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.India's Reliance Retail Ltd (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.#
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)
ALCHEMPro News Desk – India
marketing@alchempro.com
