Urvashi Jha

Bangalore

It maybe run of the mill to buy cars, homes and consumer goods on equated monthly installments (EMIs). But how about buying a pair of jeans on EMI?

In a bid to fit into tight pockets of consumers during the present curtailed spending phase, denim major Levi's is piloting this innovative marketing offer wherein consumers can buy premium jeans on a zero percent interest.

The marketing strategy is being piloted in Bangalore presently and will be rolled out nationally soon. To avail this offer a consumer needs to shop for a minimum of Rs 1,500. The amount can be settled with a credit card in three equal installments.

Shumone Chatterjee, MD of Levi Strauss India told FC, “It is for the first time that a brand is offering this kind of deal in India. EMI has proven good for several industries such as housing and white goods; therefore I feel that it will make a significant difference to the branded apparel industry as well.”

He added, “The idea is to not only achieve a high conversion rate (walk-ins conversion into spending) but also enable our consumers to spend more and purchase higher-end denim through an easy mode of payment. If this EMI scheme works well in Bangalore then we will unveil this nationally in a couple of months.”

The company ad mitted that there has been a softening in jeans sales over the past one year.

While the official did not want to give out the sales numbers during this lean phase due to competitive reasons, he said, “Jeans buying is largely on impulse, therefore the consumers have limited spend on items like these.”

Levi’s feels that this scheme will help in attracting consumers who buy unbranded jeans. The company has tied-up with ICICI Bank for this EMI scheme.

Levi’s denim ranges between Rs 1,500-4,000 compared to unbranded jeans that is available under Rs 500. Levi’s also offers mid-priced denim under the brand Levi’s Signature.

urvashijha

@mydigitalfc.com