Shoes are seen on sale at a Vans store, a brand owned by VF Corporation, in Manhattan, New York City, USA, on May 20, 2022.
Andrew Kelly Reuter
Move over, folks.
Iconic apparel brands traditionally popular with men are turning to women to drive new growth.
CEOs of Timberland owners VF Co., Ltd., Levi’sand columbia sportswear Companies have recently highlighted women as a key focus as they seek to increase revenue and expand their customer base.
The chances are pretty big. Needham analyst Tom Nikic estimates the U.S. women’s wear market is about 70% larger than the men’s wear market. In other words, women spend significantly more money on clothing than men.
“If you skew too heavily toward men, you’re effectively leaving half the population behind,” Nikic told CNBC.
Analysts say the efforts by VF Corp., Levi’s and Columbia reflect a broader trend across the apparel industry as brands seek growth in an increasingly competitive market. Although these companies have been selling women’s clothing and shoes for decades, executives are increasingly treating female consumers as a strategic priority rather than just a customer segment.
For investors, the appeal is obvious. By attracting more female shoppers, brands can expand their addressable market without embarking on a radical change of direction.
“There was no good structural reason why some of these brands would be so male-oriented,” Nikic said. “If they can grow successfully with women while maintaining their strength against men, that’s a huge opportunity.”
VF CEO Bracken Darrell, who turned the company around three years ago after a period of declining sales, said women are “key” to several of the company’s brands, including Vans, The North Face, Timberland and shoemaker Altra Running.
Darrell said this opportunity stems from both women’s increasing purchasing power and their influence on broader consumer trends.
“Women have had more influence on men’s choices than many of us who have primarily run men’s brands give ourselves credit for,” Darrell said in an interview. “There has always been a bigger opportunity for us across all brands if we try to appeal to women.”
VF is incorporating that focus into further product development across its portfolio. Vans, an icon of skateboarding culture, has introduced more women’s apparel, pearlized footwear, and shoe jewelry. Known for its iconic yellow boots, Timberland is leaning into elevated design with an expanded product lineup, including the Stone Street Platform Boot and other women-focused silhouettes, to broaden its appeal among female shoppers.
The North Face has collaborated with Kim Kardashian’s Skims and other fashion brands, while also expanding its range of products for female outdoor enthusiasts. One of the brand’s premium performance collections, the Advanced Mountain Kit line includes a complete selection for women.
The North Face is the company’s “single biggest opportunity for women,” Darrell said. It is also the company’s largest brand in terms of revenue, accounting for approximately 42% of its 2026 sales of $9.6 billion.
“We believe The North Face can double from $4 billion to $8 billion over a period of time,” he said, estimating that women could account for more than $2 billion of that potential growth.
Jefferies analyst Blake Anderson said the focus on women could also help Vans return to sustainable growth. He said young women can act as “powerful brand advocates and trendsetters” and help increase awareness through social media and online shopping channels.
The Vans brand had been struggling for years, even before Darrell’s arrival. However, earnings trends are improving. On a constant currency basis, sales fell 11% in VF’s March financial year. In comparison, FY2025 and FY2024 saw declines of 15% and 27%, respectively. For 2027, the company predicts a decline in the single midpoint rate.
In fiscal 2026, VF broke three consecutive years of declining companywide sales, with The North Face and Timberland both growing 5% at constant currency. We aim for further growth in fiscal 2027.
So far during Darrell’s tenure, VF’s stock price has fallen about 7%, including dividends. it follows state street Popular retail ETFs It is known as XRT and has risen 38% in that period. However, over the past year, the stock has outperformed XRT, returning almost 36% versus about 10%.
Michelle Gass, President and CEO of Levi Strauss & Company, rings the opening bell at the New York Stock Exchange (NYSE) on April 5, 2024, in New York City, USA.
Andrew Kelly Reuter
Levi’s has emerged as one of the clearest examples of how expanding into women’s apparel can lead to growth.
former kohls CEO Michelle Gass assumed the role of Levi’s CEO in January 2024 after serving as president for one year. She was tasked with accelerating growth and driving the transition to a direct-to-consumer business.
As part of its strategy, Gass has made attracting female shoppers a key priority through the company’s “Win With Her” initiative. The initiative first launched in Europe and then expanded more widely across the business. Earlier this year on CNBC’s “Mad Money,” Gass told Jim Cramer that women’s apparel now accounts for 38% of Levi’s business, up from about a third in 2022. She said her goal is to split revenue 50-50 between men and women.
“Women’s is up 11%[in 2025]but we have a long way to go to get between 38% and 50%, and it’s an incremental business for us,” Gass said.
During the company’s first-quarter 2026 earnings call, Gass said women’s wear grew 13 percent in the quarter, while men’s wear grew 7 percent. In its 2025 annual report, Levi’s described the category as a “strong growth driver,” noting that it has lower penetration but delivers higher gross margins.
The company has expanded beyond denim to include dresses, skirts, tops, and lifestyle apparel. It is also ramping up its marketing efforts, including a high-profile partnership with Beyoncé in 2024.
Levi’s has also changed the way it sells products in its stores. Women’s apparel is now prominently displayed on store shelves in many stores across the United States, supported by mannequins and lifestyle displays designed to display complete outfits.
Nikic, the Needham analyst, said Levi’s is demonstrating how brands can grow their women’s business without losing momentum with male shoppers.
“The women’s business is performing even better, but the men’s products also continue to perform well,” he said. “It’s clear that balanced growth for both men and women can do wonders for your bottom line and stock price.”
Since Gass took over as CEO in January 2024, Levi’s stock has returned 66%, including dividends. During that time, the company’s stock significantly outperformed XRT’s return of 28%. It also narrowly beat the S&P 500’s total return of 58%.
Levi’s will announce its next quarterly results on Wednesday.
Ulaanbaatar, Mongolia – 2025/04/24: American sportswear brand Columbia store in Ulaanbaatar, Mongolia.
Budrul Cukurt | Sopa Images | Light Rocket | Getty Images
Columbia Sportswear is pursuing a similar strategy.
At a recent investor conference, CEO Tim Boyle cited the success of Columbia’s Amaze Puff Jacket, a stylish cold-weather coat, as an example of the company expanding its appeal beyond popular clothing and shoes for things like hiking and fishing.
“This is very fashionable. We’ve brought a lot of new talent to the brand,” said Boyle, CEO since 1988.
The jacket received a lot of attention on social media and helped introduce Columbia to consumers who previously didn’t think of the company as a fashion brand, Boyle said.
The company continues to build on its momentum. During an appearance on CNBC’s “Mad Money” in May, Boyle highlighted women’s outerwear as a key area of focus and said Columbia plans to expand the Amaze collection into additional seasons.
Colombia expects sales to rise between 1% and 3% this year, after falling 3% last year on a constant currency basis. The stock has returned about 1% over the past year, lagging XRT’s 10% rise.
Although the stock price performance of the group as a whole varies, the pursuits of both companies are the same.
“The average woman spends almost twice as much money on her closet annually as the average man in the United States,” Nikic says.
Darrell said this is an opportunity the company can no longer afford to miss.
“We can’t turn away from the fact that over 50% of the population are women. So that’s always a huge opportunity for these brands,” he said. “Investors should be excited to know we’re not ignoring them, we’re going after them.”
