Levi's Strauss Ceo, Charles Bergh, revealed that his biggest mistake was not firing the wrong people fast enough when he took over the company in 2011. He acknowledged that changing the culture required changing the people, and within the first 18 months, nine out of his 11 direct reports were gone. Under his leadership, Levi's turned around its performance, with annual revenue growth of 8% in 2017 and 14% in 2018. However, the company recently cut its 2023 profit outlook due to a decline in wholesale revenue and soft sales in the US. Levi's is focusing on expanding in Asia to capitalize on the revenge spending trend in China.

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