Business

Monte Carlo makes a mark with super premium ‘Platine’

by Sujata Sachdeva
19 Jan 2015
Ludhiana-based apparel manufacturer Monte Carlo Fashions that was listed on the stock exchange in December last year, is now looking at achieving 15 percent growth by March 2015. The company’s turnover for the fiscal 2013-14 was Rs 506 crores.

Complete wardrobe provider

Backed by the resources of Rs 5,000 crores Nahar Group, Monte Carlo offers summer and winter range in a variety of colours and fabrics, at competitive prices. With its extensive product basket and retail reach, Monte Carlo wants to push up sales of its women’s wear, while concentrating on the popular shirt category under ‘Noss’ brand. “Every season, under each segment we are introducing innovative products. We have launched a super premium brand ‘Platine’ which has jackets, sweaters and coats, this winter. This line has drawn tremendous response from the market,” says Sandeep Jain, Executive Director of Monte Carlo Fashions.

Monte Carlo, launched in 1984, has a complete wardrobe for the fashion conscious family. For winter wear its range include: cardigans, pullovers, jackets, shirts, trousers, sweat-shirts, denims, thermals and shawls. For summer, the range has shirts, T-shirts, trousers, denims, bermudas, shorts, capris and kurtis with an exclusive linen collection. Premium brand, Platine has a range of cardigans, pullovers, jackets, shirts, trousers and T-shirts.

Jain points out that Monte Carlo has retained its position in winter wear since its inception. Today, it is a top-ranked winter wear and T-shirt brand of India. “We are competing with all premium brands, national and global which help us improve every passing day. Our target audience is from the upper middle class working professionals spread across 20 to 50 years,” he informs.

Spreading its retail horizon

The Monte Carlo range is with 213 EBOs, over 1,000 MBOs and four large formats including Pantaloons, Reliance, Shoppers Stop and Planet Fashion. The total revenue driven by EBOs is 40 percent; by MBOs its 55 percent and large formats contribute five percent.

“We are available in 350 cities in India and have aggressive expansion plans over the next two years. Our focus is towards southern and western India. Tier I and II cities are key components of retail growth for any brand. Our sales in these cities are high and for our retail stores the EBITDA is very high. We see the potential of these markets is high, and in the forthcoming years, they will be the key to success of any brand,” avers Jain.

Monte Carlo already retails its collection through its own web platform as well as multi brand retail portals like Amazon, Snapdeal, Myntra and Jabong. The Rs 6,000 crores Nahar Group is an industrial conglomerate with a diversified portfolio that includes spinning, knitting, fabric processing, hosiery garments and knitwear, apart from infrastructure development and IT.