by Rosegalie Cineus
Could denim break the internet? The number of Google searches for denim is up 35% from last year to a 20-year high, Morgan Stanley has found. It isn't just jeans -- it's also denim blouses, skirts, and entire ensembles. In fact, "denim tops" is the most popular search term for the material.
The ardor for denim took hold in the early days of Covid and has only strengthened. People are wearing it at home, at work, and out at night. "Denim is the new neutral, the new norm," says Chellie Carlson, a Los Angeles--based wardrobe consultant.
Skinny jeans are now out; the more comfortable, barrel-leg silhouette is in, along with other baggier fits, even joggers. In all, denim is taking the runway by storm: Brands like Gucci, Valentino, and Versace have highlighted the textile in shows for the season.
In Morgan Stanley's view, the biggest beneficiaries are American Eagle Outfitters, Abercrombie & Fitch, TJX Cos., and Urban Outfitters. Abercrombie's stock has shot up more than 400% in the past year, making it the Nvidia of jeans. American Eagle has doubled and could go further -- it trades for just 12.3 times estimated earnings.
Levi Strauss, which invented jeans in 1873, has heavy exposure to the boom but is getting relatively little attention in internet searches, Morgan Stanley found. Ditto for PVH, parent of Calvin Klein, which ushered in the era of designer jeans in the 1970s. So it goes in the world of fashion.
Email: editors@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 07, 2024 03:00 ET (07:00 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments