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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 2,500[5] multi brand outlets across India as on 2024.

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]

2023

  • In March 2023, MCFL launched summer collection through Monte Carlo TV commercial.[23]

2024

  • In November 2024, MCFL launched winter collection which is ultra-soft and anti-pilling.[24]


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.[28][29]
  • 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.[30]

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

In FY 23, MCFL has 356 Exclusive Brand Outlets (EBO) in India. In FY 22, the company had opened 47 new outlets.[31][32] In FY 2024, MCFL has presence in more than 2500 multi-brand retail outlets across India.[33]

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'.[34]

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.[35]
  • Luxuria: A mid-premium/ premium range focusing on premium quality fabrics and high-end designs.[36] 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. [37]
  • 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. [38] 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). [39] [40][41] [42]


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 redefines the laws of attraction". brandequity.economictimes.indiatimes.com. Brand Equity. Retrieved 26 October 2023.
  24. ^ "Monte Carlo launches its new winter collection". dailyexcelsior.com. DailyExcelsior. Retrieved 26 October 2023.
  25. ^ "Monte Carlo Fashion shares zoom 14% after March quarter profit jumps 56%". EconomicTimes. economictimes.indiatimes.com. May 30, 2023.
  26. ^ "Monte Carlo posts Q1FY24 revenue growth of approx 20% on-year". FinancialExpress. financialexpress.com. July 14, 2023.
  27. ^ "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". EconomicTimes. cfo.economictimes.indiatimes.com. April 24, 2023.
  28. ^ "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". ETCFO.com. cfo.economictimes.indiatimes.com. April 24, 2023.
  29. ^ "Monte Carlo experiences robust summer season bookings". CNBCTV18. cnbctv18.com. Aug 8, 2023.
  30. ^ "More than Sweaters: Rishabh Oswal". CEO Magazine. theceomagazine.com. September 20, 2021. Retrieved 23 October 2023.
  31. ^ "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". ETCFO.com. cfo.economictimes.indiatimes.com. April 24, 2023.
  32. ^ "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.
  33. ^ "Monte Carlo launches its new winter collection". dailyexcelsior.com. DailyExcelsior. Retrieved 26 October 2023.
  34. ^ "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.
  35. ^ "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.
  36. ^ "Monte Carlo Fashions incorporates wholly-owned subsidiary 'Monte Carlo Home Textiles'". DFU Publications. dfupublications.com. December 6, 2021. Retrieved 11 December 2023.
  37. ^ "Monte Carlo signs Andre Russell as brand ambassador for Rock It". Fashion Network. in.fashionnetwork.com. June 7, 2019. Retrieved 11 December 2023.
  38. ^ "Monte Carlo Home ropes in Raveena Tandon as brand ambassador". EconomicTimes. indiatimes.com. Retrieved 29 November 2023.
  39. ^ "Monte Carlo Home ropes in Raveena Tandon as brand ambassador". Adgully. adgully.com. Retrieved 29 November 2023.
  40. ^ "Monte Carlo Home ropes in Raveena Tandon as brand ambassador". Medianews4u. medianews4u.com. Retrieved 29 November 2023.
  41. ^ "Monte Carlo celebrates Barfi". Mumbaisplash. mumbaisplash.com. Retrieved 29 November 2023.
  42. ^ "Monte Carlo signs Andre Russell as brand ambassador for Rock It". FashionNetwork. fashionnetwork.com. Retrieved 29 November 2023.
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