Beyoncé leaves the Luar fashion show at 154 Scott in Brooklyn during New York Fashion Week on February 13, 2024.
James Devaney | GC Photos | Getty Images
Western boots have a new protector in Beyoncé.
Sales of the country's fashion staple rose more than 20% in the week after the music star released her “Cowboy Carter” album, according to consumer behavior firm Circana. That could come as good news for the companies that make the iconic shoe, as well as other items that fit the same Wild West aesthetic.
“Cowboy Carter,” released late last month, marked the “Halo” singer’s entry into the country music genre. Even before the release of the full album, Circana announced notable unit sales boosts for this style of shoe following the release of the singles “Texas Hold 'Em” and “16 Carriages.”
The 32-time Grammy Award winner's latest project adds to a groundswell of cultural support for Stagecoach-inspired styles. Louis Vuitton She unveiled the American Western line during Paris Fashion Week earlier this year, featuring models in everything from cowboy hats to bow ties. This look has also received exposure through the ongoing Eras Tour, with some attendees choosing to channel Taylor Swift's pre-pop days as a country singer.
Retailers and industry followers have already noticed this trend.
A chart-topping Beyoncé album could provide a boost in same-store sales and help attract female shoppers in Pot Barnsaid Sam Bowser, Williams Trading Company analyst. He upgraded his rating on the California-based retailer to buy on Thursday and raised his price target by $33 to $113, which now implies an upside of about 12%.
Pot Barn, year-to-date
Adding to the momentum is the start of busy seasons for rodeos and music festivals, Bowser said. With these positive trends, he said guidance for the current quarter and full fiscal year should exceed Wall Street estimates.
“We have no doubt that there is a connection” between the growing interest in Western clothing and the release of Beyoncé's eighth studio album, Bowser said.
Boot Barn shares have risen more than 4% since the beginning of April, defying the broader market decline. This adds to the stock's rise over the course of 2024, with shares jumping about 30% compared to the beginning of the year.
“Really trending”
Although cowboy boots may represent the Western look, other pieces can also ride the wave.
Levi Strauss CEO Michelle Gass told analysts earlier this month that the jeans maker was working to ensure the brand “remains at the center of culture.” This mission was helped by the song “Levii's Jeans” on the album “Cowboy Carter” featuring Post Malone.
Justin Sullivan | Getty Images
“I don't think there's any better evidence or proof point than having someone like Beyoncé, who shapes the culture, to name a song after us,” Gass said on the company's earnings call last week.
Gass said denim is “having a moment” and that Western style is “very popular,” including in fashion and music.
But denim suppliers have been unable to avoid the recent market downturn. Shares of Levi Strauss fell more than 3% in April. Contour brandswhose styles under the Wrangler brand include “cowboy cut” jeans, fell nearly 11% during the month.