ITC will soon shut down its premium retail brand Wills Lifestyle. This move is in line with the company’s larger strategy to restructure and remodel the loss-making lifestyle retailing vertical.
In earlier 2019, ITC had sold its other retail brand John Players to Reliance Retail and re-launched Wills Lifestyle as WLS to focus on sustainable fashion.
The company’s employees of the existing business are being absorbed into other businesses.
Wills Lifestyle has been hit by competition and aggressive discount being offered by e-commerce players such as Flipkart and Amazon. In the offline space too, ITC’s lifestyle business has been facing stiff competition from value fashion retailers like Reliance Trends, Future Group’s FBB and Lifestyle’s Max.
The GST rollout has also impacted ITC’s lifestyle business adversely. Presently, Wills Lifestyle runs 350 outlets across multiple channels, including e-commerce.