Beyoncé's recent release of her “Cowboy Carter” album has had a significant impact on the sales of Western boots, with a surge of over 20% reported by consumer behavior firm Circana. This surge in sales has spelled good news for companies that produce the iconic shoe, as well as other items that align with the Wild West aesthetic. Even before the full album was dropped, Circana noted a noticeable increase in unit sales for cowboy boots following the release of singles such as “Texas Hold ‘Em” and “16 Carriages.”
The Rise of Western Fashion
Beyoncé's venture into the country genre with “Cowboy Carter” has added to a growing cultural movement towards stagecoach-inspired styles. This trend has been further supported by Louis Vuitton's American Western line debut at Paris Fashion Week, which featured models donning cowboy hats and bolo ties. The ongoing Eras Tour has also played a role in popularizing the Wild West aesthetic, with attendees embracing a style reminiscent of Taylor Swift's early country singer days.
Industry analysts have taken note of the impact of Beyoncé's chart-topping album on the retail sector. Sam Poser, an analyst at Williams Trading, upgraded his rating on Boot Barn, a California-based retailer, to buy following the release of “Cowboy Carter.” Poser raised his price target for the company, anticipating a 12% upside as a result of increased same-store sales driven by the Western fashion trend. The beginning of busy seasons for rodeos and music festivals has further contributed to the positive momentum in the market.
Expanding Influence Beyond Boots
While cowboy boots may be the defining piece of Western fashion, other items have also seen increased interest due to the trend. Levi Strauss CEO Michelle Gass noted that denim, in particular, is experiencing a revival in popularity, with the Western style gaining traction in both fashion and music. Beyoncé's song “Levii's Jeans” on the “Cowboy Carter” album, featuring Post Malone, has further solidified the link between the music industry and Western-inspired fashion.
Despite the positive impact on certain retailers, not all companies have fared well in the wake of the Western fashion trend. While Boot Barn shares have witnessed a climb of over 4% since April, other denim suppliers like Levi Strauss and Kontoor Brands have experienced declines in their stock prices. Levi Strauss shares dropped over 3% in April, while Kontoor Brands, known for its Wrangler brand cowboy cut jeans, saw a decline of around 11% in the same month.
Overall, Beyoncé's influence on Western fashion trends has been undeniable, with her “Cowboy Carter” album sparking renewed interest in cowboy boots and other Western-inspired apparel. Retailers and industry experts are closely monitoring the market response to capitalize on the growing popularity of the Wild West aesthetic.