Levi Strauss reported revenues of USD 1.5bn for the third quarter on a reported basis, consistent with the prior year, with revenues held up by the US denim brand’s Asia market.
The San Francisco-based company said Asia net revenues increased 12 per cent on a reported basis and 18 per cent on a constant-currency basis, reflecting growth across almost all markets in the region, including strong growth in China.
By channel, Asia direct-to-consumer net revenues rose 15 per cent on a reported basis and 23 per cent on a constant-currency basis, driven by strength in company-operated mainline and outlet stores and e-commerce.
Asia wholesale net revenues increased eight per cent on a reported basis and 13 per cent on a constant-currency basis, said the American brand.
“In the third quarter, we delivered double-digit growth in our direct-to-consumer business, driven by strong comp-store gains, which helped offset continued softness in the wholesale channel, primarily in the US,” said Chip Bergh, President and Chief Executive Officer of Levi Strauss & Co.
