Reliance Retail has launched its newest format to woo India’s burgeoning segment of millennials. The store format is named “Yousta”, a loose abbreviation for “Youth Stars”. The store is located at the Sarath City Mall in Hyderabad. The new format is said to compete with the likes of Landmark Group’s Max and TATA Trent’s Zudio which cater to affordable fashion with low price points.
At Yousta, all products are priced under Rs. 999. A majority of the products are priced under Rs. 499, according to a press release shared by the company. India’s millennials will form over 50% of the key consuming segment by 2030.
The store will be housing merchandise for men and women including character merchandise. A weekly refresh capsule is also part of the store, making the store for the millennials who follow street fashion trends from across the globe. These include colours of merchandise, styles of tops & bottom, style cuts, etc.
Yousta will drop brand new looks in its “Starring Now” collection every week, where the latest fashion is offered as a complete outfit with matching accessories.
Akhilesh Prasad, President & CEO, Fashion & Lifestyle, Reliance Retail said, “Yousta is a young and dynamic brand that underlines a way of life, which will grow and evolve with the youth of this country. 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. Yousta will not only give a voice to the youth, but also the freedom to express themselves, because of us, they are absolute stars”.
Yousta stores will be completely tech-enabled according to the company. It will have QR enabled screens for information sharing, self check-out counters, complimentary Wi-Fi and charging stations.
In a first of its kind, Reliance Retail has partnered with a Non-Profit organisation, which will collect and distribute used clothes offered by customers at the Yousta store.
The products sold at the stores are locally procured and manufactured, thus giving a fillip to the “Made In India” dream that every Indian is now working towards.
Reliance Retail reported annual revenues of INR 260,364 Cr (USD 31.7 Bn) for FY 2022-23. Its net profit for the corresponding period stood at INR 9,181 Cr (USD 1.1 Bn). The company operates 18,500+ stores across various categories including apparel and fashion, electronics, grocery, pharma and ecommerce.