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Pic: Shutterstock Levi Strauss & Co, a US-based apparel company and leader in jeans, has reported 13 per cent sales decline to $1.30 billion in its first quarter (Q1) FY21 ended on February 28, 2021 compared to the sales of $1.50 billion in the same period previous fiscal. The company’s net income for the quarter was $142.5 million (Q1 FY20: $152.7 million). “We ve started the year strong, beating our internal expectations even as we are lapping a particularly good quarter in the prior year, Chip Bergh, chief executive officer of Levi Strauss & Co, said in a press release. “Our strong results this quarter were driven by faster-than-expected recovery in our business from our relentless focus on the priorities that are driving outsized performance. We continue to lean into our strategies – leading with our brands, investing in direct-to-consumer and diversifying our business – while still operat
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India fastest growing market for Levi’s in Asia
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India fastest growing market for Levi’s in Asia
John Sarkar / TNN / Apr 10, 2021, 12:21 IST
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Products are displayed at a Levi Strauss store. (File photo)
NEW DELHI: India has emerged as the fastest growing market in Asia for the US clothing company Levi Strauss & Co. For the first quarter of 2020-21 that ended February 28, the company’s sales in India grew ahead of the same period in 2019, Harmit Singh, global CFO at Levi Strauss & Co, said.
“Asia as a region declined 8%. The full digital ecosystem in the region grew over 60% in the quarter. India’s performance was slightly ahead of the region. More importantly, this market grew compared to Q1 of 2019…,” said Singh.