Go Colors unveils 500th store in Pune
Keeping in line with its growth strategy to open more doors closer to the consumer, Go Fashion India pushes ahead with expansion
Go Colors launched its 500th Exclusive Brand Outlet (EBO) in the city of Pune. The store is located in SGS Mall, Pune.
The brand is popular for creating, designing, sourcing, marketing, and selling an exclusive collection of women’s bottom-wear clothing branded Go Colors. It is one of the few Indian apparel brands that had realised a market potential in the women’s bottom wear segment and has positioned itself as the category creator for bottom wear.
It is a well-established D2C women’s bottom wear brand in India and holds a market share of 8 per cent 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 per cent increase. Given its enormous pan-India brand recognition, Go Colors would be tapping into this significant growth potential and further extending its market share.
From a long-term standpoint, GoFashion would continue to invest 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 realising 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. 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!”
Go Colors is popular for quality bottom-wear products such as churidars, leggings, dhotis, harem pants, patiala, palazzos, culottes, pants, trousers, and jeggings in a variety of categories, including ethnic clothing, western wear, fusion wear, athleisure, denim, and plus sizes. They have recently introduced their new product range of loungewear& athleisure catering to changing customer needs.
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 utilises its first-mover advantage in the bottom-wear category with a sharp pricing strategy, with its products available across various colors and styles.
