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Reliance Industries' retail arm has acquired men's wear brand John Players from ITC Limited. The acquisition adds Rs 350 billion ($52.6 million) to Reliance Retail's apparel business as ITC shifts its focus to the premium segment. According to the ET Bureau report, the deal signed last week is said to be worth Rs 150 billion. . Reliance Retail now owns John Players' assets, including distribution rights in 750 stores and 65 popular brands, and Reliance Retail manages mid-sized menswear brands under its Reliance Trends and Ajio divisions. John Players is the latest acquisition by Reliance Industries, whose retail division continues to strengthen the fashion and lifestyle market in India. "This acquisition will strengthen Reliance Retail's apparel and accessories fashion and lifestyle businesses and rapidly strengthen the company's leadership position as India's largest, most profitable retailer," a spokesperson for Reliance Industries said in a statement.