ITC, India’s tobacco-to-FMCG-to-hospitality conglomerate, is finally exiting the lifestyle business!
The Group Chairman Sanjiv Puri made it clear, in no uncertain terms, that in all practicality ITCis exiting the segment.
It was almost two decades back, the business conglomerate had entered the lifestyle segment under Wills Lifestyle brand.
Replying to media questions, Sanjiv Puri, AGM, ITC, said that as far as lifestyle retailing business is concerned, it has already exited John Players by divesting the trademark and copyright of the brand.
He added, “As far as the other brand Wills is concerned, we are right now only liquidating some old inventory that is there in very limited stores. That’s because very less inventory is left, and there are no further plans for now beyond that.
As per media reports, When further asked about whether that means exiting the business, he said “For all practical purposes, that’s what I am saying.”
