Reliance Retail, one of India’s major retail players, is gearing up to introduce its new value fashion brand called ‘Yousta.’
The company intends to open 200-250 stores under this brand in the coming years, directly competing with Tata Group’s Zudio chain. The first store of this new format, Yousta, is expected to launch in August in Hyderabad.
To support its expansion, Reliance Retail is actively looking for suitable mall spaces, particularly around 10,000 sq.ft., in Delhi to establish a flagship Yousta store.
The move comes amid a competitive landscape in the value fashion segment in India. Several prominent corporate players, including Tata Group, Shoppers Stop, and others, are keen on capitalising on the vast market potential of value fashion in the country.
Currently, this market is dominated by the unorganised sector, with only a few established players like V-Mart and 1IndiaFamily Mart.
Tata Group’s Zudio brand, for instance, is already on an aggressive expansion path, planning to add around 130 stores throughout the calendar year. With approximately 350 stores already in operation, the planned expansion in 2023 will bring the total store count close to 500.
Shoppers Stop is also making strides in the value retail segment through its brand Intune, which has opened two stores so far in Hyderabad and Mumbai.
Retail experts highlight the significance of the value segment in India, estimating that around 90 per cent of overall consumption is likely to take place in this space. The growth potential in the fashion industry is immense, as millions of Indians are transitioning from unbranded apparel to branded fashion and lifestyle products.
