Levi's India revenue up 12 percent to Rs 842 crore

By

Maverick Martins

Published
Nov 1, 2017

Levi Strauss India unit witnessed a 12 percent surge in sales revenue at Rs 842 crore (approx $130.3 million) during year to March 2017 as compared to the Rs752 crore (approx $116.3 million) it reported last year.
 

The company’s net profit however declined 27 percent to Rs 58 crore (approx $9 million) from the Rs79 crore (approx $12.9 million) it reported last year, the company said in its annual report.
 
Levi Strauss's overall international sales reached $1.268 billion in the last quarter (Q3), with Asia contributing $182 million to the total revenue.

After the demonetisation blues last year, Levis attributed the decline in net profit to excise duty on apparels since last year and payment to parent company.
 
“We have delivered strong and consistent growth in India over the last two years, with profitability in line with our growth strategy. With strong fundamentals in terms of brand, product portfolio and sales channel mix with a clear focus on direct to consumer business and omni-channel, India remains a critical scale market for Levi Strauss & Co,” Sanjeev Mohanty, Managing Director, South Asia Operations at Levi Strauss & Co told the Economic Times.
 
Levi’s India currently operates 400 franchisee-run stores in India. In the next financial year the company has plans to apply for a single-brand licence in the country that will enable it to undertake its own e-commerce business and run company-owned outlets.