I like to talk about pick and shovel plays because they are often the best way for you to claim a lucrative stake in a wide swath of a high-growth tech sector.
And I like to talk about just how much tech serves as the driving engine of the modern economy.
So, you can just imagine my excitement when I learned that Levi Strauss & Co. is embarking on a massive new $210 million digital spending program.
What we have here is a pick and shovel play, dating all the way back to the original California Gold Rush, where we get the term. And that company has decided it needs to go high-tech.
That means digital offerings, AI, and data analytics needed to thrive in the modern retail world where mobile and online shopping rule.
It’s all part of a sector that MarketsandMarkets says will be worth $1 trillion by 2025 as thousands more companies engage in digital transformation from legacy computer programs or paper-based systems.
And I have uncovered a great supplier firm that can help firms like Levi’s make the journey smoothly.