"India is a young country with 54 per cent of its population below the age of 25. Given the current economic progress, and the way it is changing lifestyles of the youth in this country, it is clearly a strategically important market," says K Venkatramani, director, marketing, Levi Strauss India. Which explains why the $1.4-billion San Francisco-based company has identified India as its primary market for growth (other than China and Russia) over the next three years. During this time, the company hopes to double its turnover in the country as well.

This year, Levi Strauss India is targeting a 45-per cent growth as against 55 per cent in 2003-04, and 30 per cent in the year before. While the organised segment of the denim market is growing across price segments, it is the mid (between Rs 500 and Rs 1,000) and premium (above Rs 1,000) segments that the company is interested in. A glimpse at the market, and the reason is apparent. The Indian jeanswear market is estimated at Rs 1,700 crore and is growing at 12 per cent every year, but the premium segment is witnessing a growth of 15-20 per cent.... more