American denim maker Levi Strauss & Co. announced revenues for the second quarter increased 15 per cent to USD1.5bn, on the back of growth across all business segments and markets, including double-digit percentage growth in Asia.
The San Francisco-based company said revenues in Asia lifted 16 per cent on a reported basis, to USD22M and 21 per cent on a constant-currency basis, driven by both its wholesale and DTC channels and most markets outside of China.
Asian DTC net revenues increased two per cent driven by strength in Levi Strauss’s company-operated mainline stores, while Asian wholesale net revenues increased 35 per cent, driven by growth across most markets. Net revenues through all digital channels in Asia grew 17 per cent and represented 15 per cent of the segment’s sales in the quarter.
The company’s Asia operating income for the segment increased due to higher net revenues and lower SG&A expenses as a percentage of net revenues, added Levi’s.
