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Did you ever think you would see this story? Ashley Lutz reports at Business Insider that Levi's are losing out to yoga pants.
Bloomberg reports that Levi's, which is the world's most iconic denim company, stuck to its core product instead of adapting to consumer trends.
As a result, this has cost the company. Bloomberg notes sales have dipped from over $7 billion to $4.8 billion over the years.
..."We’re scrambling," Bloomberg notes Levi's CEO Chip Bergh told analysts last year. "I mean, there is a big difference between the product that we’ve got on the floor today and what the consumer is looking for. And we just flat-out missed it."
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