Almost two years ago, Levi’s stated it took back its inventory from closed franchisees in India and reallocated it to pure-play e-commerce, which promoted the online channel. In addition, it also stopped flunking stores and enhanced and increased others into better places.
Denim manufacturer Levi’s Strauss & Co announced about India escalating back to growth, surpassing other Asian markets which waned 8% as a sector.
Till the last quarter, most clothing companies including Levi’s had sunk due to Covid-related lockdowns and strict constraints after reviving again. Levi’s chief financial officer Harmit Singh told investors, “India’s performance was slightly ahead of the Asia region and importantly, this market grew compared to Q1 of 2019 driven by the acceleration of the digital ecosystem and the ongoing transformation of our store fleet and franchise network. “
Almost two years ago, Levi’s stated it took back its inventory from closed franchisees in India and reallocated it to pure-play e-commerce, which promoted the online channel. In addition, it also stopped flunking stores and enhanced and increased others into better places.
Globally, the retailer proclaimed double-digit sales to descend at 13% for its fiscal first quarter. The company’s chief executive officer Chip Bergh spoke on the international front, expanding markets of China, India, and Russia had surpassed the first quarter and interpreted notable growth opportunities.
