ITC Goes Online for Lifestyle Biz Growth
New Growth Channel To launch products under John Players brand for ecomm
said the move is prompted by the success on ecommerce platforms such as Myntra, Flipkart and Snapdeal
these channels has doubled the growth rate of John Players to over the premium Wills Lifestyle business
around 10% of revenue for ITC’s lifestyle retail business is generated from online sales which would grow up to this fiscal Kolkata: The diversified ITC group is embracing the online marketplace route to push its lifestyle retail business, especially its apparel brand John Players, which it plans to expand into newer categories.
Atul Chand, ITC’s chief executive for lifestyle retailing business, said the company is considering introducing the John Players brand in categories such as footwear, eyewear, backpacks and bags, all of which will be sold through online marketplaces.
The company said the move is prompted by the success that the John Players brand has had in online sales through Myntra, Flipkart and Snapdeal—in the last 12 months, the sales growth rate of John Players has doubled to 20% over the premium Wills Lifestyle business. Chand said the company also plans to launch an exclusive line of clothing for John Players for ecommerce.
“John Players is among the top selling apparel brands online in the leading marketplaces. We are expanding the brand into newer categories specifically for online, and if it’s successful, we would even take them to the brick-and-mortar stores,” Chand said. “All such expansion will be in products which are of interest to younger consumers, the target for John Players.”
ITC has an exclusive online store for its Wills Lifestyle and John Players’ products but its sales are a fraction of what comes through online marketplaces. Chand said the exclusive online store will continue but the company will focus more on partnering with online marketplaces. ITC has already launched some apparel lines-- wind cheaters, message T-shirts and hoodies--under the John Players brand which will be sold only online. At present, about 10% of revenue for ITC’s lifestyle retail business is generated from online sales and the company is targeting 15% this fiscal.