Branded apparel retailer for men, women and children, Monte Carlo Fashions is investing ₹15 to 20 crore to open 20 exclusive brand stores this fiscal. The BSE-listed Ludhiana headquartered company is looking to increase its footprint in the South where it has 10 stores spread across Bengaluru, Mangaluru, Mysuru, Kochi, Coimbatore, Hyderabad and Udhagamandalam.

Speaking to Business Line during a recent visit to the city, Sandeep Jain, Executive Director, Monte Carlo Fashions, said “We have traditionally had a strong play in the North and East markets as we started off with woollen knitted garments or winter wear for men and women in 1984. We introduced summer wear much later in 2002 followed by a range of children’s apparel three years ago. At present, 90 per cent of our revenue comes from North and East markets. We are now looking to focus on the South and West markets, with four to five new store launches in the Southern cities this fiscal.”

He said plans are on to enter the Chennai market with its first store this fiscal, open a second store in Hyderabad and the rest in Southern cities that are in the process of being finalised. Monte Carlo Fashions is available across 230 exclusive brand stores, 1,500 multi-brand outlets and in large format retail stores such as, Central and Shoppers Stop. Besides the company’s e-commerce website which went live two years ago, Monte Carlo Fashions also sells on Amazon, Flipkart, Jabong and Myntra.

In addition to woollen knitted garments that is the company’s forte, its range of offerings include tees, shirts, linen shirts, denims, trousers, dresses, shorts, tunics, jackets, sportswear, for men, women and tweens (7-12 years).

Incorporated in 1984 by Oswal Woollen Mills Ltd, the flagship company of the Nahar Group, Monte Carlo Fashions garnered revenues of ₹581 crore in FY 2015 and is expecting to meet its growth guidance of 10 per cent for FY16, the results for which are to yet to be announced.

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