Earned & PaidLevi Strauss
Levi Strauss spent $437M on advertising and marketing in fiscal 2025, up 1.6% on the year before and +10% since 2019. That's 7.0% of revenue, less than in 2019: the business outgrew its marketing.
Marketing spend by year
Bars: advertising and marketing expense, $B (10-K). Line: spend as a share of revenue.
What they told investors
“Premiering during one of the most watched moments of the Super Bowl, early results have been very encouraging, with strong awareness, brand equity lists and more than 1.4 billion media impressions generated in February alone.”Michelle Gass · 2026 Q1 · transcript
“These share gains are supported by strong brand heat, reflected by higher social media engagement and meaningful gains in brand equity versus last year.”Michelle Gass · 2025 Q4 · transcript
“For the year, we expect marketing spend to be approximately 7% of total revenues flat to $20.25.”Harmit Singh · 2025 Q4 · transcript
“However, this spend will be Q1 weighted given the timing of a global marketing campaign which kicks off in February with the Super Bowl.”Harmit Singh · 2025 Q4 · transcript
What the 10-K says about marketing
- investing in brand “We continually strengthen our portfolio of brands and our positioning at the center of popular culture with a diverse mix of marketing initiatives to drive consumer demand, such as through social media and digital and mobile outlets, sponsorships, product placement in leading…” 10-K, Jan 28, 2026
Say vs do
Levi Strauss has made 1 statement about its marketing budget for a year that isn't filed yet; the verdict comes with that 10-K.
What they said
“For the year, we expect marketing spend to be approximately 7% of total revenues flat to $20.25.”
Harmit Singh on the 2025 Q4 earnings call, Jan 28, 2026 · transcript
Too early to check FY2026 isn't filed yet.
What they did
| Year | Marketing spend | Change | Share of revenue |
|---|---|---|---|
| FY2025 | $437M | +1.6% | 7.0% |
| FY2024 | $430M | +6.4% | 7.1% |
| FY2023 | $404M | -12.9% | 6.9% |
| FY2022 | $464M | +6.9% | 7.5% |
| FY2021 | $434M | +31.1% | 7.5% |
| FY2020 | $331M | -17.0% | 7.4% |
Against its peers. Compared with the 4 other Apparel advertisers we track (Nike, Lululemon, Ralph Lauren, Under Armour): since 2019 its marketing spend went +10% (peer median +80%); its share of revenue moved +0.0 pts (median +2.1); last year +1.6% (median +7.8%).
In interviews, its leaders made 91 statements about marketing: 10 argued for investing in brand and 1 for cutting.
How we check: a statement gets a verdict only when it's clearly about the size of the whole company's marketing budget over a full fiscal year; we compare it with the advertising and marketing expense in that year's 10-K. Statements about one quarter, one brand or channel, or the mix between brand and performance can't be checked against annual filings.
What they say about media
The marketing channels it talks about using for itself on earnings calls and in its 10-Ks and 10-Qs, since 2019; counts are statements, not spending.
- Creative campaigns “Advertising and promotion expenses were higher for the six-month period ended May 31, 2026 primarily due to increased spending related to the launch of the Behind Every Original campaign, including a commercial during Super Bowl LX which was held at Levi’s ® Stadium.” 10-Q · Jul 8, 2026 · source
- Sponsorships & athletes “Earlier this week, we took another significant step in reaffirming Levi’s place at the center of culture through an unprecedented partnership with global icon Beyonce.” Michelle Gass on the earnings call · Apr 8, 2026 · source
- Influencers & creators “So it's a formula that works for us, tapping into global and local influencers, and we will continue to activate against sports and music.” Michelle Gass on the earnings call · Apr 8, 2026 · source
- Experiential & events “Leading up to the game, we turned the Bay Area into Levi's Home Turf with a full 360-degree activation, including exclusive product drops and live music as well as hands-on workshops and in-store celebrity and athlete engagements.” Michelle Gass on the earnings call · Apr 8, 2026 · source
- Linear TV “Excluding the effects of currency, the increase in advertising and promotion expenses was primarily due to increased spending related to the launch of the Behind Every Original campaign, including a commercial during Super Bowl LX which was held at Levi’s ® Stadium.” 10-Q · Apr 7, 2026 · source
In the news
- Leo Hong Kong kicks off LIA strongly scoring two Gold Statues ‘Back to Kai Tak’ Campaign Brief Asia · Sep 30, 2026 · campaign
- Levi's Gets In On Macy's Centennial Thanksgiving Parade WWD · paywall · Sep 29, 2026 · sponsorship
- Levi’s® Keep It Cool: ROSÉ and SGA Go Loose MEGA Magazine · Sep 28, 2026 · campaign
- Levi’s x The Smashing Pumpkins Turns ’90s Band Merch Into a Living Archive stupidDOPE · 2026-09 · sponsorship