Pop star Beyoncé gives Levi's a boost with song named after the brand, featured on her new country album.
Levi's stock rose 20% Thursday, boosted by a new Beyoncé song called 'Levii's Jeans.' The track appears on the singer's new country album 'Cowboy Carter,' released last month. The duet, featuring Post Malone, runs slightly over 4 minutes and includes several references to Levi's jeans.'I would just say that denim is having a moment and the Levi's brand is having a powerful moment around the world,' Levi Strauss CEO Michelle Gass said.
New Levi's products including denim skirts and pants other than jeans have also improved company sales. Levi's capitalized on its Beyoncé-fueled moment by changing its account name on Instagram to 'Levii's' to reflect the spelling of title of her new song. The company benefited from 'a nod from cultural icon Beyoncé in her new song 'Levii's Jeans,'' Wells Fargo equity analyst Ike Boruchow wrote in a research note shared with CBS MoneyWatch.
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