03 August 2023, Mumbai
Go Fashion India Ltd recorded a positive first-quarter performance, ending on June 30, 2023, with a net profit of Rs 26 crore, an 8 percent increase from the previous year. Quarter revenue also surged by 15 percent, reaching Rs 194 crore.
Resilence
Despite a sluggish retail industry in India, the company displayed resilience and growth, outperforming the market. CEO Gautam Saraogi attributed this success to their adaptability and pursuit of new opportunities.
Customer engagement
To enhance the customer experience, Go Fashion is focusing on omnichannel engagements, using technology to create seamless shopping journeys bridging physical and online platforms.
Expands retail footprint
During the quarter, the company expanded its network with 25 new exclusive stores, reaching a total of 655 stores nationwide. Analysts believe Go Fashion is well-positioned to capitalize on India's online fashion retail market growth, supported by positive sentiments from Icra Ratings.
