Go Colors Declares Strategic Franchise Agreement with Apparel Group

Chennai, 17th May 2024

Go Colors, a pioneering brand in the branded bottom wear segment for women in India is pleased to announce a new five-year franchise agreement with Apparel Group, a leader in global fashion and lifestyle retail. 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.

Go Colors has revolutionized the women's bottom wear market with its extensive collection that includes everything from ethnic wear such as churidars and patialas to western styles like trousers and jeggings. With over 700 exclusive brand stores in India and presence in more than 2000 large format stores, Go Colors brings a rich legacy of quality, variety, and accessibility to the GCC market.

The strategic expansion plan will see Apparel Group leverage its extensive retail expertise to introduce Go Colors' diverse range of products to a new audience, looking to fulfill the growing demand for versatile and fashionable bottom wear across the GCC.

Commenting on the same, Mr. Gautam Saraogi, ED & CEO, Go Fashion (India) Limited 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 are the perfect partners for initiating our global expansion efforts. Their involvement promises to bring significant value, enhancing our venture in numerous ways."

Neeraj Teckchandani, CEO of Apparel Group, expressed enthusiasm about the new venture, stating, "We are thrilled to partner with Go Colors, a brand that has been at the forefront of innovation in women's apparel. This collaboration aligns with our commitment to bring diverse and high-quality products to our customers. By introducing Go Colors to the GCC, we are not just expanding our portfolio but also enriching the fashion choices available to women in the region. We believe that the unique value proposition of Go Colors will be a significant addition to the local market."

This partnership is expected to enhance the retail landscape in the GCC, offering customers access to a vast range of high-quality women's bottom wear in over 120 colors and 50 styles, from traditional to contemporary. 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.

ABOUT APPAREL GROUP LLC

Apparel Group is a global fashion and lifestyle retail conglomerate residing at the crossroads of the modern economy - Dubai, United Arab Emirates. Today, Apparel Group caters to thousands of eager shoppers through its 2200+ retail stores and 85+ brands on all platforms while employing over 220,000+ multicultural staff.

Apparel Group has carved its strong presence in the GCC and expanded thriving gateways to market in India, South Africa, Singapore, Indonesia, Thailand, Malaysia, and Egypt. Additionally, clear strategies are in place to enter emerging markets such as Hungary and Philippines.

Apparel Group has created an omni-channel experience, operating brands originating from the USA, Canada, Europe, Australia, and Asia. The brands include leading names in fashion, footwear, and lifestyles such as Tommy Hilfiger, Charles & Keith, Skechers, Aldo, Nine West, Aeropostale, Jamie's Italian, Tim Hortons, Cold Stone Creamery, Inglot, and Rituals.

Apparel Group owes its amazing growth to the vision and guidance of its dynamic Founder and Chairwoman, Mrs. Sima Ganwani Ved, who has taken the company from strength to strength since its inception in the last two decades.

ABOUT GO COLORS

Go Colors [Go Fashion (India) Limited], a publicly listed company in India, is a leading brand specializing in women's bottom wear. Our extensive collection offers a diverse range of colors and styles to complement any top, all conveniently available under one roof. Go Colors has a network 700 plus exclusive brand stores across India and is also present in 2000 plus large format stores.

From churidars to leggings, harem pants to patialas, palazzos to culottes, pants to trousers, and jeggings, our bottom-wear products cater to various categories including ethnic wear, western wear, fusion wear, activewear, and denims.

Designed for women and girls of all ages and sizes, our portfolio is truly universal, suitable for every occasion and body type.

With over 50 legwear styles available in over 120 colors, spanning from ethnic to western to fusion wear, customers have endless options to create their desired outfits. Committed to offering premium quality products, we strive to maintain affordability without compromising on quality. Additionally, with 700 plus stores across India, our brand is easily accessible to customers nationwide.

Safe Harbor

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.