Go Colors, owned by Go Fashion (India) Ltd, launched its 500th Exclusive Brand Outlet (EBO) in the city of Pune located in SGS Mall, an official statement highlighted.
Go Fashion (India) Limited was founded in 2010 and is popular for creating, designing, sourcing, marketing, and selling an exclusive collection of women’s bottom-wear clothing branded ‘Go Colors.’
The company is a well-established D2C women’s bottom wear brand in India and holds a market share of 8% in the branded women’s bottom wear market as of FY20. The women’s bottom wear business is expected to grow from Rs 13,500 crore in FY20 to Rs 24,300 crore by FY25, representing a 35% increase. Given its enormous pan-India brand recognition, the brand would be tapping into this significant growth potential and further extending its market share.
From a long-term standpoint, Go Fashion India Ltd. would continue to invest in expanding its store foot-print across geographies by adding around 120-130 new stores year on year. Go Colors is also boosting omnichannel engagements for a seamless consumer experience, 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.
Among its distribution channels Go Colors are also present in Reliance Retail, Pantaloons, Central, Unlimited, Globus Stores, Spencer’s Retail and other regional MBO’s. And online presence through its own website and other marketplaces.
Gautam Saraogi, CEO, Go Fashion India, exclaims, “Achieving the milestone of having 500 stores is a 5-year-old dream come true for us. We are thrilled to have our milestone store in the vibrant and youthful city of Pune and want to increase our footprint by bringing our offering closer to where our customers are. I want to take this opportunity to thank our store staff, employees & business associates for standing united with us through these illustrious years. Together, we look forward to continuing our innovative and creative approach to launching more designs while providing more brand destinations for our consumers and achieving many such milestones in the years to come!”
Their target market is expected to grow to Rs 11,000 crore by the year 2025, and they would aim to expand their market share with their winning growth strategy. The D2C brand utilizes its first-mover advantage in the bottom-wear category with a sharp pricing strategy, with its products available across various colors and styles.