This new joint venture deepens the existing partnership, which allows LS&CO. to harness the retail strength and local market expertise of JamilCo., complemented by dedicated investment and a team focused exclusively on growing the Levi’s® brand in Russia.
“Russia is a key growth opportunity for the Levi’s® brand on a global level,” said Armin Broger, President, Levi Strauss Europe, Middle East and North Africa. “With 142 million people, Russia is one of the most important fashion markets in the world. Levi's® was among the first western jeanswear brands to arrive in Russia and remains dedicated to providing fashion with distinctive craftsmanship, as befits a 155-year old brand with the Levi's® heritage. Through this joint venture with JamilCo, consumers will experience an even stronger Levi's® brand presence.”
The two companies expect this investment to drive the continued growth of the Levi’s® brand, by offering consumers an even broader choice of Levi’s® jeanswear and accessories from the full European collection, including products selected specifically to suit the needs of Russian consumers.
Levi’s® is the number-one selling global jeans brand in Russia. Since 2004, the number of Levi’s® stores across the country has almost doubled to more than fifty, while retail outlets selling the Levi’s® brand have more than tripled to almost three hundred. Taking advantage of the fast-paced development of new luxury shopping malls and retail outlets, Global Denim plans to continue this trend. The new company expects to open a significant number of Levi’s® stores over the next five years, focusing first on Moscow and later in outlying key cities.
“Over the last three years, we have witnessed the exponential growth of the Levi’s® brand in Russia, with turnover increasing by over 200%,” says Khaled Jamil, President JamilCo Group. “This joint venture demonstrates our companies’ shared confidence in the even greater potential for growth of the Levi's® brand. We look forward to capitalising on the advantages of this partnership, especially in providing further investment and momentum to the expansion of the Levi’s® brand presence across Russia,” he added.
About LS&CO.About LS&CO.
Levi Strauss & Co. is one of the world’s leading branded apparel companies, marketing its products in more than 110 countries worldwide. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi’s®, Dockers® San Francisco and Signature by Levi Strauss & Co.™brands. The company posted revenues of $4.4 billion in 2007.
Levi Strauss Europe, Middle East and North Africa (LSEMA) is responsible for designing, manufacturing and marketing jeans and casual wear in the region under the Levi's® and Dockers® brands. The company has a network of eight sales offices, six distribution centres, two production facilities and one finishing centre, employing a total of over 4,700 people. Its headquarters are located in Brussels, Belgium. LSEMA posted revenues of $1.02 billion in 2007 and it will announce 2008 fiscal year results on 10 February 2009.
About JamilCo Group
JamilCo Goup is a rapidly-expanding holding company with international management and international business standards. JamilCo. has been active on the Russian retail market for luxury and casual clothing and accessories of major international brands since 1993. JamilCo Group has represented the Levi’s® brand since 1988, opening the first Levi’s® store in Moscow in 1993.