Go Fashion (India) announced that it has entered into a new five-year franchise agreement with Apparel Group, a leader in global fashion and lifestyle retail. Apparel Group is a global fashion and lifestyle retail conglomerate residing at the crossroads of the modern economy in Dubai, United Arab Emirates. Today, Apparel Group caters to thousands of eager shoppers through its 2,200+ retail stores and 85+ brands on all platforms. The Group has carved a strong presence in the GCC and expanded thriving gateways to markets in India, South Africa, Singapore, Indonesia, Thailand, Malaysia, and Egypt.Additionally, clear strategies are in place to enter emerging markets such as Hungary and the Philippines.
This partnership marks a significant step towards expanding the Go Colors brand throughout the GCC countries, starting with launching 13 new stores across the United Arab Emirates and Saudi Arabia. The first phase of expansion will focus on establishing a strong presence in major cities across the UAE and Saudi Arabia, with further plans to extend throughout the GCC.
Gautam Saraogi, ED & CEO, Go Fashion (India), said: “We are thrilled about our partnership with the Apparel Group to launch stores in the GCC region, marking a pivotal move in our global expansion strategy. The Apparel Group, a prominent fashion powerhouse on a global scale, is the perfect partner for initiating our global expansion efforts. Their involvement promises to bring significant value, enhancing our venture in numerous ways.”
Go Fashion (India) is involved in the retailing of women’s bottom wear products under its brand, Go Colors. The products are sold in the domestic market through its extensive pan-India retail channel comprising 704 exclusive brand outlets (EBOs) and around 2,024 large format stores. The scrip rose 0.68% to currently trade at Rs 1020.70 on the BSE.
Source: Business Standard
Image: moneycontrol