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Monte Carlo Fashions Limited

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Monte Carlo Fashions Limited (MCFL)
IndustryClothing
Founded1984; 40 years ago (1984)
FoundersShri. Jawahar Lal Oswal Jain
HeadquartersLudhiana, Punjab, India
Number of locations
1,500 stores
ProductsApparel, Athleisure, Home Textiles, Accessories etc
Websitemontecarlo.in
Monte Carlo Flagship Retail Store - Ludhiana, India (Retail counter)


Monte Carlo Fashions Limited, doing business as Monte Carlo, is an Indian retail clothing chain. It specialises in fast fashion, and sells clothing, accessories, shoes. [1] Monte Carlo Fashions limited is selling its apparel products under the brand name of Monte Carlo[2][3][4] which was established in 1984[5][6] by Oswal Woollen Mills Limited[5] and is owned by parent company Nahar Group[7] based in Ludhiana, Punjab. Jawahar Lal Oswal Jain is the chairman and managing director of the company.[citation needed]

As of 2004 the company had two manufacturing units in Jalandhar and over 1,450 employees.[5]

In the year 2006, they had 23 stores.[8] In 2009, the 100th store[9] was opened in New Delhi. As of March 2014, there were 191[5] 'Monte Carlo has 200 Exclusive Brand Outlets' in India and two are in Dubai & Kathmandu respectively and over 1,300[5] multi brand outlets across India.

History

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1940–1990s

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1949

  • Oswal Woolen Mills (OWM) Ltd., the flagship company of Nahar group founded the operations in Ludhiana.[5][6]

1984

  • Launch of 'Monte Carlo' brand with products in hosiery and woollens by Oswal Woolen Mills Ltd. [5][6] [2][3][4]

2000s

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2002

  • Monte Carlo became an all-season brand [10][11]

2004

  • Launch of 'Luxuria', a premium collection. [2][3][12]

2005

2008

  • Incorporation of Monte Carlo Fashions Ltd.[14]

2009

  • Launch of 'Alpha', a sub-brand designed only for women. [15][4]
  • In October, opening of 100th showroom. [16][4]

2011

  • Demerger from parent company. [17]

2012

2013

  • Launch of 'Tweens', sub-brand for kids.
  • Incorporation of Monte Carlo Fashions Ltd.[18]
  • Started menswear brand 'Platine'.[5][6]

2014

  • Opening of 200th exclusive showroom.[4]
  • Started in-house manufacturing for cotton-wear. [5][6]
  • Monte Carlo announced IPO.[19]

2015

  • MCFL got listed on Indian stock exchange.[20]
  • Company clocked revenue of Rs. 500 crore.[21]

2017

  • Launched 'Rock It' fitness fashion brand.[22]

2018

  • For the financial year 2018-19, MCFL reported profit of Rs 60 crore ($8.7 million) with revenue of Rs 656 crore.

2021

  • In September 2021, Opening of 300th exclusive showroom. MCFL incorporates a new wholly owned subsidiary of the company, Monte Carlo Home Textiles Limited.[20]


Design & Technology

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Manufacturing

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  • MCFL has two manufacturing facilities in Ludhiana, for woollen and cotton apparel products. The manufacturing facilities include facilities for product development, a design studio and sampling infrastructure.[26][27]
  • In 2014, MCFL commenced in-house manufacturing of some of its cotton t-shirts and thermals.[20]

Training

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  • Welfare of vendors and employees is a major part of MCFL's point of difference, employees are provided specialized trainings to improve skills.[28]

Retail Presence

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Monte Carlo flagship store and garment factory situated on Ludhiana highway, 100-meter-long facade can be seen in the picture

As of FY 23, MCFL has 356 Exclusive Brand Outlets (EBO) in India. In FY 22, the company had opened 47 new outlets.[29][30]

Products Segments

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MCFL have in-house design team of 26+ designers, that designs more than 900 SKUs each month ranging from Jackets, Jumpers, Pullovers, Jerseys, Basic Polos, Crews, Veers and polyfill Jackets, Socks collection, Multi-Utility Jacket for Travelers, Sweacket - a amalgamation of the conventional style of sweatshirts and jackets, and convertible coats[5]

  • Cotton – covers 56% of products ranging from Shirts, T-shirts, trousers, tracksuits, jackets, sweatshirts, shorts, track pants and denims
  • Woollen – covers 24% of products ranging from Sweaters, pullovers, thermals, coats, blazers, cardigans and woollen accessories.
  • Home Textile – covers 12% of products ranging from Mink blankets, bedsheets, and quilts.
  • Kids – covers 8% of all products ranging from sweaters, pullovers, thermals, coats, blazers, cardigans and woolen accessories.
  • Accessories – Company manufactures accessories like socks, mufflers, caps etc. 3-year CAGR of 28.73%

Brands

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MCFL has introduced different ranges for different segments in the apparel industry under the umbrella brand 'Monte Carlo'.[31]

Inside view of the flagship store of Monte Carlo in Ludhiana, India
  • Monte Carlo: A mid-premium and premium range of brand, known for quality & wide variety in area of its operations. The brand's winter wear is developed from pure wool such as Australian Merino Wool certified with the Woolmark, a stamp for quality approved by the International Wool Secretariat. The brand is popular for its bright colors, bold patterns, stylish finish and ultra-modern looks.[32]
  • Luxuria: A mid-premium/ premium range focusing on premium quality fabrics and high-end designs.[33] The range is inspired from the latest fashion trends across the world, the collection features exclusive limited-edition apparels. The collection targets preferences of elite and affluent customers in India. [34]
  • Denim: A mid-premium and premium, exclusive range for denim apparel offers Denim Trousers (Jeans) and Shirts.
  • Alpha: The range for women.
  • Tweens: The exclusive range for kids.
  • Cloak & Decker: Men's wear with sweaters and cardigans.
  • Platine: Premium range for men.
  • Rock It: A sportswear brand, Andre Russell is the brand ambassador offers tank, polo, T-shirt, shorts, track pants.[6][20]

Brand Endorsements

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MCFL has been a steppingstone for several leading models and TV personalities to develop their careers in the fashion and entertainment industries. Some renowned names include leading cricketers/ models turned actors/models Raveena Tandon, Andre Russell, Arjun Rampal, Aryan Vaid, Bipasha Basu, Meghna Reddy, Himanshu Malik, Mallika Sherawat, Shawar Ali and Nandana Sen. [35] MCFL has also played a leading role as the clothing partner in highly successful bollywood movies such as Barfi!, Student of the Year, Bhaag Milkha Bhaag and Mary Kom (film). [36] [37][38] [39]


References

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  1. ^ "Monte Carlo Fashions Ltd (BOM:538836)". Google Finance.
  2. ^ a b c d "Sale of woollens at peak". The Tribune (Chandigarh). December 2, 2005. Retrieved February 5, 2015.
  3. ^ a b c d "Ludhiana knits' cosy-tale" (PDF). Retrieved February 5, 2015.
  4. ^ a b c d e f "Successful Adjustment in Indian Industry: the Case of Ludhiana's Woolen Knitwear Cluster" (PDF). Dongbei University of Finance and Economics. Archived from the original (PDF) on February 8, 2015. Retrieved February 5, 2015.
  5. ^ a b c d e f g h i j k "Securities and Exchange Board of India" (PDF). Securities and Exchange Board of India. July 9, 2014. Retrieved January 5, 2015.
  6. ^ a b c d e f g "Superbrands Consumer 1st Edition 2004". Superbrands. Retrieved February 5, 2015.
  7. ^ "Oswal enters garments market". The Tribune (Chandigarh). March 27, 2001. Retrieved February 5, 2015.
  8. ^ "Monte Carlo plans expansion". The Tribune (Chandigarh). November 2, 2006. Retrieved February 5, 2015.
  9. ^ "OWM celebrates 100th store's opening". The Indian Express. October 22, 2009. Retrieved February 5, 2015.
  10. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  11. ^ "More than Sweaters: Rishabh Oswal". CEO Magazine. theceomagazine.com. September 20, 2021. Retrieved 23 October 2023.
  12. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  13. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  14. ^ "BSE INDIA". bseindia.in. BSE India. Retrieved 26 October 2023.
  15. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  16. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  17. ^ "Monte Carlo Fashions Ltd, Executive Director, Sandeep Jain In Talk With Zee Business". zeebiz.com. Zee Business. November 28, 2022.
  18. ^ "BSE INDIA". bseindia.in. BSE India. Retrieved 26 October 2023.
  19. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  20. ^ a b c d "Monte Carlo Fashions IPO Note" (PDF). AngelOne.in.
  21. ^ "BSE INDIA". bseindia.in. BSE India. Retrieved 26 October 2023.
  22. ^ "Monte Carlo signs Andre Russell as brand ambassador for Rock It". in.fashionnetwork.com. Fashion Network. Retrieved 7 June 2019.
  23. ^ "Monte Carlo Fashion shares zoom 14% after March quarter profit jumps 56%". EconomicTimes. economictimes.indiatimes.com. May 30, 2023.
  24. ^ "Monte Carlo posts Q1FY24 revenue growth of approx 20% on-year". FinancialExpress. financialexpress.com. July 14, 2023.
  25. ^ "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". EconomicTimes. cfo.economictimes.indiatimes.com. April 24, 2023.
  26. ^ "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". ETCFO.com. cfo.economictimes.indiatimes.com. April 24, 2023.
  27. ^ "Monte Carlo experiences robust summer season bookings". CNBCTV18. cnbctv18.com. Aug 8, 2023.
  28. ^ "More than Sweaters: Rishabh Oswal". CEO Magazine. theceomagazine.com. September 20, 2021. Retrieved 23 October 2023.
  29. ^ "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". ETCFO.com. cfo.economictimes.indiatimes.com. April 24, 2023.
  30. ^ "Monte Carlo Consolidated June 2023 Net Sales at Rs 138.77 crore, up 22.95% Y-o-Y". MoneyControl.com. moneycontrol.com. Aug 8, 2023.
  31. ^ "Both private companies who control a good portion of Monte Carlo Fashions Limited (NSE:MONTECARLO) along with institutions must be dismayed after last week's 11% decrease". Simply Wall St. simplywall.st/. November 14, 2023. Retrieved 14 November 2023.
  32. ^ "Monte Carlo Q4FY23 profit surges 55.3% at Rs 19.82 crore, revenue up 45.7%". Financial Express. financialexpress.com. March 29, 2023. Retrieved 14 November 2023.
  33. ^ "Monte Carlo Fashions incorporates wholly-owned subsidiary 'Monte Carlo Home Textiles'". DFU Publications. dfupublications.com. December 6, 2021. Retrieved 11 December 2023.
  34. ^ "Monte Carlo signs Andre Russell as brand ambassador for Rock It". Fashion Network. in.fashionnetwork.com. June 7, 2019. Retrieved 11 December 2023.
  35. ^ "Monte Carlo Home ropes in Raveena Tandon as brand ambassador". EconomicTimes. indiatimes.com. Retrieved 29 November 2023.
  36. ^ "Monte Carlo Home ropes in Raveena Tandon as brand ambassador". Adgully. adgully.com. Retrieved 29 November 2023.
  37. ^ "Monte Carlo Home ropes in Raveena Tandon as brand ambassador". Medianews4u. medianews4u.com. Retrieved 29 November 2023.
  38. ^ "Monte Carlo celebrates Barfi". Mumbaisplash. mumbaisplash.com. Retrieved 29 November 2023.
  39. ^ "Monte Carlo signs Andre Russell as brand ambassador for Rock It". FashionNetwork. fashionnetwork.com. Retrieved 29 November 2023.
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