ICICI Ventures Invests in Legwear Brand Go Colors
ICICI Ventures has invested R1 billion in Go Fashion India Private Limited, the company that owns the women’s bottom-wear brand, Go Colors. This is ICICI Venture’s first retail apparel investment in the past decade. Chennai-based Go Colors was founded in 2011 by Mr Gautam Saraogi and Mr Prakash Saraogi to create a legwear brand for women, offering a wide range of high-quality products across categories like churidars, leggings, jeggings, denim and linen legwear products. Go Colors has a countrywide presence of more than 200 Exclusive Branded Outlets and a presence in over 500 large format stores. The bottom-wear market is estimated to grow at 20-25 per cent per annum. ICICI Ventures is partnering with Go Colors to capture the huge market potential by ramping up the store expansion and attempting to build a successful women’s legwear brand, said the investment company.