Levi Strauss & Co, the 170-year-old denim brand, expects India to be one of its fastest-growing markets, helping the company reach its goal of becoming a $10 billion business by 2027. Michelle Gass, the CEO of Levi’s, believes India will outperform other regions due to its strong growth potential.
To fuel this growth, Levi’s plans to expand its women’s clothing line, open more stores, and increase its marketing efforts to attract younger customers. While the company expects steady growth in the US and Europe through direct-to-consumer sales, India is expected to see double-digit growth, making it a critical part of Levi’s future.
Levi’s has been present in India for over two decades and is facing tough competition from brands like H&M, Zara, and Uniqlo. However, with India’s apparel and footwear market projected to grow from $75 billion in 2022 to $160 billion by 2030, the opportunities are vast.
Levi’s plans to add about 100 stores globally each year for the next five to six years, with India playing a significant role in this expansion. The brand also sees a big opportunity in women’s clothing, which currently makes up about a third of its business. Gass believes that women’s wear could eventually account for half of Levi’s sales in India.
As Levi’s aims for $10 billion in net revenue by 2027, up from $6.2 billion in 2023, the company is confident that its growth in Asia, particularly in India, will be a major driver of its success.
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