go fashion india: Go Fashion will open 120-130 stores year-on-year
The brand, which sells women’s bottoms under Go Colors, is bolstering omnichannel engagements for a seamless customer experience, leveraging a technology-driven growth strategy to reach consumers in Tier I to Tier III cities and is carrying out its expansion plans for current and emerging markets, it said in a statement after opening its 500th exclusive outlet in India.
“Reaching the milestone of 500 stores is a 5-year dream come true for us. We look forward to continuing our innovative and creative approach to launching more designs while offering more branded destinations to our consumers and hitting many milestones. of this type in the years to come,” said Gautam Saraogi, CEO of Go Fashion India after the store opened in Pune.
The company was founded in 2010 and has an 8% market share in the women’s branded stockings market.
The women’s bottoms business is expected to grow from Rs 13,500 crore in FY20 to Rs 24,300 crore by FY25, representing an increase of 35%. Go Colors would exploit this significant growth potential and further expand its market share. The D2C brand is using its first-mover advantage in the bottoms category with a sharp pricing strategy, with its products available in different colors and styles, he said.
According to a recent report by ICICI Securities, the overall women’s bottoms market is inclined towards the unorganized sector and in fiscal year 2020, its share was 77% with the organized share at 23%.
“With favorable winds towards the organization of the women’s underwear sector, the organized share is expected to reach Rs 92.4 billion, with a share of 38% in FY25E with a CAGR of 24.3% through 2025 The fragmented nature of the industry and the lack of organized players and limited brand competition positions Go Colors to benefit from the growth of the bottoms segment,” the report adds.