US-based Sequoia Capital to buy stake in Go Fashion

American venture capital firm Sequoia Capital is acquiring about 30 per cent stake in Chennai-based Go Fashion for Rs. 45-60 crore, suggest media reports. Go Fashion makes bottomwear such as ‘churidars’, leggings and jeggings for women and retails its products under the brand Go Colors. Industry experts opine that Go Fashion will be betting on women continuing to buy tops and bottomwear separately. “Women are now buying a top or kurti from ethnicwear makers, while the bottomwear is becoming a commodity that women buy in all colours and keep them in stock,” said Harminder Sahni of retail consulting firm Wazir Advisors.