Levi Strauss launches new jean brand in Shanghai

Levi Strauss, the iconic US manufacturer of denim clothing, launched its new jean brand in Shanghai Wednesday, the Financial Times reported. It is the first time the company has launched a new global brand outside of the US. The name of the brand, Denizen, is intended to echo the words denim, citizen and netizen, according to Terence Tsang, who is heading up its development. The five-pocket jean is aimed at 18-29 year-olds in emerging markets, with China, Singapore, South Korea and eventually India the main targets. Analysts say Levi’s basic jean hasn’t fared well in China as it is priced too high for cheap casual wear and too low to be a luxury item. The new product will be priced at US$40-60, a 10-15% premium to the local competition, but half the current price of Levi’s jeans in China.