One of India’s leading clothing brands, Monte Carlo Fashions Ltd is now planning an aggressive approach to strengthen its grip in offline retail. The company will be investing a sum of 15 to 20 crore in order to open 20 exclusive brand stores in FY17.
The Ludhiana-based company sees a strong demand in the South Indian region and aims to increase its foothold here. Currently it has 10 stores spread across Bengaluru, Mangaluru, Mysuru, Kochi, Coimbatore, Hyderabad and Udhagamandalam.
Commenting on the same, company’s Executive Director, Sandeep Jain said that the company already has a strong play in the North and East markets as it started off with woolen knitted garments or winter wear for men and women in 1984.
We introduced summer wear much later in 2002 followed by a range of children’s apparel three years ago, he added.
At present, 90 per cent of the revenue comes from North and East markets, claims the company. The company will now focus on the South and West markets, with 4-5 new store launches in the Southern cities this fiscal.
Monte Carlo plans to enter the Chennai market with its first store in FY17, open a second store in Hyderabad and the rest in Southern cities that are in the process of being finalised.
Company’s wide array of clothing line is available across 230 exclusive brand stores, 1,500 multi-brand outlets and in large format retail stores such as, Central and Shoppers Stop and also has a robust online presence. The company sells its products on leading eCommerce portals including Flipkart, Amazon and Snapdeal.