The company plans to expand EBO network across India
Chennai, NFAPost: Go Fashion (India) Limited, one of the leading women’s bottom-wear brand in India engaged in the development, design, sourcing, marketing and retailing a range of women’s bottom-wear products under the brand, total revenues for the 3rd quarter ending fiscal 2022 reached Rs 142 crore, registereing a growth of 47% compared with the same period last year.
The company net profit reached Rs 33 for the same quarter. Also, Go Fashion EBITDA stood at
Rs 52.1 crore, registering a growth of 72% compared with the same quarter last fiscal.
Commenting on the Result, Go Fashion (India) Limited CEO said Gautam Saraogi during the challenging times, the Company has recorded strong operational growth.
“For the quarter gone by, our Revenues have increased by 47% to Rs. 142 crores. EBITDA has increased by 72% to Rs. 52 crores. With increased efficiencies in the business, our EBITDA Margins have also increased by 540 basis points to 36.7% for the quarter,” said Go Fashion (India) Limited CEO said Gautam Saraog.
The company continues to expand and strengthen its bottom wear portfolio by launching new products across Ethnic, Western, Fusion, loungewear, work-from-home collection & athleisure. During FY22, the Company has added 27 EBO stores taking the total to 476 EBO stores and also introduced 11 new products to the portfolio.
As part of our growth strategy, we intend to expand our EBO network in other regions across India. We plan to add 120 – 130 EBO’s every year. We intend to follow the COCO model that will ensure better operational control over our stores.
The company intends to leverage the experience of its operations and business development teams to grow our network in existing and newer geographies. “Our expansion into newer markets offers us potential for market share gains, increased brand recognition, and economies of scale,” said Go Fashion (India) Limited CEO said Gautam Saraog.
He also said the company will also look at selectively expanding its presence across Large Format Stores (LFS).
“As our LFS partners grow their presence across India we will acquire new customers across different geographies. We have strategically undertaken brand-building initiatives to gain visibility with prudent use of resources while incurring limited branding and marketing expenses,” said Go Fashion (India) Limited CEO said Gautam Saraog.
He also said the company continues to focus and grow online sales channels to benefit from evolving customer trends in the market.
“We intend to make investments in digital channels to build an omni-channel engagement experience for our customers and have a dedicated team for our e-commerce operations,” said Go Fashion (India) Limited CEO said Gautam Saraog.
