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Monte Carlo Fashions Limited

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Monte Carlo Fashions Limited (MCFL)
Company typePublic
BSE: 538836
NSE: MONTECARLO
IndustryClothing
Founded1984; 41 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, and shoes. [1] Monte Carlo Fashions Limited sells its apparel products under the brand name Monte Carlo[2][3][4] which was established in 1984[5][6] by Oswal Woollen Mills Limited[5] and is owned by the parent company Nahar Group[7] based in Ludhiana, Punjab. Jawahar Lal Oswal Jain is the chairman and managing director of the company.[8][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.[9] In 2009, the 100th store[10] 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 of 2024.

History

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1940–1990s

[edit]

1949

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

1984

  • Launch of the '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[11][12]

2004

  • Launch of 'Luxuria', a premium collection.[2][3][13]

2005

2008

  • Incorporation of Monte Carlo Fashions Ltd.[15]

2009

  • Launch of 'Alpha', a sub-brand designed only for women. [16][4]
  • In October, the opening of the 100th showroom.[17][4]

2011

  • Demerger from the parent company.[18]

2012

2013

  • Launch of 'Tweens', a sub-brand for kids.
  • Incorporation of Monte Carlo Fashions Ltd.[19]
  • 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.[20]

2015

  • MCFL was listed on the Indian stock exchange.[21]
  • The company clocked revenue of Rs. 500 crore.[22]

2017

  • Launched 'Rock It' fitness fashion brand.[23]

2018

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

2021

  • In September 2021, opened the 300th exclusive showroom. MCFL incorporates a new wholly owned subsidiary of the company, Monte Carlo Home Textiles Limited.[21]

2023

  • In March 2023, MCFL launched a summer collection through a Monte Carlo TV commercial.[24]

2024

  • In November 2024, MCFL launched a winter collection which is ultra-soft and anti-pilling.[25]

Design & Technology

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Manufacturing

[edit]
  • MCFL has two manufacturing facilities in Ludhiana, for woolen and cotton apparel products. The manufacturing facilities include facilities for product development, a design studio and sampling infrastructure.[29][30]
  • In 2014, MCFL commenced in-house manufacturing of some of its cotton t-shirts and thermals.[21]

Training

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  • The welfare of vendors and employees is a critical part of MCFL's point of difference, employees are provided specialized training to improve skills.[31]

Retail Presence

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

As of FY 2023, MCFL operated 356 Exclusive Brand Outlets, with 47 added in the previous fiscal year.[32][33] In FY 2024, MCFL has a presence in more than 2500 multi-brand retail outlets across India.[34]

Products Segments

[edit]

MCFL has an in-house design team of over 26 designers, creating more than 900 SKUs each month. Their product range includes jackets, jumpers, pullovers, jerseys, basic polos, crews, veers, polyfill jackets, a socks collection, multi-utility jackets for travelers, and convertible coats. Notably, they offer the 'Sweacket'—a fusion of the classic sweatshirt and jacket styles.[5]

  • Cotton – covers 56% of products ranging from Shirts, T-shirts, trousers, tracksuits, jackets, sweatshirts, shorts, track pants and denim.
  • Woolen covers 24% of products such as sweaters, pullovers, thermals, coats, blazers, cardigans and woolen 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 – the company manufactures accessories like socks, mufflers, caps etc. 3-year CAGR of 28.73%.

Brands

[edit]

MCFL has introduced different ranges for different segments in the apparel industry under the umbrella brand 'Monte Carlo'.[35]

Inside view of the flagship store of Monte Carlo in Ludhiana, India
  • Monte Carlo: A mid-premium and premium range of brands, known for quality & wide variety in 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 known for incorporating bright colors and modern design elements.[36]
  • Luxuria: A mid-premium/ premium range focusing on premium quality fabrics and high-end designs.[37] The range is inspired by the latest fashion trends across the world, the collection features exclusive limited-edition apparel. The collection The collection includes designs that align with current premium fashion trends in India.[38]
  • 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 with Andre Russell as the brand ambassador offers tanks, polos, T-shirts, shorts, and track pants.[6][21]

Brand Endorsements

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MCFL has been associated with various public figures, 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. [39] 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). [40] [41][42] [43]

References

[edit]
  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. ^ "Jawahar Lal Oswal". www.bloomberg.com.
  9. ^ "Monte Carlo plans expansion". The Tribune (Chandigarh). November 2, 2006. Retrieved February 5, 2015.
  10. ^ "OWM celebrates 100th store's opening". The Indian Express. October 22, 2009. Retrieved February 5, 2015.
  11. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  12. ^ "More than Sweaters: Rishabh Oswal". CEO Magazine. theceomagazine.com. September 20, 2021. Retrieved 23 October 2023.
  13. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  14. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  15. ^ "BSE INDIA". bseindia.in. BSE India. Retrieved 26 October 2023.
  16. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  17. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  18. ^ "Monte Carlo Fashions Ltd, Executive Director, Sandeep Jain In Talk With Zee Business". zeebiz.com. Zee Business. November 28, 2022.
  19. ^ "BSE INDIA". bseindia.in. BSE India. Retrieved 26 October 2023.
  20. ^ "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
  21. ^ a b c d "Monte Carlo Fashions IPO Note" (PDF). AngelOne.in.
  22. ^ "BSE INDIA". bseindia.in. BSE India. Retrieved 26 October 2023.
  23. ^ "Monte Carlo signs Andre Russell as brand ambassador for Rock It". in.fashionnetwork.com. Fashion Network. Retrieved 7 June 2019.
  24. ^ "Monte Carlo redefines the laws of attraction". brandequity.economictimes.indiatimes.com. Brand Equity. Retrieved 26 October 2023.
  25. ^ "Monte Carlo launches its new winter collection". dailyexcelsior.com. DailyExcelsior. Retrieved 26 October 2023.
  26. ^ "Monte Carlo Fashion shares zoom 14% after March quarter profit jumps 56%". EconomicTimes. economictimes.indiatimes.com. May 30, 2023.
  27. ^ "Monte Carlo posts Q1FY24 revenue growth of approx 20% on-year". FinancialExpress. financialexpress.com. July 14, 2023.
  28. ^ "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". EconomicTimes. cfo.economictimes.indiatimes.com. April 24, 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 experiences robust summer season bookings". CNBCTV18. cnbctv18.com. Aug 8, 2023.
  31. ^ "More than Sweaters: Rishabh Oswal". CEO Magazine. theceomagazine.com. September 20, 2021. Retrieved 23 October 2023.
  32. ^ "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". ETCFO.com. cfo.economictimes.indiatimes.com. April 24, 2023.
  33. ^ "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.
  34. ^ "Monte Carlo launches its new winter collection". dailyexcelsior.com. DailyExcelsior. Retrieved 26 October 2023.
  35. ^ "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.
  36. ^ "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.
  37. ^ "Monte Carlo Fashions incorporates wholly-owned subsidiary 'Monte Carlo Home Textiles'". DFU Publications. dfupublications.com. December 6, 2021. Retrieved 11 December 2023.
  38. ^ "Monte Carlo signs Andre Russell as brand ambassador for Rock It". Fashion Network. in.fashionnetwork.com. June 7, 2019. Retrieved 11 December 2023.
  39. ^ "Monte Carlo Home ropes in Raveena Tandon as brand ambassador". EconomicTimes. indiatimes.com. Retrieved 29 November 2023.
  40. ^ "Monte Carlo Home ropes in Raveena Tandon as brand ambassador". Adgully. adgully.com. Retrieved 29 November 2023.
  41. ^ "Monte Carlo Home ropes in Raveena Tandon as brand ambassador". Medianews4u. medianews4u.com. Retrieved 29 November 2023.
  42. ^ "Monte Carlo celebrates Barfi". Mumbaisplash. mumbaisplash.com. Retrieved 29 November 2023.
  43. ^ "Monte Carlo signs Andre Russell as brand ambassador for Rock It". FashionNetwork. fashionnetwork.com. Retrieved 29 November 2023.
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