Aligned with our strategic plans to accelerate direct-to-consumer (DTC) growth and further diversify our business geographically, Levi Strauss & Co. bought back 40 owned-and-operated Levi’s® brand stores in Colombia earlier this year. The acquisition, which comes in addition to franchisee partnerships for more than 50 stores in the country, marks an exciting new chapter for the brand in the Latin America region.
“We are very optimistic on the outlook of our new business in Colombia, a country with which we also share cultural and social affinity. We are excited for this opportunity to continue connecting with our consumers and bringing the best of the Levi’s® brand to our fans in the region,” said Rui Araujo da Silva, LS&Co. senior vice president and managing director, Latin America. “This purchase not only underscores our commitment to being brand-led, DTC-first and diversifying our business geographically, but also contributes to building the next chapter of our retail strength in Colombia while simultaneously following the company’s longstanding commitment to driving profits through principles.”
Our business has been gaining momentum in Latin America in recent years, leveraging on the strong foundations of the iconic Levi’s® brand. We successfully acquired our distributor in Chile, Peru and Bolivia in 2019, while markets like Mexico continue generating solid profitability. The rest of the region shows great momentum and promise to continue driving growth and leveraging our DTC-first strategy.
“Our acquisition in Colombia also highlights our vision and commitment to drive successful growth for our business in other geographies that are showing great opportunity, powered by the strength and talent of our teams,” said Rui.
Now that the acquisition is complete, the team is working on integration. We can see through trends and data that our consumers are constantly changing preferences and seeking unique brand experiences. That’s why we will over time be refreshing the acquired stores to ensure we have the best expression of the Levi’s® brand and the right product assortment. We’ll also be emphasizing our portfolio diversification — specifically by growing our women’s business and tops category — and leveraging local-for-local (L4L) initiatives across the region. These initiatives will further ensure consistency with our strategies throughout Latin America as well as our goal of becoming a denim lifestyle business.
“I am so incredibly proud of the great work and the achievements of our team in Latin America to expand our horizons, keep elevating our brand to new heights and deliver great results for the company,” said Rui. “Thank you to the teams that made this acquisition happen. I am certain there is still more to come for our region.”
