01 February 2023, Mumbai
Go Fashion’s revenue grew by 24 percent for the third quarter. Gross margin was steady at around 60 percent.
In terms of store expansion, the company added 35 new exclusive brand outlets in the quarter which takes the total count to 604.
The fashion retailer is focused on offering affordable products to its customers. More than 80 percent of its products are priced at less than Rs 1000. The company does not hike prices unless raw material prices fluctuate significantly. For Go Fashion growth is going to be driven by volume and value and value is going to be driven by new product introduction with a slightly higher selling price. The company has seen encouraging same-cluster sales growth, with a volume growth of eleven percent and the hope is for a volume growth of four per cent or five percent in same store sales, going forward.
Go Fashion also has plans to increase its online sales to five percent and take it up to eight per cent or nine percent in the next two or three years.Overall, Go Fashion is focused on providing affordable fashion products to its customers while maintaining strong financial performance.
