Monte Carlo Fashion plans to add nine more stores in South India in FY16

Monte Carlo Fashions plans to take the total number of its stores in South India to 20 from the present 11 by the end of this financial year. It has also ventured into branded socks, a category they are confident will grow fast. The company launched socks because it realised that there is no established brand in India so far. The company believes that the socks category will follow the same script as their T-shirts which was launched in 2002 when there were no branded T-shirts. The material is sourced from Bangalore, Mumbai and Delhi.

Monte Carlo Fashions was launched in 1984 by Oswal Woolen Mills, the flagship company of Nahar group. In addition to woollen garments, the company makes T-shirts, linen shirts, sportswear and tunics. It launched tweens category three years ago and has seen 30 per cent growth. The brand makes western clothes keeping the Indian tastes in mind. Their USP is the price.

The company has 230 EBOS and more than 1,400 MBOs. The products are also available online at Myntra, Jabong, Amazon and Flipkart. Sandeep Jain, Executive Director, Monte Carlo Fashions, says that nearly 2.5 per cent of their sales come from online. The prices for both online and offline are same. Monte Carlo Fashions is present in Bangladesh and Nepal.

The apparel manufacturer and retailer’s turnover last financial year was Rs 581 crores and is looking at 10 per cent increase this financial year.