Beyoncé leaves the Luar fashion show at 154 Scott in Brooklyn during New York Fashion Week on February 13, 2024.
James Devaney | GC Images | Getty Images
Western boots have new protection on Beyoncé.
Sales of country fashion staples rose more than 20 percent in the week after the music superstar released her album “Cowboy Carter,” according to consumer behavior firm Circana. That might be 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 foray into country genre. Even before the release of the full album, Circana reported notable increases in unit sales for this boot style following the release of the singles “Texas Hold’Em” and “16 Carriages”.
The 32-time Grammy winner’s latest project adds to a wealth of cultural support for coach-inspired styles. Louis Vuitton revealed one American Western Line during Paris Fashion Week earlier this year, with models wearing everything from cowboy hats to bolo ties. This look has also attracted promotion through the ongoing Eras tour, with some participants choosing to channel Taylor Swift’s pre-pop days as a country singer.
Retailers and industry fans have already taken note of the trend.
Beyoncé’s chart-topping album could boost same-store sales and help lasso female shoppers Boot barn, Williams Trading analyst Sam Poser said. 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 a 12% upside.
Boot Barn, year to date
Adding to the momentum is the start of busy seasons for rodeos and music festivals, Poser said. With those positive trends, he said guidance for the current quarter and full fiscal year should exceed Wall Street consensus estimates.
“We have little doubt that there is a correlation” between the increased attention to Western clothing and the release of Beyoncé’s eighth studio album, Poser said.
Boot Barn shares are up more than 4% since early April, defying the broader market’s pullback. This adds to the stock’s rally through 2024, with shares jumping around 30% compared to the start of the year.
‘Really trending’
While cowboy boots may define the western look, other pieces can also ride the wave.
Levi Strauss Chief executive 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 aided by “Levii’s Jeans”, a song on the album “Cowboy Carter” featuring Post Malone.
Justin Sullivan | Getty Images
“I don’t think there’s a better proof or proof than having someone like Beyoncé, who is a culture shaper, naming a song after us,” Gass said on the company’s earnings call last week.
Gass said denim is “having a moment” and Western style is “really on trend,” including in fashion and music.
But denim suppliers have not been able to overcome the recent market slide. Shares in Levi Strauss fell more than 3% in April. Kontoor Brandswhose Wrangler-branded styles include a “cowboy cut” jean, it’s down about 11% on the month.