 to add 120 EBOs each year_large.jpg)
24 July 2024, Mumbai
Owner of the popular women’s wear brand ‘Go Colors’, Go Fashion (India) plans to expand by adding 120-130 EBOs each year. These EBOs will be set up in Tier II and III cities in the northern and eastern regions of India. Currently, the company operates 734 EBOs across 164 cities.
In Q1, FY 2025 alone, Go Fashion opened 20 new EBOs increasing its total store count to 734. The company aims to open around 120 new stores during the entire FY25, as per GautamSaraogi, CEO, Go Fashion (India).
It also plans to open its first international store in the Middle East by 2024-end. The store will be opened in partnership with the UAE-based Apparel Group.
Go Fashion will open each of these outlets with an investment of around 37 lakh. They will generate around 80 per cent of the company’s revenues in the coming years.
In Q1, FY24, Go Fashion’s net profit rose by 9 per cent to Rs 28.7 crore from Rs 26.3 crore in Q1 FY 2024.
The company’s revenue increased by 16 per cent during the quarter, reaching Rs 220 crore as against Rs 190 crore in the same period last year. The company’s sales from the online channel totaled Rs 21.8 crore.
