With plans of launching over 1,000 stores of its value retail brand Yousta, Reliance Retails embarks on an ambitious growth drive. The brand intends to reach its expansion target over a span of two years.
The brand also has plans on expanding its current product portfolio beyond apparel and include segments of cosmetics and accessories.
Within a year, the firm intends to expand to a few hundred outlets across multiple geographies, according to Akhilesh Prasad, President & CEO of Fashion & Lifestyle at Reliance Retail.
“This company has a network that reaches into every market. Teams are searching the market in an effort to locate houses for us. We are rapidly opening new stores. Accordingly, if I give you a number, two stores might have opened elsewhere in the nation during that period. Yes, we will consider opening stores on a daily basis. We don’t discuss for more than two years,” he added, adding that it will be in the thousands rather than the hundreds.
As rivalry intensifies in the value retail sector, Prasad underlined the substantial possibility to target the 16–25 age range. He thinks the market has space for everyone. Even though there may be more competition, Yousta is ready for fierce battle and wants to dominate the value fashion market.
Reliance’s Yousta was launched back in August ’23 as a direct competitor to Trent’s Zudio. Yousta currently has 55 stores operating across 27 Indian cities. The current leading position in the market is of 559 stores as of 30th June 2024 of Zudio. This number is followed by 31 and 30 stores of Shoppers Stop’s Intune and Aditya Birla Fashion and Retail’s Style Up respectively.