MUMBAI: Covid-associated lockdowns and stringent limits right after reopening amid mounting number of bacterial infections have taken a toll on two of the most effective global apparel merchants in India – Levi’s Strauss & Co and Hennes & Mauritz.
Each Levi’s and H&M described a sharp drop in their India revenues for the 3rd quarter, dragging their all round performance in Asia.
H&M posted a 58% drop in its India revenues at Rs 183 crore for the duration of the quarter finished August towards Rs 433 crore a calendar year back when Levi’s stated its business in India declined by $51 million, or Rs 380 crore, in the quarter finished September as several states remained in governing administration mandated lockdown.
“Asia as a area declined forty one%, mainly driven by the truth that India, just one of our largest markets in the area, was properly shut in the whole quarter,”
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