ITC exits apparel, sells John Players to Reliance Retail as it seeks pivot beyond cigarettes
ITC has shuttered underperforming apparel lines and offloaded menswear brand John Players to Reliance Retail. With 93% of profits still tied to a declining cigarette business, the conglomerate is under pressure to reposition around food and a low-carbon farmer-to-consumer supply chain.
ITC closed underperforming apparel businesses and sold menswear brand John Players to Reliance Retail. With 93% of profits from cigarettes amid declining smoking, ITC faces pressure to pivot toward food and a low-carbon farmer-to-consumer supply chain.
Why this matters
The apparel exit lands as ITC repeatedly hit 52-week highs in broad BSE rallies, contrasting sharply with Future Retail and Future Lifestyle sliding to fresh lows.
Retail-company signals are accelerating, up +587300% QoQ.