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GO FASHION (INDIA) LTD

IPO Details

ICICI Direct Research Rating : UNRATED
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21 shares
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₹ 655 - 690
₹ Upto 1013 cr
RHP

Timeline

  • 25-Nov-2021
  • 26-Nov-2021
  • 29-Nov-2021
  • 30-Nov-2021

Subscription Status

Shareholder -
Qualified Institutional Buyers -
Non-Institutional Investor -
Retail Individual Investor -
Employee -
Total -

About Company

Go Fashion (India) Ltd is a women’s bottom-wear brand in India, with a market share of approximately 8% in the branded women’s bottom-wear market in Fiscal 2020. The company is engaged in the development, design, sourcing, marketing and retailing of a range of women’s bottom-wear products under the brand, ‘Go Colors’.

They have acted as a ‘category creator’ for bottom-wear and were the first company to launch a brand exclusively dedicated to women’s bottom-wear category. (Source: Technopak Report).

Strengths & Risks

Strengths (3)

Women’s bottom-wear brand in India with well-diversified product portfolio

Market share of approximately 8% in the branded women’s bottom-wear market in Fiscal 2020. The women’s apparel market is estimated to be approximately 36% of the total apparel market (Source: Technopak Report and RHP).

Risks (2)

All products are sold under a single brand, ‘Go Colors’. An inability to effectively market products or the brand may affect business

Negative reviews from customers regarding the quality of products, dissatisfaction amongst suppliers, inability to deliver quality products at competitive prices and accidents, injuries or adverse incidents at stores could all hamper results.

  • Women’s bottom-wear brand in India with well-diversified product portfolio

    Market share of approximately 8% in the branded women’s bottom-wear market in Fiscal 2020. The women’s apparel market is estimated to be approximately 36% of the total apparel market (Source: Technopak Report and RHP).

  • Multi-channel pan-India distribution network with a focus on EBOs (Exclusive Brand Outlets)

    Retail products directly to consumers primarily through a network of EBOs and as of September '21,  operated 459 EBOs across 118 cities in 23 states and union territories across India.

    Multi-channel pan-India distribution network with a focus on EBOs (Exclusive Brand Outlets)
    Retail products directly to consumers primarily through a network of EBOs and as of September '21,  operated 459 EBOs across 118 cities in 23 states and union territories across India

  • Extensive procurement base with highly efficient and technology-driven supply chain management

    As of September'21, the company has a network comprising over 120 suppliers and job-workers across India many of whom they have a longstanding relationship with.

  • All products are sold under a single brand, ‘Go Colors’. An inability to effectively market products or the brand may affect business

    Negative reviews from customers regarding the quality of products, dissatisfaction amongst suppliers, inability to deliver quality products at competitive prices and accidents, injuries or adverse incidents at stores could all hamper results.

  • Carry out operations from a single warehouse located in Southern India

    Any disruption in the operation of the warehouse, including due to adverse developments in the region, may have an adverse effect on the business and prospect.

Industry Overview

India Apparel Market Size

Apparel market size in Fiscal 2020 was ₹ 447,666 crores (US$ 59.69 billion) and expected to grow at a CAGR of approximately 8.95% between Fiscal 2020 and Fiscal 2025 to reach ₹ 687,263 crores (US$ 91.64 billion) by Fiscal 2025 on the back of factors like higher brand consciousness, increasing digitization, greater purchasing power and increasing urbanization (Source: Company RHP).

Channel wise Segmentation of Women’s Apparel Market

Women’s apparel market in India was ₹ 163,291 crores (US$ 21.8 billion) in Fiscal 2020. Women’s’ Ethnic wear accounted for approximately 71% or ₹ 115,139 crores (US$ 15.3 billion) (Fiscal 2020) and the balance 29% of the market was made up of western wear accounting for ₹ 48,152 crores (US$ 6.4 billion) (Source: Company RHP).

Go Fashion (India) Ltd

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21 shares

Subscription Status

Shareholder -
Qualified Institutional Buyers -
Non-Institutional Investor -
Retail Individual Investor -
Employee -
Total -

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*The financials mentioned above are sourced from DRHP/ RHP documents.

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