Go Fashion (India) Ltd, which owns the popular women’s wear brand ‘Go Colors’, 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 FY25, 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 FY25,” 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
In an exchange filing on Wednesday, Go Fashion said its average investment in its outlet is around Rs 37 lakh-38 lakh, and the payback period is 15-18 months.
The company expects 80% of revenues from its exclusive brand outlets in the coming few years.
Go Fashion has announced its first quarter result of FY2025 today. The company reported a 9% increase in net profit to Rs 28.7 crore in Q1 FY 2025 from Rs 26.3 crore in Q1 FY 2024.
Go Fashion (India)’s revenue was up by 16% in Q1 of the current fiscal year at Rs 220 crore as against Rs 190 crore in the same period last year.
The sales from the online channel for Go Fashion was Rs 21.8 crore in FY 2024, the company said.