Monte Carlo bets big on booming women’s western wear market

Primarily known for its premium quality woollens, Tshirts, etc, Monte Carlo the lifestyle brand has made a mark with its women’s wear line. The brand’s name has always been synonymous with premium quality and wide variety. The latest technology and machinery helps the brand to produce products that meet international standards. Monte Carlo is now looking at establishing a larger footprint and enhancing its brand value. It has recently opened an exclusive store at a mall in Bilaspur, Chhatisgarh.

Indian women love western wear

Traditionally, an underserviced space, women’s western wear market is getting traction and wider acceptance owing to increasing disposable incomes and more women joining the workforce and dressing smart. Women shoppers from metros as well as small towns are gradually opting for western wear, which has pushed up sales of branded clothing. There is a rise in brand awareness. Working women in nuclear families are some of the reasons behind driving an aggressive growth in the segment. The other factors for this growth are higher disposable income, increasing working women population, rise of nuclear families, largest young population, increasing growth in urban and sub-urban population, changes in consumer needs, attitude and behaviour and increased credit friendliness.

The share of western wear in women’s wear in India is 25 per cent. The rest 70-75 per cent still belongs to ethnics. As per estimates women’s wear is forecasted to grow at a CAGR of around 11 per cent. Estimated 40-50 per cent growth per year in women’s western wear is expected, which is much faster than men’s wear. Despite being a relatively small segment in the apparel industry in India, women’s western wear is gaining ground among New Age women.

E-commerce has given a boost to the women’s wear segment. With increasing internet penetration and availability of affordable tablets and smartphones, online shopping is accessible and preferred by more people across all sections of society. Women contributed to 26 per cent of the e-commerce revenue in 2013 with more women, especially working women, turning to online shopping, due to its convenience and ease. However, a major challenge for manufacturers and retailers alike is the elusive ‘perfect Indian body size’, which is proving to be the undoing of many an apparel retailer.

Says Sandeep Jain, Executive Director, Monte Carlo “Now, brands understand what the female consumer needs and similarly the perception of women shoppers towards branded garments is also changing. Earlier, women used to look at the price and quantity while making purchases but now they are becoming more quality and brand conscious.”

Currently, Monte Carlo is available through more than 225 EBOs, over 1,500 MBOs in India and abroad and a wide presence in LFS. The company’s products are also available online on its website.