Leading women’s legwear brand Go Colors, which believes that brick-and-mortar retail has an edge over online retail, plans to push offline presence by opening 100 new EBOs by December-end.
In an interview with Indiaretailing Bureau, Gautam Saraogi, Founder and CEO, Go Colors said, “We prefer offline as compared to online because there are many challenges in online plus when it comes to bottomwear, the customer wants to personally see the garment and match. So offline offers the experience for the customer to touch and feel the product.”
He further added, “However, we believe that going Omnichannel can prove to be a very strong strategy for us in the future. We have already started integrating online and offline. We have installed large tabs in our stores where the customers can browse what they have not found in the store and we try to covert them into our online customer.”
The brand has been investing in the brick-and-mortar model, while giving a huge boost to its Omnichannel retail model. Their mainstay is to ensure that customer convenience is prioritised, and that the customer should be able to get the product she needs at the store closest to her.
Currently, Go Colors has 200 exclusive brand outlets across high streets and leading malls in over 43 cities. It also has presence in more than 550 large format stores like Reliance Trends, Shoppers Stop and Central among others. The brand’s products are also available on major shopping portals in the country including Myntra-Jabong and Amazon.
The brand has no preferences as such when it comes to finalising the location as Saraogi revealed, “For us all the zones are pretty strong, so we are just trying to go in depth and maintain the balance between new cities and major metros.”
He further added, “The bottom category is huge. It is probably as big as the ladies topwear market and almost 85 percent of it is still unorganised, so there is a long road ahead.”
The brand has been at the forefront of giving customers a lot of choice and options in the legwear segment under one roof. It offers consumers the widest variety of products, empowering women to choose and spruce up their wardrobe and experiment with new styles including Knitted Pants, Pencil Pants, Jeggings, Palazzos, Super Stretch Denims, and Culottes among the regular leggings. And all of these styles are available in a dazzling array of 120 colors.
Funding
ICICI Venture has recently invested Rs 100 crore in Go Colors because ss per estimates, the bottomwear market is expected to grow at 20-25 per cent per annum.
Saraogi said, “Go Colors today is a prominent brand in the women’s legwear segment with increasing popularity amongst its target consumer base. With two respected partners – ICICI Venture and Sequoia India – we are poised to achieve our vision of becoming the brand of choice for women’s legwear in India. We are also aggressively implementing technology to enhance our customer experience and take the brand to its next level of growth.”
“We will be using the funds raised from ICICI Venture for business development, branding, working capital and many other things. But the future strategy of the business is to become a stronger offline brand,” he concluded.
