In the quarter ending June 2024, Go Fashion (India) accounted for a 9.02 per cent rise in net profit to Rs. 28.65 crore, an increase from Rs. 26.28 crore in the same quarter of the last year. Sales also saw an increase of 15.78 per cent to Rs. 220.09 crore in comparison to Rs. 190.10 crore in the same quarter of June 2023.
The company has drawn a plan to expand by 120-130 Exclusive Brand Outlets (EBOs) every year. The fashion retailer is focusing on adding new outlets in Tier 2 and 3 cities in the north and east regions. At present, the e-retailer has 734 EBO stores, across 164 cities. The fashion brand opened 20 EBOs on a net basis in Q1 FY 2025 alone.
“In Q1 FY ’25, we successfully added 20 net new stores to our portfolio, increasing our total store count to 734. We are optimistic about our continued store expansion efforts and aim to open between 120 and 150 new stores during FY ’25,” Gautam Saraogi, CEO, of Go Fashion (India) said. Go Fashion (India) said the tie-up with UAE-based Apparel Group is on track and is likely to open its first international store in the Middle East by the end of 2024.
Go Fashion India Pvt. Ltd. (currently named Go Colors) is a premium athleisure and fusion wear brand for women. The brand also offers a range of other bottom wear for women like ethnic clothing for festive occasions, printed pencil pants and casual leggings. Established in September, 2010, Go Colors is also planning to open 120-150 stores as a part of its expansion strategy.
