Western boot sales continue to rise since the launch of “Cowboy Carter” | Private Equity Weekly

Western boots have a new protector in Beyoncé.

In the week after the music star released his “Cowboy Carter” album, sales of the country-chic staple surged more than 20%, according to consumer behavior firm Circana. That could be good news for the company that makes the iconic shoe and other products that fit the Wild West aesthetic.

“Cowboy Carter,” released late last month, marked the “Halo” singer’s foray into the music industry. Country style. Even before the full album was released, Circana reported a significant increase in sales of the style boots following the release of the singles “Texas Hold ‘Em” and “16 Carriages.”

The 32-time Grammy Award winner’s latest project breathes new life into Stagecoach-style cultural support. Louis Vuitton revealed American Western Front During Paris Fashion Week earlier this year, models wore everything from cowboy hats to bolo ties. The look has also raised eyebrows on the ongoing Eras tour, as some attendees have chosen to emulate Swift’s pre-pop days as a country singer.

Retailers and industry followers have taken notice.

Beyoncé’s chart-topping album could boost same-store sales and help lure female shoppers Boot warehouse“Williams analyst Sam Poser said. On Thursday, he upgraded his buy rating on the California retailer and raised his price target by $33 to $113, which now implies an upside of about 12%.

Poser said the start of the busy season for rodeos and music festivals has added to the momentum. Given these positive trends, guidance for the current quarter and full fiscal year should exceed Wall Street consensus expectations, he said.

“We have no doubt there is a correlation between the growing focus on Western clothing and the release of Beyoncé’s eighth studio album,” Poser said.

Boot Barn shares have risen more than 4% since early April, defying the broader market’s pullback. This has further fueled the stock’s gains in 2024, with it up about 30% compared to the start of the year.

While cowboy boots may be the quintessential example of western style, other pieces can fit in with the trend.

Levi Strauss Chief Executive Michelle Gass told analysts earlier this month that the denim maker is committed to ensuring “the brand remains at the center of culture.” This mission was aided by the song “Levii’s Jeans” from the Cowboy Carter album, a collaboration with Post Malone.

But denim suppliers have not been able to escape the recent market downturn. Levi Strauss shares fell more than 3% in April. Cantur brandstyles under the Wrangler brand include “denim cut” jean is down about 11% this month.