Levi Strauss India spends Rs 118.4 crore on advertising in FY2024

New Delhi: Levi Strauss' (India) 'advertising promotional expenses' in FY24 were up 15.62% to Rs 118.4 crore. This was at Rs 102.4 crore a year ago in FY23.

The company posted a 13.4% decline in profit to Rs 159.4 crore in FY24 even as its sales rose 3.3% to Rs 1,668.7 crore, the company said in an RoC filing.

The total revenue of Levi Strauss (India) was up 3.4% to Rs 1,843.7 crore for the financial year that ended on March 31, 2024, helped by other income, according to financial data accessed through the business intelligence platform Tofler.

Levi Strauss (India) had reported a total standalone profit of Rs 184.1 crore a year before in FY23 and its revenue from the sale of products was at Rs 1,615.1 crore.

Levi Strauss (India) royalty fees paid to its California, US-based parent company Levi Strauss & Co was at Rs 119.5 crore, up 4.27%. The 'cost royalty' of the denim maker was at Rs 114.6 crore a year ago.

Total expenses of Levi Strauss (India) during the financial year under review were Rs 1,630.2 crore.

Levi Strauss (India) is 99.95% owned by Levi Strauss Mauritius, a unit of Levi Strauss & Co.

It has "strong support from its parent company, Levi Strauss & Co, considering the potential of the Indian market and the strength of the brand," Levi Strauss (India) said in its overview.

On the future outlook, it said the Indian economy is on course to be among the top economies in the world.

"The key factors driving the India consumption story include a large proportion of the young population, rising urbanisation, growing affluence, increasing discretionary spending and deeper penetration of digital," it said.

As the year progresses and things return to normal, the company should be in a much stronger position to bounce back, given its portfolio of strong brands, innovative processes and a credible workforce, it added.