With a blockbuster listing last year and a sturdy comeback in FY22, Go Colors has wrapped up the first leg of its decade-old journey. Can the women's bottomwear brand continue with its legwork?
Bengaluru, July 2014. The taxi was crammed. En route to a restaurant at an offsite, GV Ravishankar was preoccupied with ‘space’. Battling with constricted legroom, the seasoned venture capitalist (VC) at Sequoia India posed a swift question to his young team member. “Does it have enough legs to stand on?” he asked. “Well, they closed FY14 at Rs26 crore,” replied Tejeshwi Sharma, an analyst who met the founders of Go Colors, a women’s bottomwear brand started by the Saraogi family—Prakash Saraogi, Rahul Saraogi and Gautam Saraogi—in 2010. The Chennai-based company, Sharma continued to add muscle to his bony investment pitch, started with churidars and leggings, opened a tiny kiosk of ‘Go Colors’ at a mall in April 2011, and scaled it to over 80 kiosks by early 2014. “I think they have managed to find a strong product-market fit,” he added.