India's leading fashion retailer Go Fashion India, despite the prevailing subdued consumer sentiment, remains confident of an upswing in consumer spend during the coming festive season.

Gautam Saraogi, Executive Director and CEO of Go Fashion India, in an exclusive interview with CNBC-TV18, shared the company's current strategies and insights into the ever-evolving fashion industry. Despite facing challenges due to weak consumer sentiment currently, the company remains optimistic about the upcoming festive season, he said.

“We are very bullish about the festive season. We are going through a downturn in terms of consumer sentiment right now. The entire consumer environment has been a little slow for the last six months but we are very optimistic about the future,” Saraogi said.

Traditionally, festive periods witness an upswing in consumer spending, and the company believes this trend will persist. Through carefully curated collections, exclusive deals, and marketing initiatives, Go Fashion India aims to leverage the festive fervor to boost sales and elevate its brand presence.

The fashion industry, like many others, has experienced fluctuations and challenges due to external factors. The recent economic uncertainties and the impact of the global pandemic have contributed to a dip in consumer confidence. Gautam Saraogi acknowledged these challenges but expressed confidence in Go Fashion India's resilience and ability to adapt to changing circumstances.

Go Fashion India's commitment to expansion and growth in the fashion market is unwavering, with an emphasis on targeting tier 1 cities. These urban centers have proven to be significant contributors to the company's success, and by prioritising them, Go Fashion India aims to solidify its position as a leading player in the industry. The move aligns with their goal of reaching a broader customer base while catering to the unique preferences and demands of metropolitan consumers.

Acknowledging the dynamic nature of the fashion industry, Saraogi emphasised that Go Fashion India has continuously adapted its product mix to keep up with changing consumer trends and preferences. By staying attuned to market demands and embracing innovation, the company has managed to strike a delicate balance between classic and contemporary styles, ensuring its offerings resonate with a diverse range of consumers.

“Our product mix has changed considerably since last year. We are coming out with many products in jeggings, palazzos and pants which has driven yields,” he said.

As part of their growth strategy, Go Fashion India has also been actively investing in digital transformation and adopting an omnichannel approach. The company recognises the increasing significance of e-commerce and online shopping, especially in the wake of the pandemic. By enhancing their online presence and integrating it seamlessly with their brick-and-mortar stores, Go Fashion India aims to provide customers with a holistic shopping experience.

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(Edited by : C H Unnikrishnan)