ITC’s Big Announcement – To Exits from Lifestyle Retail Business!! ITC Limited is an Indian company headquartered in Kolkata. IT provides such as FMCG, hotels, software, packaging, paperboards, and agribusiness across India. This company has 13 businesses and it exports its products to 90 countries. This company has announced on Tuesday that it exits it’s lifestyle retail business.
This decision was made after a strategic review of its business portfolio, the company said. On regarding this ITC chairman Sanjiv Puri said, to take our company to the next level we strongly focus on building future categories to power growth with world-class mother brands. Moreover, the company was liquidating some old inventory of the Wills brand left in a few stores from the last month.
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On continuing this action which is exits lifestyle retailing business is taken after two decades by ITC. Which means, this ITC company has entered into the lifestyle retailing business under the Wills Lifestyle brand. It provides formal, casual, evening and designer wear, denims, formals and accessories under the brand. In the past, ITC had said that its lifestyle retailing business was adversely impacted by e-commerce companies. This now urged ITC to take this conclusion.
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