Monte Carlo witnesses buoyancy in summer sales

“We are expecting a good spring summer season and by looking at the current trends, there is confidence of doing very good sales,” states an optimistic Sandeep Jain, Executive Director, Oswal Woolen Mills, adding, “We are witnessing a huge

 growth in our summer wear and find a shift towards higher priced but value added garments.” The brand, which has been known for its winter wear offerings has now transformed into a company offering complete wardrobe solutions. Currently Monte Carlo is present in 169 exclusive showrooms and plans to take this number up to 180 by the end of this financial year.

“The new stores will be mainly in the north and east with one or two in the south. Eighty percent of the stores are franchisees. We have 1,000 MBOs and adding 50 more. We are also in discussion with two-three retail chains. The collection is present in Shoppers Stop, Pantaloons and Planet Fashion too apart from our e-commerce platforms Monte Carlo shop.in, Monte Carlo collections.com and other online retailers,” explains Jain.

On the international front, they have a store in Nepal and plan to open one in Dhaka in the first quarter of next year. “We have just started operations in Nigeria. Next month, we are opening three showrooms in Dubai and planning stores in Muscat and Sharjah,” says Jain. Few months back, the company sold 18 percent of its equity to Samarra Capital and the brand is valued at Rs 1,000 crores market cap. Keeping investors’ confidence in mind, they are contemplating launching an IPO next financial year. “For 2012-13 we will do a turnover of Rs 500 crores and in the next three years we aim for Rs 750 crores,” asserts Jain.

Although Monte Carlo is known for its sweaters over the last two decades, the brand has entrenched itself in the consumer’s mind by producing apparels that has constantly evolved along with changing lifestyles and trends. Monte Carlo range of knitwear boasts of as many as 500 designs for men, women and kids. The constant favorites are jackets, jumpers, pullovers, jerseys, basic polos and crews.

Its parent company, Oswal Woolen Mills, the flagship of the Rs 4,000 crores Nahar Group, began operations in 1949 as a small hosiery factory in Ludhiana. In 1972, sensing a huge opportunity in the domestic market for readymade knitwear, it set up its wool combing unit and launched its signature brand, Monte Carlo in 1984. Today, Monte Carlo symbolises OWM's transition from a small company with 800 spindles to a garment major.

For spring/summer ’13 the brand gives out the message ‘Live Life’ with comfort and style. The collection has a range of ultra-comfortable cotton T-shirts, lightweight linen shirts, smart formals, relaxed denims, bermudas, three and two piece t-shirt sets, sportswear and the ‘alpha range’. The colour palette is pastel and muted tones of white, pink, yellow, blue with vibrant shades of red, green, black, purple and other deeper hues to complete the look. A wide range of patterns and designs have been combined with a fresh, modern colour palette to create a series of stylish, elegant and fashionable outfits comprised of high-tech performance fabrics.