Go Fashion India reports revenue growth of 60% Y-o-Y for FY22
The brand’s EBO, LFS, Online stores and MBO contributed 74.3%, 17.6%, 2.6% and 5.5% respectively towards the total sales for Q4FY22.
Chennai
Go Fashion, the women’s bottom-wear brand in India, announced its audited financial results for the quarter and year ended 31st March 2022. EBO, LFS, Online stores and MBO contributed 74.3%, 17.6%, 2.6% and 5.5% respectively towards the total sales for Q4FY22. They expanded their EBO by adding 27 stores in Q4FY22, increasing the total EBO store in FY22 to 54. With this addition, they now have 503 total EBO stores across India.
Commenting on the Result, Gautam Saraogi, CEO, Go Fashion (India) said, “Our Company has shown great resilience in FY22, and we have come out stronger than ever before. Even during the last quarter, despite facing Covid related lockdowns in January, our revenues grew by 29% Y-o-Y led by high volume growth. For the quarter gone by, our volumes have increased by 11%. We have strengthened our portfolio by continually adding new products across all bottom wear categories.
With increased cost efficiencies, EBITDA and Profit after Tax have increased by 53% & 73% respectively to Rs 38 crore and Rs 12 crore for the quarter. Our SSSG is 17% for the quarter and 31% for the second half of the year.”
During FY22, the Company has added 54 EBO stores and has crossed the 500th store milestone during the last quarter. Keeping in line with the growth strategy to open more doors closer to the consumer, the company is pushing ahead with expansion. Go Fashion continue to invest expanding their store foot-print across geographies by adding around 120-130 new stores every year. The company is also looking at omnichannel engagements for a seamless consumer experience, building on a technology-driven growth strategy to reach consumers across all cities.
They continue to invest in brand-building initiatives which will help them gain visibility and also to focus and grow online sales channels to benefit from evolving customer trends in our market. The brand is planning to make investments in digital channels for its customers and have a dedicated team for our e-commerce operations.
