Levi’s, H&M report sharp fall in India Q3 sales as pandemic continues to hurt business, Retail News, ET Retail

Davida Erdahl

MUMBAI: Covid-linked lockdowns and stringent restrictions right after reopening amid mounting variety of infections have taken a toll on two of the most prosperous international clothing vendors in India – Levi’s Strauss & Co and Hennes & Mauritz.

Both Levi’s and H&M claimed a sharp fall in their India revenues for the third quarter, dragging their over-all general performance in Asia.

H&M posted a fifty eight% drop in its India revenues at Rs 183 crore for the duration of the quarter ended August in opposition to Rs 433 crore a calendar year ago although Levi’s stated its business in India declined by $fifty one million, or Rs 380 crore, in the quarter ended September as quite a few states remained in government mandated lockdown.

“Asia as a area declined forty one%, mostly pushed by the simple fact that India, one of our biggest marketplaces in the area, was successfully closed

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