Monte Carlo to continue retail expansion, targets higher growth rate

Apparel brand Monte Carlo, which opened 14 new brick-and-mortar stores in the July to September quarter, aims to continue its fast pace retail expansion into the New Year. The brand expects to achieve a compound annual growth rate of 20 percent in the coming three years with continued retail expansion as the brand benefits from the increased organisation of the apparel market. Recent government policies on GST have helped the brand to create a single MRP structure across the nation.

As India’s apparel market becomes more organised, even in rural locations, the brand has benefitted from an increased awareness of brands in non-metro locations. It recently expanded into the athleisure market with new sportswear range Attivo which offers cut and sew garments, with multi-colour blockings and clear graphics.

Founded in 1984, Monte Carlo reported a 21 per cent year-on-year revenue increase in the July to September quarter. Sales totaled to Rs 157 crore compared to Rs 130 crore during the same time period a year ago. The brand also closed down six stores that were not making a profit during the quarter.