A spate of bankruptcies in retail is the “tip of the iceberg”, Levi Strauss’s CEO has warned, as the fashion company seeks to capitalise on industry turmoil that is bringing about years of change within a few months.

Speaking days after two of Levi’s competitors in denim, Lucky Brand and the US arm of G-Star Raw, filed for chapter 11 protection, Chip Bergh said the list of recent failures “is already pretty long and I expect it’s going to get longer”...

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