With a revenue increase of 18% in the July–September quarter, Levi Strauss & Co. displayed remarkable achievements in the Asian market. This rise was largely fueled by the success of the Levi’s brand in India, highlighting the country’s development as a significant source of expansion potential for the business.
This outstanding performance was further enhanced by a considerable gain of 330 basis points in the company’s operating margin in Asia, which rose to 12.3 percent.
President Michelle Gass and Chief Financial and Growth Officer Harmit Singh of Levi Strauss & Co. emphasised the brand’s outstanding performance in Asia, with a focus on the crucial markets of India, China, and Japan.
With more than half of its population under 30, India is significant as a quickly expanding economy. He noted that India has grown to be one of the company’s key development prospects, demonstrating the effectiveness of Levi’s strategy for regional expansion and the attraction of its denim lifestyle offering.
With revenue up over 50% in India compared to pre-pandemic levels, Levi’s has seen tremendous expansion. India is presently the biggest market in Asia and the sixth-largest country for Levi’s. The dedication and steadfastness of Levi’s franchise partners in India are largely responsible for the country’s progress.
Levi’s franchisees increased the brand’s visibility throughout the pandemic by increasing the square footage in significant malls around India, maximising the market’s long-term potential. Additionally, Gass pointed out that Indian consumers regard Levi’s as a whole lifestyle brand rather than just a denim company.
Levi’s success in India is also fueled by a broad range of tops and bottoms-related products, a focus on indigenous production, and an international design aesthetic. Indian consumers have responded well to the company’s local partnerships and brand-building initiatives, notably its association with Bollywood celebrity Deepika Padukone as a brand ambassador since 2021.
Harmeet Singh also noted Levi’s plans to use a comparable brand-building approach to increase its market share in emerging areas. Levi’s announced strong growth in Asia with an 18% increase in revenue in terms of financial performance. Due to high leverage, the company’s operating margin in Asia increased by 330 basis points to 12.3%.
In general, Levi’s strategic emphasis on India and other rising economies in Asia has proven to be a successful growth strategy, putting the brand as the top pick among customers in these areas.
