India : ITC's Lifestyle Retailing registers 26% growth

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ITC's Lifestyle Retailing registers 26% growth

26
May '08

ITC Ltd. concluded yet another year of strong performance with Gross Turnover at Rs.21356 crores reflecting a growth of 10.7% over the previous year.

Lifestyle Retailing
The Lifestyle Retailing business continued to enjoy a high brand salience in the minds of consumers, both in the premium and popular segments of the branded apparel market. Domestic sales grew by 26% over the previous year, while exports registered a growth of 17%.

In the premium segment, 'Wills Lifestyle' continues to be a leader with a range that provides a classy expression of contemporary trends, styled and accessorized to give discerning customers the look of the season, in tune with the international fashion mood.

Its association with the 'Wills Lifestyle India Fashion Week' continues to add to the stature and premium imagery of the 'Wills Lifestyle' brand. The introduction of the 'Essenza Di Wills' and 'Fiama Di Wills' range of personal care products at the 'Wills Lifestyle' outlets has helped augment the lifestyle portfolio. The business re-launched its customer privileges programme, 'Club Wills', by incorporating a Platinum category, which offers more personalized services to enhance the shopping experience.

The Wills Lifestyle brands are now available nationwide at 50 exclusive stores and in more than 150 'shop-in-shops'. The soaring rental costs have hampered the pace of store expansion, as it has for the rest of the industry. The business is taking earlypositions in key malls and considering selective ownership of stores to mitigate the impact of rising rental costs and maintain its growth trajectory.

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