ITC Limited is planning to restructure its branded apparel business which is a loss-making vertical, The Hindu BusinessLine reported.

The company is in the business through 'Wills Lifestyle’ and ‘John Players’ brands.

The apparel business is among the first businesses of the company after diversifying from cigarettes to other FMCG categories, said the report.

According to the report, Sanjiv Puri, managing director of the company, told that the apparel segment did not perform as per the expectations. “Right now we are looking at restructuring the whole business. Restructuring means the whole model is being reviewed,” he was quoted by the paper.

On investing and adding new stores, Puri told, “some would have closed, some would have opened. That churn is a normal process within the industry.”

First Published:Aug 1, 2018 10:32 AM IST