On Tuesday, the conglomerate RIL has taken over ITC's John Players i.e. menswear brand. Reliance on the acquisition said that the acquisition would add on to the readymade garments and accessories portfolio of RRL in the lifestyle and fashion space.
As part of the restructuring plan, the paper to tobacco company sold John Players and concerning intellectual property and trademarks to RRL.
The financial consideration of the deal remains undisclosed.
Earlier in March, the news came in that Reliance wishes to expand its low-cost Reliance Trends store to 2500 from the current 557 and combine the same with its online business model.