{"id":4524,"date":"2019-03-27T03:34:27","date_gmt":"2019-03-27T03:34:27","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=4524"},"modified":"2019-03-30T11:09:13","modified_gmt":"2019-03-30T11:09:13","slug":"reliance-industries-acquires-itcs-john-players-for-rs-150-crore","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/reliance-industries-acquires-itcs-john-players-for-rs-150-crore\/","title":{"rendered":"Reliance Industries acquires ITC&#8217;s John Players for Rs 150 crore."},"content":{"rendered":"<p style=\"text-align: justify;\">Reliance Retail Ltd (RRL), the retail arm of Reliance Industries said on Tuesday that it has bought ITC Ltd&#8217;s menswear brand John Players.<\/p>\n<p style=\"text-align: justify;\">The acquisition will bolster RRL&#8217;s readymade garments and accessories portfolio in the fashion and lifestyle retail space, Reliance told Reuters in an email. Reliance Retail runs retail fashion outlets through Reliance Trends and Ajio.com.<\/p>\n<div id=\"zdt_3644892_1_wrapper\" style=\"text-align: justify;\">\n<div id=\"containerDiv-3644892_1\">\n<div id=\"mainPlayerDiv-3644892_1\" class=\"zg-mainContainer\">ITC sold its brand John Players and related trademarks and intellectual property to RRL under its restructuring plan, an ITC spokesperson told the news agency.<\/div>\n<\/div>\n<\/div>\n<div>\n<p style=\"text-align: justify;\">At the same time, both Reliance Retail and ITC did not delve into the financial details of the deal.<\/p>\n<p style=\"text-align: justify;\">As per the report in the Economic Times earlier, RRL procured John Players&#8217; assets which include the brand itself and its distribution rights through 750 stores and 65 exclusive franchise outlets for an estimated value of Rs 150 crore ($21.79 million).<\/p>\n<p style=\"text-align: justify;\">Previously this month,\u00a0 Reuters reported that Reliance planned to expand the number of low-cost Reliance Trends fashion stores across India to 2,500 from 557 over the next five years and assimilate them with its online business.<\/p>\n<p style=\"text-align: justify;\">Reliance plans to further go into a diverse e-commerce and extend into fashion as the conglomerate&#8217;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&#8217;s Flipkart.<\/p>\n<p style=\"text-align: justify;\">Reliance shares climbed 1.6 percent as of 0602 GMT while those of ITC were 0.95 percent lower in Mumbai trading.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Reliance Retail Ltd (RRL), the retail arm of Reliance Industries said on Tuesday that it has bought ITC Ltd&#8217;s menswear brand John Players. The acquisition will bolster RRL&#8217;s readymade garments and accessories portfolio in the fashion and lifestyle retail space, Reliance told Reuters in an email. Reliance Retail runs retail fashion outlets through Reliance Trends [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[525,3617,248],"class_list":["post-4524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-itc","tag-john-players","tag-reliance-industries-limited"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Reliance Industries acquires ITC&#039;s John Players for Rs 150 crore. - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/reliance-industries-acquires-itcs-john-players-for-rs-150-crore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reliance Industries acquires ITC&#039;s John Players for Rs 150 crore. - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"Reliance Retail Ltd (RRL), the retail arm of Reliance Industries said on Tuesday that it has bought ITC Ltd&#8217;s menswear brand John Players. 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