Reliance Retail, the retail arm of billionaire Mukesh Ambani-led Reliance Industries Ltd, on Thursday introduced the launch of its youth-focused vogue retail format, Yousta, with the opening of its first retailer in Sarath Metropolis Mall in Hyderabad.
The corporate stated, in a press release, that with modern technology-enabled retailer layouts, Yousta presents high-fashion at inexpensive costs focused at younger customers. All merchandise, as an illustration, are priced beneath Rs 999, with a majority of them priced beneath Rs 499.
Talking on the launch, Akhilesh Prasad, President and CEO – Vogue and Way of life, Reliance Retail, stated Yousta is a younger and dynamic model that underlines a lifestyle that may develop and evolve with the youth of this nation.
”The group will constantly work with India’s youthful technology to grasp their evolving vogue wants. Day by day will likely be ‘Day One’ when it comes to freshness and relevance. Yousta won’t solely give a voice to the youth but additionally give them the liberty to precise themselves, as a result of for us, they’re absolute stars,” he stated.
Yousta’s retailers will boast a number of tech-touch factors, together with QR-enabled screens for data sharing, self-checkout counters and charging stations, the discharge stated.
Yousta has partnered with a non-profit organisation for purchasers to donate outdated garments at shops and permit them for use for neighborhood programmes.
The model’s vary is now obtainable at its first retailer in Hyderabad and may also be accessed on-line by means of Ajio and JioMart.
Qatar Funding Authority (QIA) will purchase round 1 per cent stake in Reliance Retail Ventures Ltd (RRVL) by investing Rs 8,278 crore ($1 billion), stated RIL on Wednesday.
A QIA’s wholly-owned subsidiary will make the funding in India’s largest retailer at a valuation of Rs 8,278 lakh crore ($100 billion).
