Reliance acquire’s John player brand from ITC

New Delhi: Reliance Retail, the retail arm of oil-to-telecom conglomerate Reliance Industries has acquired ITC’s menswear brand John Player, which caters to the mid-segment, the Economic Times reported. The business daily citing sources aware of the matter said John Player acquisition will add Rs 350 crore to the annual revenue of Reliance Retail, which runs retail fashion outlets in the name of Reliance Trends and online through Ajio.com.

“The acquisition will strengthen Reliance Retail’s readymade garments and accessories portfolio in the fashion and lifestyle retail space, and further consolidate leadership position as India’s largest, most profitable and fastestgrowing retailer,” a Reliance spokesperson told ET.