Levi Strauss & Co., a global leader in jeanswear, is combining its businesses in South Asia, Middle East and North Africa markets. These regions collectively contributed around US $ 200 million to the wholesale turnover of the brand.
The merger decision was taken earlier this month after the company observed similarity in customer demands and synergies across these markets.
Levi’s reported a 7 per cent increase in its revenue on a reported basis in the third quarter despite the challenging retail environment. It also noted a 2 per cent increase in its Asia revenue on both reported and constant currency basis.
Now it would be interesting to see how this merger impacts the overall business of Levi’s.
Sanjeev Mohanty has been appointed to lead the consolidated business. He started his stint with Levi’s as Managing Director & SVP South Asia in August 2016 after leaving e-tailer Jabong. He had a vital role in bringing Jabong back to the growth path after two sluggish quarters with 600 basis points of gross margin improvement.
Mohanty was also associated with Benetton Group for around 9 years in the past. He served there as a Managing Director. He is known for his leadership skills and has been a part of most successful and fast-growing international fashion brands in India.
