05 April 2022, Mumbai:
Listed apparel firm, Go Fashion (India) aims to expand its retail presence by opening around 130 new stores year on year besides growing omnichannel retail for smaller towns and cities.
A seller of women's bottom-wear clothing under Go Colors, Go Fashions aims to offer a seamless customer experience by building on a technology-driven growth strategy to reach consumers in Tier-I to Tier-III cities and realizing its expansion plans for current and emerging markets
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The company aims to launch more designs while providing more brand destinations for consumers, says Gautam Saraogi, CEO. Founded in 2010, Go Fashion has an 8 percent share in the branded women's bottom wear market.
The women's bottom wear business is expected to grow 35 percent from Rs 13,500 crore in FY20 to Rs 24,300 crore by FY25.
Tapping into this significant growth potential, the D2C brand Go Colors aims to extend its market share.
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The brand adopts a sharp pricing strategy and offers products across various colors and styles.
According to a recent ICICI Securities report, the organized sector in the women’s bottom wear market is expected to grow at 24.3 percent CAGR to reach Rs 92.4 billion by 2025.
The fragmented nature of the industry and lack of organized players and limited branded competition will enable Go Colors to benefit from the growth in the bottom-wear segment, the report adds.
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CREDITS: ICICI Securities report.
