Levi’s CEO Sets Sights on India for Growth
As American denim giant Levi Strauss & Co aims to expand into a $10 billion business globally, president and CEO Michelle Gass has identified India as a key market for driving growth.
Gass, along with the company’s leadership team, is keen on tapping into India’s potential as the largest market in Asia. With a large cohort of young and fashion-conscious consumers, India offers a significant opportunity for Levi’s to grow its market share.
“India is critical for us to achieve our objectives. The consumer in this market perfectly embodies our target audience, both demographically and psychographically,” Gass stated during her visit to India.
Under Gass’s leadership, Levi’s is shifting its growth strategy towards achieving a better gender balance in its customer base. While denim remains a key focus, the brand is expanding its range of tops to complement its iconic jeans and khakis.
Additionally, the company is exploring the concept of “owning the denim lifestyle” globally, with a special emphasis on markets like India. The goal is to offer a complete denim wardrobe, including skirts and dresses, to cater to diverse consumer preferences.
Chief Financial Officer Harmit Singh highlighted the success of Levi’s strategy in India, with a significant increase in women’s apparel sales. The brand’s focus on providing more options for women has resulted in a 30% share of the business, up from 20% previously.
Despite facing tough competition from global fast-fashion brands, Levi’s is optimistic about its prospects in India. By leveraging the country’s growing fashion market and consumer confidence, the brand is poised for continued growth and success in the region.
