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India's Reliance Retail acquires ITC's John Players

31
Mar '19
India
India’s Reliance Retail (RRL) recently signed an agreement with the largest fast-moving consumer goods (FMCG) firm ITC Ltd to acquire its mid-segment menswear brand John Players. Launched in 2002, the brand is expected to boost RRL’s fashion and apparels portfolio. Media reports suggest the brand was acquired by RRL for ₹150-200 crore.

The acquisition may also improve ITC’s non-tobacco FMCG business margins, according to Indian media reports.

Reliance gets the assets of John Players, which includes the brand and distribution rights through 750 stores, including 65 exclusive franchise outlets.

ITC has an ambitious target of touching ₹1 trillion in revenues from non-cigarettes FMCG business—worth over ₹11,000 crore annually—by 2030 and expects the segment to drive its revenue in the next decade.

With sales worth ₹69,198 crore in 2017-18 and a growth rate of 44 per cent and 95 per cent in the past two fiscals, RRL is the largest and fastest-growing retail business house in India. During the first six months of 2018-19, it grew by 122 per cent. (DS)

Fibre2Fashion News Desk – India


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