Levi's had a lot riding on the launch of its new women's 700 Series this summer, and so far, it's paying off. The San Francisco-based company released its sales figures for the three months ending Aug. 30 on Tuesday, and though sales declined 1 percent to $1.14 billion overall (largely due to negative currency effects), net income was up 15 percent to $58 million thanks to a combination of strong wholesale sales, new store openings, negotiations for lower product costs and streamlined supply chain operations.
It was the new women's denim line in particular that contributed to a 7 percent boost in wholesale sales for the third quarter, the company said. The line, which took two years to develop, ranges from super skinny to slim to straight to bootcut with prices between $54.50 and $78. Levi's made a big marketing push ahead of its July launch, including a campaign starring Alicia Keys and other female musicians, hoping its popularity will stave off competition from newer denim players like Madewell and consumers' growing preference for stretchy yoga pants over jeans.
The 700 Series has only been in stores since July, so if this quarter is any indication, the company could expect to see even more of a lift from the women's line before the end of the year.