Levi’s, The North Face and Columbia are turning to women to fuel their next phase of growth

Move over, guys.

Iconic apparel brands that have historically been more popular with men are turning to women to help drive a new leg of growth.

The CEOs of Timberland owner VF Corp., Levi’s, and Columbia Sportswear have all recently highlighted women as a key focus as they look to boost revenues and broaden their customer bases.

The opportunity is sizable. Needham analyst Tom Nikic estimates the U.S. women’s apparel market is roughly 70% larger than the men’s apparel market. In other words, women spend substantially more on clothing than men.

“If you’re skewing very heavily towards men, then you’re essentially leaving behind half the population,” Nikic told CNBC.

The efforts at VF Corp., Levi’s, and Columbia reflect a broader trend across the apparel industry as brands search for growth in an increasingly competitive market, according to analysts. While these companies have sold women’s clothes and shoes for decades, executives are increasingly treating female consumers as a strategic priority rather than simply another customer segment.

For investors, the appeal is straightforward. Winning over more female shoppers allows brands to expand their addressable market without having to embark on a radical pivot.

“There was no good structural reason why some of these brands should skew as heavily male as they did,” Nikic said. “If they can successfully grow with women while maintaining strength with men, that’s a significant opportunity.”

VF Corp. CEO Bracken Darrell, who took over three years ago to reinvigorate the company after a period of declining sales, described women as a major “unlock” for several of its brands, including Vans, The North Face, Timberland, and shoe maker Altra Running.

Darrell said the opportunity stems from both women’s growing purchasing power and their influence on broader consumer trends.

“Women have influenced men’s choices in a bigger way than a lot of us who ran predominantly men’s brands gave credit for,” Darrell said in an interview. “We always had opportunities across all our brands that were bigger for us if we tried to get in with women.”

VF is incorporating that focus into more product development across its portfolio. Vans, a hallmark of skateboard culture, has introduced more women’s apparel, pearlized footwear and shoe jewelry. Known for its iconic yellow boot, Timberland has expanded its lineup with products such as its Stone Street platform boots and other women’s-focused silhouettes, leaning into elevated designs as it looks to broaden its appeal among female shoppers.

At The North Face, the company has collaborated with Kim Kardashian’s Skims and other fashion brands, while also expanding its offerings for female outdoor enthusiasts. Its Advanced Mountain Kit line, one of the brand’s premium performance collections, now includes a full women’s assortment.

The North Face is the company’s “single biggest opportunity with women,” Darrell said. It’s also the company’s largest brand by revenue, accounting for roughly 42% of its $9.6 billion in fiscal 2026 sales.

“We believe North Face can double from $4 billion to $8 billion over some time frame,” he said, estimating that women could account for more than $2 billion of that potential growth.

The focus on women could also play a role in helping Vans return to sustainable growth, according to Jefferies analyst Blake Anderson. He said younger women can act as “strong brand advocates and trendsetters,” helping drive awareness through social media and online shopping channels.

Vans brand has struggled for years, predating Darrell’s arrival. But revenue trends are improving. Sales on a constant-currency basis fell 11% in VF’s fiscal year ended in March, compared with 15% and 27% in fiscal 2025 and 2024, respectively. For 2027, the company projects a mid-single decline.

In fiscal 2026, VF broke a streak of three consecutive years of declining companywide sales, with The North Face and Timberland both growing 5% on a constant-currency basis. It’s guided for another year of growth in fiscal 2027.

So far in Darrell’s tenure, shares of VF are down roughly 7%, when including dividends. That trails State Street’s popular retail ETF known as the XRT, which is up 38% in that timeframe. Over the past year, though, the stock has trounced the XRT, returning almost 36% versus roughly 10%.

Levi’s has emerged as one of the clearest examples of how expanding into women’s apparel can translate into growth.

Former Kohl’s CEO Michelle Gass became Levi’s chief executive in January 2024 after a year as president. She was tasked with accelerating growth and advancing the company’s transition to a direct-to-consumer-first business.

As part of that strategy, Gass made attracting female shoppers a key priority through the company’s “Win With Her” initiative, which first launched in Europe and has since expanded more broadly throughout the business. On CNBC’s “Mad Money” earlier this year, Gass told Jim Cramer that women’s apparel now accounts for 38% of Levi’s business, up from roughly a third in 2022. She is targeting a 50-50 revenue split between men and women.

“Women’s was up 11% for [2025], and we have a long way to go between 38% and 50%, and that’s incremental business for us,” Gass said.

On the company’s 2026 first-quarter earnings call, Gass said women’s apparel grew 13% in the quarter, compared with 7% growth in men’s. In its 2025 annual report, Levi’s described the category as a “powerful growth engine,” and noted that it carries higher gross margins while remaining underpenetrated.

The company has expanded beyond denim into dresses, skirts, tops and lifestyle apparel. It’s also increased its marketing efforts, including its high-profile partnership with Beyoncé in 2024.

Levi’s has also changed how it merchandises its stores. Women’s apparel is now featured prominently at the front of many U.S. locations, supported by mannequins and lifestyle displays designed to showcase complete outfits.

Nikic, the Needham analyst, said Levi’s demonstrates how brands can grow their women’s businesses without sacrificing momentum among male shoppers.

“The women’s business is performing even better, but men’s product has continued to sell well,” he said. “When you can get balanced growth across both men and women, it obviously does wonders for your P&L and for your stock price.”

Shares of Levi’s have returned 66%, including dividends, since Gass became CEO in January 2024. In that stretch, the stock has significantly outperformed the XRT’s 28% return. It’s also narrowly topped the S&P 500’s total return of 58%.

Levi’s reports its next set of quarterly earnings on Wednesday.

Columbia Sportswear is pursuing a similar strategy.

At a recent investor conference, CEO Tim Boyle pointed to the success of Columbia’s Amaze Puff Jacket, a stylish winter coat, as an example of how the company is broadening its appeal beyond clothes and shoes popular for hiking, fishing and more.

“It’s highly fashionable,” said Boyle, who’s been CEO since 1988. “It brought a lot of new people into the brand.”

The jacket generated significant social media attention and helped introduce Columbia to consumers who may not have traditionally considered the company a fashion brand, Boyle said.

The company has continued to build on that momentum. During an appearance on CNBC’s “Mad Money” in May, Boyle highlighted women’s outerwear as a major area of focus, and said Columbia plans to expand the Amaze collection into additional seasons.

Columbia expects sales to grow between 1% to 3% this year, after falling 3% last year on a constant-currency basis. Over the past year, the stock has returned about 1%, trailing the XRT’s 10% advance.

The stock performance across the group has been mixed, but their pursuits are aligned.

“Your average woman spends almost twice as much on their closet annually as the average man in the U.S.,” Nikic said.

Darrell said that’s an opportunity the company can no longer afford to overlook.

“You can’t look away from the fact that more than 50% of the population is women, so that’s always been a big opportunity for these brands,” he said. “Investors should be excited to know that we’re not ignoring them, we’re going after them.”