Levi’s Bounces Back

Denim giant Levi’s Strauss & Co’s Indian sales returned to growth last quarter, outpacing other Asian markets, according to an Economic Times report. The Asia region more broadly saw sales decline 8 percent for the company in its first quarter earnings report.

Levi’s was among many fashion and beauty companies in India that saw sales shrink for several consecutive quarters in 2020 due to the country’s severe pandemic-induced lockdowns. Six months ago, Levi’s took inventory back from franchisees closed due to lockdowns and reallocated it to e-commerce operations, boosting its online channel. It also took the opportunity to close underperforming stores and upgrade or expand other locations.

“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,” Levi’s chief financial officer, Harmit Singh, told investors.

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