Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Reliance Industries Buys ITC's Menswear Brand John Players

With the John Players acquisition, Reliance plans to double the number of low-cost Reliance Trends fashion stores across India over the next five years.

News18.com

Updated:March 26, 2019, 1:42 PM IST
facebookTwitterskypewhatsapp
Reliance Industries Buys ITC's Menswear Brand John Players
Picture for Representation. (Getty Images)

Reliance Industries Ltd said on Tuesday its unit Reliance Retail Ltd (RRL) has acquired consumer goods company ITC Ltd's menswear brand John Players.

The acquisition would strengthen RRL's readymade garments and accessories portfolio in the fashion and lifestyle retail space, Reliance told Reuters in an email.

ITC sold the brand John Players and related trademarks and intellectual property to Reliance Retail as part of its restructuring plan, an ITC spokesperson said.

The two companies, however, did not disclose the financial details of the deal.

The Economic Times had earlier reported that Reliance bought the John Players brand and distribution rights through 750 stores, in addition to 65 exclusive franchise outlets, for an estimated 1.50 billion rupees ($21.79 million).

Earlier this month, sources told Reuters that Reliance planned to grow the number of low-cost Reliance Trends fashion stores across India to 2,500 from 557 over the next five years and integrate them with its online business.

Reliance plans to diversify into e-commerce and expand in fashion as the conglomerate's billionaire owner Mukesh Ambani aims to grab a dominant share of Indian consumer spending in a struggle with rivals, particularly Amazon.com Inc and Walmart Inc's Flipkart.

Reliance shares climbed 1.6 percent as of 0602 GMT while those of ITC were 0.95 percent lower in Mumbai trading.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
IRCTC 727.75 127.42
Infosys 786.10 -3.52
Yes Bank 40.10 1.26
Tata Motors 127.85 5.40
Indiabulls Hsg 197.80 -5.76
Company Price Change %Gain
Fortis Health 130.55 -5.36
IRCTC 728.60 127.69
Indiabulls Hsg 197.90 -5.74
Yes Bank 40.00 1.01
Tata Motors 127.80 5.32
Top Gainers
Company Price Change %Gain
Tata Motors 127.85 5.40
ONGC 135.25 4.84
Bharti Airtel 393.55 2.78
UltraTechCement 4,170.30 2.28
IndusInd Bank 1,250.60 2.24
Company Price Change %Gain
Tata Motors 127.80 5.32
ONGC 135.20 4.73
Bharti Airtel 393.50 2.84
IndusInd Bank 1,250.50 2.23
Sun Pharma 394.60 2.15
Top Losers
Company Price Change %Gain
Infosys 786.10 -3.52
Bajaj Finance 3,883.30 -2.26
Power Grid Corp 198.40 -1.29
Bajaj Finserv 8,082.25 -1.07
UPL 586.65 -0.54
Company Price Change %Gain
Infosys 785.65 -3.68
Bajaj Finance 3,881.65 -2.37
Power Grid Corp 198.45 -1.27
Larsen 1,422.65 -0.34
Kotak Mahindra 1,583.75 -0.27

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results