ITC to reportedly shut down loss-making retail brand WLS
Sep '19
The company’s employees in the existing business are being absorbed in other businesses, according to a report in a top English-language business daily.
WLS has been hit by competition from value fashion retailers and e-commerce companies offering aggressive discounts. The rollout of the goods and services tax had also affected ITC’s lifestyle business adversely. Presently, WLS runs 350 outlets across multiple channels, including e-commerce. (DS)
Fibre2Fashion News Desk – India
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