Retailer of Skechers and Ray-Ban products seeks IPO proceeds to fund new stores, subsidiaries investment, debt repayment, and business expansion
Gaurik Fashions, which retails popular brands including Skechers and Ray-Ban, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India on 10 May, to raise capital through an initial public offering (IPO).
The issue will comprise a fresh issuance of up to 62,00,000 equity shares along with an offer for sale (OFS) of up to 8,00,000 equity shares, each with a face value of Rs 10.
Proceeds from the IPO are intended to support the company’s expansion plans, including the establishment of six new Skechers outlets. The funds will also be used for capital expenditure related to store setup, initial inventory procurement, investments in subsidiaries such as Gaurik Lifestyle and Nuvora Retail, repayment of borrowings, and general corporate requirements.
The company’s shares are proposed to be listed on the National Stock Exchange of India and the BSE. The book-running lead managers for the IPO are Credora Partners Private and Unistone Capital Private Limited, while MAS Services has been appointed as the registrar.
Incorporated in 2017, Gaurik Fashions initially focused on distributing sportswear and lifestyle brands before entering retail operations in 2019 with the launch of an exclusive Skechers brand outlet.
From 2023 onwards, the company expanded its portfolio through franchise-based retail operations for Bugatti and also entered into a non-exclusive distribution arrangement with Luxottica for premium eyewear brands, including Ray-Ban.
In 2025, its subsidiary secured exclusive distribution rights in India for Bugatti, TT. Bagatt, and Bagatt, collectively marketed under the Bugatti name.
Gaurik Fashions currently operates stores across major retail locations in India, including DLF Mall of India (Noida), Select Citywalk (Saket, New Delhi), DLF CyberHub (Gurugram), DLF Promenade (Vasant Kunj, New Delhi), Nexus Ahmedabad One (Ahmedabad), and Inorbit Mall (Cyberabad, Hyderabad), among others.
As of 31 March 2026, the company managed a network of 59 stores under a mix of franchise-owned and franchise-operated as well as company-owned and company-operated formats.
