Levi’s has had a healthy skate program for over five years nows. But it has remained relatively low-key compared to other entities of its size within our space. This report published by CNBC a little over a week ago has us thinking that the brand may be poised to take a deeper dive into skateboarding after going public later this year.
The reason for the conjecture has to do with the weight that Levi’s places on cultural relevance. At the 9:53 mark, CEO Charles V. Bergh breaks it down as follows:
This Brand is at its best when we’re at the center of culture. We were there when the Berlin Wall fell down. We were there through the riots of the ‘60s and ‘70s. So we’ve put the brand back at the center of culture.
With skateboarding trending in Hollywood in 2018, continuing to influence music and fashion, and set to make its Olympic debut in 2020, now seems like an ideal time for the denim giant to make a bigger investment into its fledgling skate program. Watch CNBC’s report above for more background on Levi’s rich history.
UPDATE 02.14.19: Levi’s released a press release yesterday announcing that it has filed its registration for initial public offering. Once approved, the brand’s stock will be publicly traded, which will increase its capital. We’ll be keeping an eye out see what, if any, impact this has on its skate program.