Demonetization has definitely impacted the overall industry & our brand as well: Sandeep Jain

In an exclusive conversation with Sandeep Jain, Executive Director, Monte Carlo highlights company's growth plans.
 Demonetization has definitely impacted the overall industry & our brand as well: Sandeep Jain

What is your take on current winter wear market in India? Also, present your views on overall apparel market in India? How do you see overall industry will grow in next five years?

 Winter wear market is growing 8-9 % per annum.

Kindly highlight the journey of the brand to Indian market? How have you seen market is evolved over the years?

Monte Carlo was formally launched in 1984 through MBO’s. The main products were woollen pullovers & jackets but in 1999 we launched men’s T-shirts & today we are proud to say that we have been ranked no. 1 in t-shirt & sweaters in the country. In 2003 we started our exclusive brand outlets & also reached to a level of 240 stores till date. Today we are an all season brand offering complete range in men, women & kid’s wear.

Kindly highlight your current foot-print including online, offline and factory outlets? How you are looking to extend the network? 

We are Present in Online, Offline, Large Format Stores and Factory Outlets.

How many categories the brand is operational right now? Which category is turning out to be best seller?

Our product range includes Woolens, Jackets, Sweatshirts, Tracksuits, Shawls, T.Shirts, Shirts, Trousers, Denims, Ladies Tops and Kidswear. We are no. 1 in woollen wear but other categories have also picked up in the past few years.

Do you also retail private labels? If no, any plans to have it in near future?

No. We do not Retail Private Labels and as of now we do not have any plans to do the same in future as well.

What is the contribution of sales from factory outlets. Averagely, what percent of merchandise is retailed via factory outlets?

2-3% in terms of value.

Who do you see as your competition in the same space?

There is no such direct competition in the particular sector for us, as the premium quality & prices offered by us cannot be matched up by any brand till date!

How’s your end of season sale going on? Have you seen any impact of demonstration?

Demonetization has definitely impacted the overall industry & our brand as well but despite of that our End of Season sale was very Good and we did not see any impact on the same.

At last, kindly present your views on upcoming GST.

We expect that the impact on the business would be better when GST would be levied, as the industry will become more organized & it will be easier for the customer to understand the tax structure.

Sandeep Jain