Maximize your media exposure with our single PR package
ITC to reportedly shut down loss-making retail brand WLS
18 Sep 19 1 min read
ITC will reportedly soon shut down its premium brand Wills Lifestyle, a step in line with the company’s wider strategy to restructure and remodel the loss-making lifestyle retailing vertical. Earlier this year, the company had sold its other retail brand John Players to Reliance Retail and re-launched Wills Lifestyle as WLS to focus on sustainable fashion.
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)
Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.
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
Popular News
|
New garment accessory factory to create 20,000 jobs in Kenya |
|
Vietnam's economy to see gradual recovery in 2024: World Bank |
|
Bangladesh garment makers seek US support for fair apparel pricing |
|
Australia ramps up sustainable fashion amid growing awareness |
|
Global sports company Puma & Scuderia Ferrari launch new collection |
|
Vietnam’s textile & apparel sector sees FDI revival: Reports |