ITC adopts news measures, goes into fast track mode

28 December 2021, Mumbai:

ITC has a slew of measures planned this includes unlocking value through the demerger of its non-cigarettes FMCG and hotels business to a possible listing. Its share price stagnated for over eight years in the Rs 200 to Rs 300 range. ITC, a Rs 53,000 crore company, has adopted a venture capitalist kind of mindset.

Delivering new products at a speed that crushes the competition is now its mantra for success. ITC is hoping for a huge revenue jump. The jump in turnover is expected to be driven by entry into newer categories and leadership in existing ones. The company is also in the process of restructuring its apparel business.

Earlier, ITC sold its apparel brand John Players to Reliance. It is investing in start-ups in the personal care segments. Also ITC Wills Lifestyle is now known as WLS. This indicates a return to nature. From fabric to threads, buttons, and labels, every garment from WLS will have of purely natural elements. All garments will be made of cotton, linen, silk or woolen materials and will be fully biodegradable. Each collection will offer a variety of garments to select from for men and women looking for original, well-made apparel that tells the story of their Indian identities in a confident yet understated manner.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage