Categories
The best jeans are the ones that are made to be worn on a regular basis, said Andrew Witty, the executive vice president of marketing at Levi Strauss and Co. The jeans he is talking about are made in the U.S., but they have a low price tag and have a great feel.
But he added, “I would say the $500 pair is a no-brainer.”
The $100 shoe, he said, is “almost the best value you can get.”
And the $100 pairs are the best-performing sneakers, Witty said, noting that the $50 pair is “more comfortable and more comfortable to wear than most shoes.”
The shoes, he noted, can be made in China and made in a factory in Italy.
“It’s a very interesting question,” he said.
He said the $5,000 pair is the most comfortable.
“You can get a very comfortable pair for a much lower price than a $5 pair,” he told CNBC.
Levi Strauss said it is expanding production of its U.K.-made jeans in China, adding a fourth factory.
But Witty cautioned that the company needs to make sure the jeans are quality-controlled and that the factories are in compliance with global safety and labor standards.
The company is also testing a new model in China.
Witty declined to provide details on how much the new model would cost, but said the new jeans have a “better fit and feel” than the older models.
Levi said the company is working on new jeans in Italy and China.
The new jeans, it said, are made with high-quality materials and will “re-emphasize comfort and durability.”
A similar model is expected to hit U.N. markets later this year.
The U. S. has also recently made headlines after it imposed new rules to prevent its apparel brands from making more than $100 million in profits in the first year of production.
The rules, which were implemented in October, require companies to pay a $2,500 penalty on top of the company’s $10 million profit margin for the first three months of each year.
Levi’s said it will pay the penalty on the first day of each month until Jan. 31, 2020, but only if it misses its goal of $10.5 million in profit for that period.
The other brands who will pay penalties in January include Gap Inc., J. Crew and Forever 21 Inc. Levi also said it was investigating the possibility of imposing similar rules in Australia.
