Go Fashion, the parent company of woman wear brand Go Colors, and ICICI Venture have clinched a deal for sale of 13.8 percent stake in the fashion brand, according to this Economic Times report. "Go Colors has a strong presence in Southern and Western India, and wants to increase its reach in the Northern and Eastern India through rapid expansion in the next two years," a person familiar with the matter has been quoted as saying.
It has also been reported that every one and one-and-a-half years, the company wants to double its size for the next three to five years. In November 2014, private equity player Sequoia Capital had bought 33.33 percent for Rs 60 crore. It may be noted that the fresh round of series B funding by the ICICI Venture is another attempt to inject equity into the company.
"The current deal is at a four-time valuation after Sequoia invested in the company in 2014. Go Colors has 200 exclusive brand outlets and is sold in 550 large format stores such as Central, Reliance Trends, Shoppers Stop and Megamart and in 2,000 small non-branded outlets across India," the ET report said.
Go Colors has a significant reach with 200 brand outlets and its products are sold across 550 in large format stores that include Central, Reliance Trends, Shoppers Stop and Megamart, the report adds. The company that manufactures leggings, leg wears, jeggings etc sells its products through e-commerce companies apart form brick and mortar outlets.
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Updated Date: Jan 10, 2018 17:31:45 IST