Established in 1984, Monte Carlo had felt the need for a premium quality winter wear brand as at that time, there were only small labels catering to the consumers. The brand was launched with an idea of offering international quality products, at affordable prices. The product line comprises of sweaters, sweatshirts, tracksuits, coats, vest coats, shirts, trousers, denim, dresses, shrugs and more.
Who is your target consumer? What are the price points your brand ranges in?
As our brand is all about comfortable everyday clothing and value for money,
our target group comprises of upward mobile, upper middle class and young executives. We are a diverse brand and are spread over different apparel categories, so we cannot comment on a particular price point.
There exist many players in this segment, what’s your strategy to beat the existing competition?
Our strategy to beat the existing competition is to offer premium quality products and value for money.
Which format, according to you, works well for your brand– EBOs versus shop-in-shop? Why?
Both formats have their own set of advantages. It basically depends on the area in terms of the market. While there is an area constraint in shop in shop format, EBOs are able to offer the right ambience that the brand wants the customers to experience.
Keeping in mind the growing customer preferences, what’s your onmi-channel strategy? Do you sell through own ecommerce or through marketplaces and which ones?
We sell through both the channels at all verticals.
What’s the average store size and investment required to open a store?
Investment varies from store to store and the average store size is 800sq ft – 1200sq ft.
What’s the technology that is being used to make store operations efficient and who are your tech partners for the same?
We use different technology systems to make store operations. CRM involves outside agency and independent store audit co.
How do you manage your supply chain and logistics effectively?
Our system has evolved with time and is in its own way sufficing our requirements.
What’s your expansion plan? Will the investment be done through internal accruals or external funding?
We intend to open 20-25 stores every year across the country. Investments are done through partly internal accruals and otherwise franchise model.