Inside Out: Go Fashion to add 120-130 stores every year
In this special show ‘Inside Out’, CNBC-TV18’s Sonal Bhutra speaks to Gautam Saraogi, CEO of Go Fashion, to discuss future plans of the company. Also in the ‘Swotlight’ segment, Nigel D'Souza talks about the valuation gap in between Sapphire Foods and Devyani International.
In this special show ‘Inside Out’, the focus is on Go Fashion which is going to complete a year soon on the bourses. It was listed in November 2021 with massive listing gains of 91 percent. Go Fashion has seen the first mover advantage in the women's bottom wear segments. It operated under the brand Go Colors and saw a shift from the unorganised to organised market here.
In terms of what they do via distribution as any retailer would do, they have exclusive brand outlets (EBO) and also large format stores with 533 EBOs and around 1,700 large format stores.
As much as 70 percent of their revenues coming from EBO's; 23 percent from large format stores and 2.50 percent from online stores. Their revenue for FY22 was Rs 400 crore, which doubled on a year-on-year basis because of a low base margins of 30 percent and profits of Rs 58 crore.
Speaking to CNBC-TV18, Gautam Saraogi, CEO of Go Fashion said, “We have a very small market share in a very large addressable market. We have an 8 percent market share in 4,000 crore addressable market which will become 11,000 crore by 2025. So, the opportunity for growth is very large for us. Today have about 533 stores so, we are going to keep adding 120 to 130 stores, we are going to have very strong same-store sales growth. So, the opportunity for growth in this segment is very, very large.”
In the ‘Swotlight’ segment, CNBC-TV18’s Nigel D'Souza speaks about the valuation gap between Sapphire Foods and Devyani International.
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