Mukesh Ambani and Isha Ambani led Reliance Retail are looking to expand their business in India. Now, the father-daughter duo led company is reportedly planning to launch a new value fashion brand called Yousta.
Isha Ambani is the chairman of Reliance Retail which owns a major chunk of the retail market in India with popular fashion brands including Versace, Balenciaga, Armani, Jimmy Choo, Gas, Hugo Boss and others.
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As per a report by India Retailing, Reliance Retail will soon be opening 200-250 physical stores of Yousta in India in the upcoming years. Reliance Retail’s fashion brand will give a cut throat competition to Tata backed fashion brand Zudio, the report said.
The first store of Yousta is likely to be launched in Hyderabad next month, reportedly. Reliance Retail is also looking for about 10,000 sq. ft. of mall space for its flagship store in Delhi.
In comparison, Zudio has so far opened around 350 stores in India and is further looking to expand its footprint.
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Around 100 stores of Reliance Retail’s clothing brand Reliance Trends, which is already established in more than 1,100 cities in India, is likely to get revamped with new brand identity.
Zudio’s parent company and retail arm of Tata Group Trent said it would open 200 stores of Zudio in FY24, much higher than estimates of analysts. In FY 23, it opened 117 stores taking the store count to 352 including store in stores, in its FY23 annual general meeting.
The company added 14 Westside stores in FY23, taking the total Westside store count to 214.