OWM plans to hive off Monte Carlo brand
Oswal Woollen Mills, a lead textile manufacturer
February 16, 2011 | comments ( 0 ) |
Oswal Woollen Mills, a lead textile manufacturer has planned to build a separate company for its 17 year old brand, Monte Carlo.
OWM, which is a part of Punjab-based Nahar Group, has sought approval from the Punjab and Haryana High Court for its demerger.
The firm is planning to open the company in the name of Monte Carlo Fashions Ltd which would help in better penetration of the brand pan India.
After the demerger, Monte Carlo will be left with garment manufacturing facility and its retail business with over 100 exclusive stores while OWM will be having spinning, yarn and denim business.
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