Oliver Chen

You certainly ask interesting questions.

Well, Tom, it's a pleasure to be here.

Happy Black Friday as well.

Levi's is an iconic brand with dominant market share at the premium end of the market.

Also, as we think about what's happening now in product execution, it's about classics with a twist.

It's about getting great value as well.

And denim fits really nicely into these themes.

What Levi's is doing specifically is more direct to consumer, basically opening their own stores

globally and consumers are looking for value.

It plays quite nicely with quality.

As you know, 501s last forever and you shouldn't wash them either.

Yeah, Lisa, first of all, I want that deck, please.

Second, we are seeing spending.

We're seeing a consumer that does have plenty of anxiety that's looking for great deals.

That being said, the consumer still has money, wants joy.

We're forecasting up two to three percent.

Keep in mind, inflation and pricing will be about two to three percent.

So your units are flat and there's a bit of a struggle.

On the one hand, consumers want joy and wellness and

and gifting.