wear making our portfolio ‘universal’ and for every occasion. As of September 30, 2021, we sold bottom-wear in
over 50 styles in more than 120 colours. We design our products to cater to women across all age groups and girls
and fits that are suitable to various body types and physiques. These factors, coupled with the lack of seasonality,
ensure that our portfolio is resistant to redundancy from fashion trends.

We endeavour to provide our customers with premium quality products, and at a price range that caters across all
income segments and the price range of our products ranges from % 225 to 2 1,599 while the average selling price
of our products at exclusive brand outlets (“EBOs”) in Fiscal 2021 was 2 584.02 and was % 619.05 in the three
months ended June 30, 2021. In addition, the strength of our ‘Go Colors’ brand and round-the-year relevance of
our product portfolio allows us to typically retail our products at full price and with discounts offered only in
limited circumstances.

We serve our customers primarily through our extensive network of 459 EBOs (including 12 kiosks operated on
a “company owned and company operated” (“COCO”) model and 11 franchise stores) that are spread across 23
states and union territories in India, as of September 30, 2021. Our cluster-based approach to opening and
operating EBOs allows us to pursue the COCO model which results in better operational control and greater store
profitability. In our experience, retailing through EBOs creates better brand recall. Our EBOs are located in high
streets, malls, residential market areas in major metros, large cities and other tier II and tier III cities and at airports.
In addition, our distribution channels include large format stores (“LFSs”) including Reliance Retail Limited,
Central, Unlimited, Globus Stores Private Limited and Spencer's Retail among others. Our LFSs have grown from
925 LFSs, as of March 31, 2019 to 1,419 LFSs, as of March 31, 2020 and further increased to 1,267 LFSs, as of
March 31, 2021 while as of September 30, 2021 we operated in 1,270 such stores. In addition, we sell our products
through our own website and online marketplaces and through multi-brand outlets (“MBOs”).

The table below sets forth our revenue from operations from our distribution channels, for the periods indicated:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2019 Fiscal 2020 Fiscal 2021 Three Months Ended June
30, 2021
% of Total % of Total % of Total
% of Total
Amount | Revenue | Amount | Revenue | Amount | Revenue | Amount | 2. Z
million} from |(@million)| from |(% million)| from million) pies
Operations operations operations Ps
EBOs() 1,859.23 65.18% | 2,667.13 68.04% | 1,727.62 68.92% 242.50 78.24%
LFSs 763.86, 26.78% | 1,030.17 26.28% 551.58 22.00% 41.66, 13.44%
Online 35.97 1.26% 38.18 0.97% 119.40 4.76% 20.00 6.45%
MBOs
and - 6.78% 184.66 4.71% 108.08 4.31% 5.79 1.87%
193.42
Others?
Total 2,852.47 100.00% | 3,920.14 100.00% | 2,506.68 100.00% 309.96 100.00%
Notes:

(1) EBO includes kiosks and franchise stores
(2) MBOs and others includes sales through multi-brand outlets and garment fairs, exhibitions, events, etc. and scrap sales.

The tables below sets forth certain performance indicators of our EBOs for the periods indicated:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Particulars EBOs

As of / for the year ended March 31, As of / for the three
months ended June 30,
2020 2021
2019 2020 2021

New stores opened during the i = 5 4 z

Fiscal / period

Stores closed during the Fiscal / 15 8 a P 5

period

Stores 333 448 449 452 446

Cities 88 110 14 iil 115

Same Store Sales Growth® 19.97% 11.37% (36.75)% |__(88.98)% | _183.84%

Average Store Area (square feet) 306.29 348.89 379.64 349.66 382.50

Sales per Square Feet (2) 18,174.10 17,063.83 10,135.26 529.53 | __ 1,442.33

- Mature Stores! “Sales per 24,737.11 21,871.34 10,525.10 609.84 1,505.12

Square Feet
Revenue per Store (& million) 5.57 5.95 3.85 0.19 0.55

 

160

 
