Levi’s Spain Boosts Revenue to $90 Million with Colombian Expansion

The Spanish subsidiary of Levi Strauss is increasing its business thanks to geographical diversification. The company, through which the U.S. giant began to operate directly in the Colombian market, has reached a turnover of €90 million in the last year with available data.

This is the first time that the Spanish subsidiary of Levi Strauss presents consolidated accounts. The accounts, recently filed with the Spanish Mercantile Registry and corresponding to fiscal year 2024, reflect a turnover of €90.16 million.

The consolidated operating income of the Spanish subsidiary amounted to €8.90 million in fiscal year 2024, while the net income was 6.26 million euros.

In fiscal year 2023, when the accounts filed by Levi Strauss were individual and only reflected the business in Spain, turnover stood at €60.69 million, 27.61% higher than in the previous year. The individual operating result was €9.84 million and the net result was €8.81 million.

This is the first time that the Spanish subsidiary of Levi Strauss presents consolidated accounts.

Levi Strauss started operating in Spain with its own subsidiary in 1970. The company, domiciled in Barcelona, managed until now the commercial activity in the Spanish and Portuguese market. The company operates as a commission agent and marketing services provider for both markets for Levi Strauss Europe. Thus, the company’s turnover does not reflect the total sales of Levi’s in Iberia, as these are computed in Europe.

At the end of 2023, the Spanish subsidiary of the U.S. group incorporated the company Levi Strauss Colombia SAS, based in Antioquia, Colombia. This company started its activity in March 2024, when the group took control of its business in Colombia, until then in the hands of Expofaro.

“Unlike the parent company, whose business model is that of a commission agent, the business model used by the subsidiary is that of a distributor, assuming the risks derived from the acquisition and subsequent sale of stock,“ explains Levi Strauss in its accounts.

Of the total turnover of the subsidiary in 2024, €59.89 million corresponded to the business in Spain and Portugal, while €30.87 million corresponded to Colombia, in its first year of activity. Thus, Spain accounts for 61.05% of the business, while Colombia represents 36.54% and Portugal 2.41%.

At year-end, the Spanish company employed 1,398 people. Of the total number of jobs, 962 were in Spain, while 408 were located in Colombia and 28 in Portugal.