Go Fashion India Limited

About the company

Established in 2010, Go Fashion is a women’s bottom-wear brand in India that not only designs but also retails its products. In fact, the company claims that it is among the few apparel companies in India to have identified the market opportunity in women’s bottom-wear and have acted as a ‘category creator’ for bottom-wear.  Its products are sold under the brand, ‘Go Colors’. This apparel maker and retailer is now launching its public issue. Here’s all you need to know about this IPO **Financial Information** Here are the revenue and profit earned by Go Fashion (India) for the last three years: **Particulars**| **FY21**| **FY20**| **FY19** ---|---|---|--- The company’s performance in FY21 was impacted by the pandemic. **Strengths** * Amongst its competitors, Go Fashions has amongst the highest number of SKUs in the women's bottom-wear category at 728 units thus providing the widest choice to its customers.  * Its brand is present across retail formats viz. exclusive brand outlets, large store formats, multi-brand outlets and even online.  * It has had amongst the fastest roll-out of EBO compared to its competitors. Its store count rose from 70 outlets in 2015 to 450 outlets 2021 indicating aggressive rollout and wider outreach.  * The average selling price of Go Colors of about ₹ 600 per piece helps it cater across income segments and penetrate deeper in Tier 3 and 4 towns. * The company has implemented end-to-end automation for inventory operation. This has the company to avoid stock out and ensure sufficient supply at our stores. Further, the lack of seasonality in the company’s products helps it to tide over the risks of changing fashion trends.   * Demonstrated strong track record of financial performance. In the FY20, the company’s ROCE was the highest among all major retail led women’s apparel brands in India. **Risks** * The company relies on a single brand and product strategy.  * The continuing impact of the pandemic is one of the risks for the company. Go Fashion (India) had to shut down, both temporarily and permanently, many of its Go Color stores and kiosks at different locations.  * The inability to expand or manage its network. For instance, current locations of its exclusive brand outlets may become unattractive, and suitable new locations may not be available at a reasonable price.  * Its six trademarks are still pending for registration and a lack of protection could mean third-party infringement.  * Fashion trends change rapidly. A sudden deviation in consumer preferences could make the business redundant.  * Go Fashion does not own any manufacturing facilities and depends on suppliers and job workers to produce its products, a majority of whom are located in Tamil Nadu. Any disruption in their work could impact the output of the business.  * Rapid growth of online retail players could impact the company’s business which is largely EBO dependent and also its pricing advantage. **Opportunities** * While the overall women’s bottom-wear market is expected to grow at about 12%, organized market is expected to grow at a faster clip of 24% CAGR between 2020 and 2025. * The size of organized women bottom-wear market is expected to reach ₹9,200 crore by 2025. * Leveraging its own online platform and e-commerce channels can help the company grow its customer base further.

Financial performance (₹ Cr)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   17 Nov 2021

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   22 Nov 2021

   Last day to place your bid

3. Basis of Allotment

   Completed
   19 Nov 2021

   Share allotment finalised

4. Refund Initiation

   Completed
   26 Nov 2021

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   25 Nov 2021

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   30 Nov 2021

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.