India-based listed apparel company Go Fashion has unveiled plans to expand its store footprint in the country.
The retailer plans to open around 120-130 stores year on year, the Economic Times reported.
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Its expansion plan also includes omnichannel engagement for smaller towns and cities.
Go Fashion aims to strengthen its omnichannel engagements to streamline its consumer experience and reach customers in Tier I to III cities through a technology-driven growth strategy.
The company recently opened its 500th exclusive brand outlet in Pune.
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Go Fashion CEO Gautam Saraogi was quoted by the Economic Times as saying: “Achieving the milestone of having 500 stores is a five-year-old dream come true for us.
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By GlobalData“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.”
Founded in 2010, Go Fashion offers a variety of bottom-wear products for women, including churidars, leggings, harem pants, palazzos, culottes, pants, trousers and ‘jeggings’.
These products are sold across multiple categories such as ethnic wear, western wear, fusion wear, activewear and denim.
Go Fashion also sells women’s bottom-wear clothing under the Go Colors banner.
According to an ICICI Securities report, India’s women’s bottom wear business is expected to increase by 35% from Rs135bn ($1.7bn) in the fiscal year 2020 (FY20) to Rs243bn ($3.2bn) by FY25.
Go Fashion holds an 8% market share in the country’s branded women’s bottom wear market.
Earlier this year, Indian fashion retailer Aditya Birla Fashion and Retail (ABFRL) agreed to acquire a majority stake in fashion lifestyle brand Masaba.
ABFRL will purchase a 51% stake in the brand by entering a binding term sheet with its owner, Masaba Gupta.
The financial terms of the transaction were not disclosed, but local media reported it to be worth around Rs900m.
