Reliance Retail Launches Fashion Chain Yousta: In order to compete with Shoppers Stop’s new mass-market brand InTune, the Landmark Group-owned Max, and Tata’s Zudio chain, Reliance Retail Ltd. has introduced a new brand called Yousta.
Yousta provides high fashion at competitive prices for young consumers with modern, tech-enabled store designs, according to a statement from the nation’s largest retailer.
The majority of the products have a price of less than Rs 499, and all are priced below Rs 999. In Hyderabad’s Sarath City Mall, it recently opened its first Yousta location.
“Yousta is a young and dynamic brand that underlines a way of life, which will grow and evolve with the youth of this country,” said Akhilesh Prasad, president at Reliance Retail.
According to the company, Yousta stores feature a variety of tech features, including charging stations, self-checkout counters, free Wi-Fi, and QR-enabled screens for information sharing.With Yousta, the retailer hopes to broaden its selection by continuing to offer unisex and character merchandise along with a new collection every week. The company announced that it will offer a “Starring Now” collection for the same, where customers can purchase the newest fashion as a complete outfit with matching accessories.
“The team will continuously work with India’s younger generation to understand their evolving fashion needs. Everyday will be ‘Day One’ in terms of freshness and relevance,” Prasad said.
The Yousta range can also be accessed online through Ajio and JioMart. The new brand will help Reliance Retail tap into India’s vast market for value fashion, which is currently dominated by the unorganised sector.
There are many regional value fashion retailers, such as One Family Mart and Kolkata Bazaar. Listed players such as V-Mart Retail Ltd. and D-Mart (Avenue Supermarts Ltd.) also operate in the space, but competition has intensified with new brands such as Zudio and InTune accelerating store additions and jostling for a slice of the growing value fashion market.
Aditya Birla Fashion and Retail Ltd. unveiled the Style Up chain of affordable clothing stores in 2019, targeting customers in rural areas and small cities. Major cities are the focus of its other multi-brand retail chain, Pantaloons.
Since FY17, formats like Zudio and Max Fashion have added 350 stores, while Pantaloons has added 222 stores and V-Mart has added 282 (including inorganic). Shoppers Stop introduced InTune in June of this year by opening two stores in Hyderabad and one in Mumbai. Targeting tier 2 and tier 3 markets, the retailer plans to open 10 additional stores by the end of September while it is still in the pilot stage. However, the increased competition is putting pressure on DMart’s apparel division.
While Reliance has Trends and recently launched premium fashion and lifestyle store Azorte to compete directly with fast fashion brands Zara and H&M in India, it has no brand category to compete with the likes of Zudio and Max. The launch of a new store is aimed at filling this gap.
“About 68% of the apparel retail market in India is unorganized,” IIFL Securities wrote in a note “The organised value fashion serves as a bridge for the unorganized consumer to enter the organised space, and the segment remains well-placed for growth in the medium term.”
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