07 April 2022, Mumbai:
Go Colors, one of the most popular women's bottom wear companies, has opened its 500th Exclusive Brand Outlet (EBO) in Pune, which is owned by Go Fashion (India) Ltd.
Go Colors, Chennai, was founded in 2010 and claims to have an 8% market share in branded women's bottom wear as of FY20. The women's bottom wear business is predicted to rise by 35% in FY25, from Rs. 13,500 crore in FY20 to Rs. 24,300 crore in FY25.
Go Colors will be tapping into this substantial growth potential and significantly growing its market share, given its enormous pan-India brand awareness.
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Go Fashion India Ltd. stated in a statement that it will continue to invest in extending its retail network across regions by establishing roughly 120-130 new shops per year in the long run.
It's also improving omnichannel interactions for a more seamless consumer experience, implementing a technology-driven growth strategy to serve consumers in Tier 1 to Tier 3 cities, and executing its existing and emerging market expansion goals.
"Achieving the milestone of having 500 outlets is a 5-year-old dream come true for us," says Gautam Saraogi, CEO of Go Fashion India.
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We look forward to maintaining our unique and creative approach to releasing new designs and creating additional brand locations for our customers in the years ahead, as well as attaining many more similar milestones!"
Go Colors' target market is estimated to rise to Rs. 11,000 crore by 2025, and they want to use their winning growth approach to increase their market share.
With its goods available in a variety of colors and designs, the D2C brand makes use of its first-mover advantage in the bottom wear market with a cutting pricing approach.
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CREDITS: ANI News & Apparel Resources.
