Levi's EMI scheme: Four more banks to join

Denim Major Levi Strauss India is geared up to join hands with four more banks to increase consumption growth after its positive response from its equated monthly instalments (EMI) scheme.

The company launched this unique EMI scheme last year that allows consumers to buy premium-priced denims on a zero per cent interest.

At present, the company has tie-ups with Axis bank and HDFC Bank, where a buyer can pay the total amount over three equal instalments using their credit card for a shopping value of a minimum of Rs 1,500.

Shyam Sukhramani, director- marketing, Levi Strauss India, said that the company is in talks with four major banks for expansion of this scheme as there is rise in the number of consumers availing this initiative.

He added that after the launch of this scheme, Levi’s has seen a 50 per cent rise in its average value of transaction.

Levi’s is the only company in India who has come up with such initiatives and many others including Provogue, Dr Batra’s, gold jewellery chain Tanishq and furniture retailer @home are following its suits.