Levi’s India: 31 Years, 6 Leaders, 500 Stores — The Scorecard of an Iconic Journey

From its first store in Bengaluru in 1995 to Store No. 500 in the same city in 2026, Levi’s India has evolved from an aspirational American denim brand into a ₹2,217 cr business, one of Levi Strauss & Co.’s leading global markets and an increasingly important India-for-India product and innovation engine.

I have had the privilege of being associated with Levi’s even before its India entry and, over the years, of working closely with each of the leaders who have shaped the business. Across 31 years, each leader has presided over a distinctly different phase—from establishing the operating platform and expanding distribution to building scale, restoring profitability, developing digital and omnichannel capabilities, premiumising the proposition and, most recently, combining retail scale with localisation and productivity.

The latest milestone came on 21 August 2026, when Levi’s opened its 500th Indian store at Phoenix Marketcity Whitefield, Bengaluru, in its ICON format. The location is significant: Bengaluru was also the city where Levi’s opened its first Indian store in June 1995.

FROM MARKET ENTRY TO INDIAN LEADERSHIP

Levi’s entered India in the early years of economic liberalisation, when an authentic pair of Levi’s jeans was already an object of aspiration for a generation exposed to global fashion but with limited access to international brands. The initial Indian platform was established by Sanjay Choudhuri, the founding Managing Director from 1994 to 1997, followed by Marc de Mulder, who led the business from October 1997 to September 1998. Together, they laid the corporate, manufacturing, distribution and early retail foundations for Levi’s in India.

This story, however, focuses on the six Indian leaders who subsequently led Levi’s India through its most significant phases of evolution — from building national scale and correcting the business model to restoring profitability, embracing digital and omnichannel retail, accelerating premiumisation and taking the brand into its next India-led growth chapter.

From C.S. Suryanarayanan, who took charge in October 1998, to Hiren Gor, who leads the business today, these six leadership chapters trace Levi’s transformation from an aspirational American denim brand into one of India’s most formidable fashion and lifestyle businesses.

THE TWO LEADERS WHO LAID THE ORIGINAL PLATFORM

The six chapters that follow focus on the Indian leaders who led Levi’s through its subsequent transformation and scale-up.

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C.S. SURYANARAYANAN | OCT 1998–JAN 2004

Taking The Early Platform To National Scale

When C.S. Suryanarayanan took over in October 1998, Levi’s already had its initial Indian operating platform in place. His task was to build on that foundation and take the business into a wider phase of commercial expansion. During his tenure, the brand broadened distribution, worked towards greater accessibility, expanded beyond its narrow early positioning and introduced categories such as Dockers as Levi’s sought a larger role in India’s evolving casualwear market.

SHUMONE JAYA CHATTERJEE | 2004–JUL 2010

Scale, segmentation and distribution correction

Chatterjee took charge in 2004 after five years as Levi’s India marketing head. During his tenure, the company expanded across cities, categories and price points. By 2004, Levi’s and Dockers were present in about 50 Indian cities, with expansion planned to 62 cities.

The strategy operated at both ends of the market. Rivet/Icon created a premium experiential format, with the first Indian Rivet store opening in Bengaluru. Levi Strauss Signature, launched in 2005 at ₹599–999, addressed the standard-price jeans segment, targeting consumers aged 15–22 and Tier-II markets. The company planned 200 exclusive Signature outlets and another 1,000 MBOs.

The resulting distribution was extensive. By 2006, Levi’s had approximately 500 outlets including exclusive and multi-brand stores. A later industry account recorded 450 exclusive outlets in 80 cities and about 2,000 MBO points, comprising 215 Levi’s-brand stores, 100 Signature and 35 Dockers stores.

The company subsequently began correcting the distribution architecture. In 2006, it started phasing out several of its 460 MBOs, converting some profitable outlets into exclusive franchisees as it sought greater control over brand presentation. The company was targeting 300 exclusive stores by 2008, approximately 150 Levi’s premium stores and 150 Signature stores.

SANJAY PUROHIT | JUL 2010–JUL 2016

The profitability reset

Purohit inherited a scaled business with a broad portfolio and a complicated distribution history. The response was a sharper focus on the core Levi’s brand, portfolio management, franchise economics, disciplined expansion and product innovation. The Denizen experience contributed to the subsequent portfolio rationalisation.

The financial turnaround was substantial. Revenue recovered from ₹484 cr in FY13 to ₹599 cr in FY14, while PAT moved from a ₹161 cr loss to ₹49 cr profit. The FY14 result was reported as Levi Strauss India’s first net profit after nearly two decades in the country.

SANJEEV MOHANTY | AUG 2016–NOV 2021

From retailer to consumer platform

Mohanty returned to Levi Strauss in August 2016 after earlier serving as a product manager from 1999 to 2001. His subsequent experience at Benetton and Jabong brought together physical-retail and digital expertise at a time when smartphones and e-commerce were rapidly changing Indian fashion retail.

The business strengthened DTC, e-commerce, digital capabilities and omnichannel integration, alongside continued attention to store productivity and the quality of distribution. In late 2021, Levi Strauss & Co. elevated Mohanty to lead its U.S. and Canada commercial operations, its largest and most complex commercial cluster, crediting him with strengthening the South Asia business and teams and delivering industry-leading results.

The period immediately following Mohanty’s tenure also deserves recognition. From November 2021 to July 2022, Arunkumar Nath served as Interim CEO and CFO for eight months, during which Levi’s India recorded 52% revenue growth, its highest till then. The period also witnessed an acceleration in store refurbishments, store openings and franchisee engagement, providing an important bridge between the pandemic recovery and the next phase of growth.

AMISHA JAIN | JUL 2022–JUL 2025

Premiumisation, women and cultural relevance

Jain was appointed Senior Vice President and Managing Director of South Asia, Middle East and Africa in 2022, succeeding Mohanty. Her experience across digital and physical retail and her record in profitable, sustainable growth and transformation proved important as Levi’s rebuilt momentum following the pandemic.

During her tenure, Levi’s India delivered high-teens growth and achieved the No. 1 brand-equity position in denim and apparel in India, according to the 2025 corporate profile.

The physical proposition expanded through NextGen and ICON formats, Tailor Shops and personalisation, while women’s denim, broader fits, tops and non-denim apparel became increasingly important to the growth strategy. The cultural strategy during this period also expanded through new celebrity associations, including Diljit Dosanjh, strengthening Levi’s contemporary cultural relevance while the brand continued to deepen its fashion credentials.

FY25 revenue from operations was ₹2,217 cr, up from ₹1,836.4 cr in FY24, while PAT rose to ₹202.3 cr from ₹159.4 cr.

HIREN GOR | AUG 2025–PRESENT

500 stores and the India-for-India proposition

Hiren Gor became Managing Director for South Asia, Middle East and Africa in August 2025 after 16 years with Levi Strauss, having previously served as General Manager for South Asia. His tenure has focused on retail-fleet transformation, the ICON strategy, digital and omnichannel expansion, localisation and stronger teams.

His first major India milestone was the opening of Levi’s 500th store on 21 August 2026 at Phoenix Marketcity Whitefield, Bengaluru, in the ICON format.

The current proposition is increasingly local in design and assortment. Levi’s India has a 10-member design team; more than 95% of products sold in India are made locally; about 95% of products made in India are designed for the Indian market; and approximately 85% are original India-for-India designs. The women’s portfolio is also being expanded through more expressive, style-led and comfort-first fits, with Alia Bhatt as a global Levi’s brand ambassador.

The early consumer response has been equally significant. It is understood that SS26 delivered Levi’s India’s best sell-out season in its history, adding a powerful consumer-performance marker to the 500-store milestone and suggesting that the current product, retail and brand strategy is translating into stronger demand at the point of sale.

THE FINANCIAL SCORECARD: FROM ₹599 CR TO ₹2,217 CR

FY25 revenue increased 20.73%, while PAT rose 26.91%. From FY14’s ₹599 cr revenue base to FY25’s ₹2,217 cr, the business has grown approximately 3.7 times; PAT has risen from ₹49 cr to ₹202.3 cr, more than fourfold.

THE RETAIL SCORECARD: FROM THE FIRST STORE TO 500

The early store figures need to be read according to their respective definitions: the ~500 outlets in 2006 included exclusive and multi-brand outlets, while the later 450 figure referred to an exclusive network comprising Levi’s, Signature and Dockers formats.

The retail model consequently moved through exclusive launch, broad distribution, mass-market expansion, MBO rationalisation, controlled-format growth, DTC and omnichannel retail, and finally a 500-store experiential network.

INDIA-FOR-INDIA: THE PROPOSITION HAS CHANGED

The business has therefore evolved from adapting a global denim proposition for India to developing products and assortments around Indian consumers.

FY26 AND Q1 FY27: INDICATIVE TRAJECTORY

Levi Strauss India is a private company and does not publicly disclose FY26 and Q1 FY27 India financials in the manner of a listed retailer. The following figures are therefore analytical estimates, not reported company results.

*Q1 FY27 is an indicative estimate and is not derived by simply dividing annual revenue by four, given apparel-retail seasonality.

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FROM STORE NO. 1 TO STORE NO. 500

Levi’s India began with a single Bengaluru store in 1995 and has since passed through distinct phases of market creation, distribution expansion, segmentation, MBO rationalisation, profitability improvement, digital transformation, premiumisation and India-led product development.

The financial scale tells one part of the story: revenue has risen from ₹599 cr in FY14 to ₹2,217 cr in FY25, while PAT has increased from ₹49 cr to ₹202.3 cr. The retail scale tells another: from the first Bengaluru store to 500 stores across the country.

The more enduring change is in the nature of the business. Levi’s has expanded from a jeans-led proposition to a broader lifestyle wardrobe, from physical distribution to an omnichannel consumer platform, and from a global assortment adapted for India to increasingly India-for-India design and product development.

And the journey has come full circle geographically.

Bengaluru hosted Levi’s first Indian store in 1995 and its 500th store in 2026, in the largest and most premium ICON format.

Thirty-one years, six leaders, one red tab—and a very different India business behind it.