Levi’s Introduce Monthly Payment Scheme For Jeans
Aug. 24 – The Levi Strauss jean company is introducing an interest-free monthly payment scheme in India to assist the local market gain access to its products.
In moves echoing the microfinance scheme being implemented by Nokia customers will be able to purchase a pair of Levi’s priced at Rs1,599 (US$33) and pay for them in three installments.
The moves come following trials in 10 Levi stores in Bangalore, where the company found that customers using the investment option went on to purchase 50 percent more products than is the average.
“Levi’s is an extremely aspirational life-style brand in India,” Levi Strauss India’s managing director Shumone Chatterjee told the Financial Times. “A large portion of our customers would love to access Levi’s more frequently than they currently do.”
The brand is supported by Indian actor Akshay Kumar, the Bollywood film star. Consequently, the Levi’s brand is seen as a symbol of arrival for many male workers when they revisit their home villages in India. Jeans in India can cost as little as Rs200, making Levi’s a premium brand. Levi Strauss now has 230 dedicated boutiques amongst 700 points of sale across India.
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