Reliance Retail, the retail arm of billionaire Mukesh Ambani-led Reliance Industries Ltd, on Thursday announced the launch of its youth-focused fashion retail format, Yousta, with the opening of its first store in Sarath City Mall in Hyderabad.
The company said, in a statement, that with contemporary technology-enabled store layouts, Yousta offers high-fashion at affordable prices targeted at young consumers. All products, for instance, are priced below Rs 999, with a majority of them priced below Rs 499.
Speaking on the launch, Akhilesh Prasad, President and CEO – Fashion and Lifestyle, Reliance Retail, said Yousta is a young and dynamic brand that underlines a way of life that 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. Every day will be ‘Day One’ in terms of freshness and relevance. Yousta will not only give a voice to the youth but also give them the freedom to express themselves, because for us, they are absolute stars,” he said.
Yousta’s outlets will boast several tech-touch points, including QR-enabled screens for information sharing, self-checkout counters and charging stations, the release said.
Yousta has partnered with a non-profit organisation for customers to donate old clothes at stores and allow them to be used for community programmes.
The brand’s range is now available at its first store in Hyderabad and can also be accessed online through Ajio and JioMart.
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL) by investing Rs 8,278 crore ($1 billion), said RIL on Wednesday.
A QIA’s wholly-owned subsidiary will make the investment in India’s largest retailer at a valuation of Rs 8,278 lakh crore ($100 billion).
