<p> Diversified group ITC Ltd on Tuesday said it has exited from lifestyle retailing business following a strategic review of the business portfolio.</p>.<p>The company entered the lifestyle retailing business more than two decades ago under the Wills Lifestyle brand. It sold a range of apparel including formal, casual, evening and designer wear under the brand.</p>.<p>It also had John Players menswear range of casuals, denims, formals and accessories.</p>.<p>However, in 2019 the company undertook a restructuring of the lifestyle retailing business and scaled down the operations of the vertical and sold the John Players brand to Reliance Retail for an undisclosed amount.</p>.<p><b>Also Read | <a href="https://www.deccanherald.com/business/business-news/markets-on-edge-over-nancy-pelosis-trip-to-taiwan-1132431.html" target="_blank">Markets on edge over Nancy Pelosi's trip to Taiwan</a></b></p>.<p>"...following a strategic review of its business portfolio, the company has exited the lifestyle retailing business," ITC said in a regulatory filing on Tuesday.</p>.<p>Last month, ITC Chairman Sanjiv Puri said that the company was liquidating some old inventory of the Wills brand left in a few stores and there were no further plans to continue the business.</p>.<p>In the past, ITC had said that its lifestyle retailing business was adversely impacted by e-commerce players which aggressively pushed to capture market share amongst value-seeking consumers by offering heavy discounts and launching exclusive labels and brands.</p>
<p> Diversified group ITC Ltd on Tuesday said it has exited from lifestyle retailing business following a strategic review of the business portfolio.</p>.<p>The company entered the lifestyle retailing business more than two decades ago under the Wills Lifestyle brand. It sold a range of apparel including formal, casual, evening and designer wear under the brand.</p>.<p>It also had John Players menswear range of casuals, denims, formals and accessories.</p>.<p>However, in 2019 the company undertook a restructuring of the lifestyle retailing business and scaled down the operations of the vertical and sold the John Players brand to Reliance Retail for an undisclosed amount.</p>.<p><b>Also Read | <a href="https://www.deccanherald.com/business/business-news/markets-on-edge-over-nancy-pelosis-trip-to-taiwan-1132431.html" target="_blank">Markets on edge over Nancy Pelosi's trip to Taiwan</a></b></p>.<p>"...following a strategic review of its business portfolio, the company has exited the lifestyle retailing business," ITC said in a regulatory filing on Tuesday.</p>.<p>Last month, ITC Chairman Sanjiv Puri said that the company was liquidating some old inventory of the Wills brand left in a few stores and there were no further plans to continue the business.</p>.<p>In the past, ITC had said that its lifestyle retailing business was adversely impacted by e-commerce players which aggressively pushed to capture market share amongst value-seeking consumers by offering heavy discounts and launching exclusive labels and brands.</p>