Levi Strauss is a global apparel company built around the Levi's brand, the #1 jeanswear brand globally by retail sales. The core product is denim — jeans, jackets, and pants for men, women, and children — anchored by the iconic 501 jean. Levi's accounts for ~94% of net revenues; the company sold its Dockers brand in 2025 and retains Beyond Yoga, a small premium athleisure brand. Levi Strauss sells in ~120 countries through two channels: wholesale (department stores, specialty retailers, and franchise stores) and DTC (~1,231 company-operated stores plus e-commerce), with DTC now representing ~50% of revenues. The company is deliberately shifting toward a DTC-led model, targeting 55%+ of revenues over time, as DTC carries higher margins and better supports full-price selling. Levi Strauss is also expanding from a denim bottoms business into a broader lifestyle brand — growing tops, dresses, and outerwear — while pushing deeper into women's (currently ~39% of revenues, targeting ~50%) and launching Blue Tab, a premium denim line priced at $200–$350. Gross margins run at ~61%, driven by channel mix, product mix, and full-price selling discipline. Management is targeting ~15% adjusted EBIT margins long-term, up from ~11–12% today, through gross margin expansion and SG&A leverage as revenues scale. Asia is the fastest-growing geographic segment, with Japan cited as the model for broader regional expansion.