An RoC filing has stated that Levi Strauss India reported a 13.4 per cent decline in its net profit for FY ’24, amounting to US $ 18.76 million. In spite of this drop in profit, the company’s sales rose by 3.3 per cent to US $ 196.47 million. Aided by other income, Total revenues increased by 3.4 per cent to US $ 217.08 million for the year ending 31st March 2024, as per data accessed via Tofler.
In FY ’23, Levi Strauss India made a profit of US $ 21.67 million and earned US $ 190.16 million in revenue. In FY ’24, the company spent 15.62 per cent more on advertising and promotions, which went up to US $ 13.94 million from US $ 12.05 million the previous year. It also paid 4.27 per cent more in royalties to its parent company, Levi Strauss & Co, with the amount increasing to US $ 14.07 million.
The company’s total expenses for FY ’24 amounted to US $ 191.94 million. With a robust portfolio, innovative strategies, and a credible workforce, Levi Strauss India continues to strengthen its foothold in the Indian retail market despite current challenges.
