Reliance bought the $ 100 million ITC John Players brand
Business desk RIL's Reliance Retail Ltd (RRL) estimated Rs. The 150-crore ITC menswear brand will buy John Players. However, it has not disclosed the financial details of the deal by both the companies. This deal will strengthen RRL's redeemed garments and accessory portfolio through 65 exclusive franchise outlets, along with 750 stores of John Players.
ITC has stated this to be sold as part of its restructuring plan. Reliance group plans to increase the number of its fashion stores from 557 to 2500 over the next five years. The company plans to achieve an ambitious share of diversification in e-commerce.