Monte Carlo looks at 10-15 per cent growth for FY16

Monte Carlo is looking at a 10-15 per cent growth in this financial year. It is also planning to add 30 more EBOS in the next fiscal, FY17. Last year, the brands turnover was Rs 581 crores. The company now plans to focus on expansion in areas where it is not strong. It believes that is the best way to beat the economic slowdown and stay profitable. As Sandeep Jain, Executive Director, Monte Carlo Fashions says, the company is looking at spreading out in the Western and Southern markets.

Casual yet fashionable

Monte Carlo is essentially known for its winter wear but in the shirts category it has been growing at 25 per cent. Their shirts range include: formal, semi-formal and casual but their focus is primarily on semi-formals and casuals. Both semi-formals and casuals have a good market. Casuals do better than formal shirts because they have become a part of office wear and people prefer them over formals. This year, the trend in casual shirts is more of prints and denim. Among prints, geometrical floral, tie and dye are very much in. In denim, from light wash clean look shirts to experimental washes with double flaps, roll up sleeve shirts and vintage wash shirts are in vogue. Semi-formals are preferred because of their comfort. Formals, however, are now reserved for special occasions and are more preferred by older people. The market may have shrunk for them but they continue to be a part of every man’s wardrobe. Of late, demand for 100 per cent linen shirts has also gone up.

Global brands a challenge

The retail market has been unorganised so far. But over the years and with so many players coming in, it is getting converted. Retailers are getting better organised to meet the aspirations and demands of customers, most of whom are aware of latest trends. The presence of global brands is also making local players more competitive. They have to be more vigilant, innovative and more efficient so that they don’t lose control of the market. As Jain says, “Fortunately, we have been able to tackle these challenges.”

Monte Carlo operates 226 outlets across the country and sells its products through 1,500 multi-brand outlets such as Shoppers Stop. It has stores in Dubai, Nepal and Bangladesh too. Now it’s planning to open stores in Bhutan and Pakistan with a view to expand its footprints in more countries. Also, the company now wants to change its image from a purely winter wear brand to an all-seasons apparel brand. Presently, 65 per cent of its total sales come from non winter items and only 35 per cent from winter wear.