"we are confident of strengthening the brand further"
American clothing company Levi’s has named Deepika Padukone its global brand ambassador.
Levi’s made its way to India in 1994, however, it has been struggling to increase its sales over the past two years.
Given Deepika’s fashion statements, her appointment is only fitting.
The partnership may help Levi’s attract more female consumers.
Sanjeev Mohanty, managing director (South Asia and MENA) Levi’s, said:
“We are absolutely thrilled. Deepika’s personality shines through a balance of being bold, authentic, true and uncompromising that perfectly fits with our brand values.
“She is not only a style icon but also an inspiration to the youth and women globally.
“With her on-board, we are confident of strengthening the brand further especially when we are strongly focusing on leading the women’s category.”
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Deepika Padukone is the first female celebrity to endorse the brand in India and she is delighted to be the face of such an iconic brand.
In a statement, she said: “I am absolutely honoured and delighted to be associating with one of the world’s most iconic brands.
“Authenticity, Originality and Honesty are values that the brand has been built on and are values I identify with the most!
“For those unaware, I have always been a jeans and t-shirt kind of a girl.
“The right pair of jeans not only makes me feel comfortable but also confident.”
In its regulatory findings, Levi’s India revealed the “significant” impact of Covid-19 on its operations.
The company said: “The trade suffered due to loss of sales and resultant pile-up of inventory.”
In its global financial results of the fourth-quarter and fiscal year, ending November 29, 2020, the company stated that in Asia, the most significant market impact was a £12.7 million reported decline in India.
The impact of Covid-19 on shopping traffic remained significant in India, even though most shops were open during the fourth quarter.
For the financial year ending March 2020, Levi’s had a revenue of Rs. 1,122 Crore (£109.8 million), a 1.6% increase from the last fiscal year of Rs. 1,104 Crore (£108 million).
Levi’s attributed the increase in sales to various factors such as a strong growth in ‘tops business’ in men’s and women’s category, growth in women’s denim driven by higher adoption of fashion fits, a profitable store network, and an acceleration in pace of direct-to-consumer business.
However, profit after tax (PAT) declined during the same period to Rs. 28.4 Crore (£2.7 million) from Rs. 50.3 Crore (£4.9 million)
Deepika Padukone being named global brand ambassador hopes to increase sales and attract new consumers in India.
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