Diversified team ITC Ltd on Tuesday reported it has exited from way of life retailing business pursuing a strategic evaluate of the enterprise portfolio.

The organization entered the way of life retailing organization additional than two decades in the past beneath the Wills Way of living manufacturer. It marketed a vary of attire such as formal, everyday, night and designer wear below the manufacturer.

It also experienced John Gamers menswear variety of casuals, denims, formals and equipment.

Having said that, in 2019 the enterprise undertook a restructuring of the way of life retailing small business and scaled down the operations of the vertical and sold the John Players brand to Reliance Retail for an undisclosed sum.

”…following a strategic evaluation of its business portfolio, the enterprise has exited the way of life retailing business,” ITC mentioned in a regulatory submitting on Tuesday.

Previous month, ITC Chairman Sanjiv Puri reported that the firm was liquidating some outdated stock of the Wills brand remaining in a handful of suppliers and there have been no even further ideas to proceed the small business.

In the past, ITC had claimed that its life style retailing business enterprise was adversely impacted by e-commerce gamers which aggressively pushed to capture market place share among worth-looking for buyers by providing heavy discounts and launching unique labels and manufacturers.