Yousta is a new value retail shop style being developed by Reliance Retail, the largest organised retailer in the nation. Reliance Retail will be directly competing with Trent’s Zudio, Landmark Group’s Max Fashion, and Shoppers Stop’s Intune as a result of the move, knowledgeable sources have told Fe, as growth potential for the category beckon.
According to the sources, Reliance Retail would initially launch the new Yousta stores in cities like Hyderabad, Delhi, and Mumbai. These stores will range in size from 5,000 to 10,000 square feet.
The number of Yousta stores will gradually increase in the months to come, with Reliance Retail aiming to increase that number to 200–250 over the following few years. According to those in the know, the store is in talks with malls and high streets in various locations to lease space for the new format. Reliance Retail executives weren’t immediately available for comment.
Reliance Retail’s action, according to some experts, is a belated recognition of a sector that accounts for roughly 90% ($45 billion) of the projected $50 billion domestic fashion market. A 10% ($5 billion) share of the local fashion market is estimated for the premium end.
“The upper end of the fashion sector has received a lot of attention from clothing shops lately. Despite the high levels of wealth at the top, the market has grown congested with national and international brands, according to Devangshu Dutta, CEO of Gurugram-based retail consultant Third Eyesight.
“The larger value retail market has consumers in the middle and lower middle class who, while being conscious of their budgets, are also aspirational,” he claims. “With the right product and pricing, volume sales can be significant in this segment,” he claims.
Reliance Retail already has Reliance Trends, a value retail model with almost 2,500 locations nationwide. According to industry experts, the company has been attempting to expand its appeal in the category by adding more store types. They assert that Yousta will fill that gap.
