Market Conditions Comes In Way Of Monte Carlo Expansions

Market Conditions Comes In Way Of Monte Carlo Expansions

Monte Carlo Fashions has scaled down the opening of its exclusive brand outlets (EBOs) to 30 by FY17 as against the earlier plan of 50 as an economic slowdown continues to bite the market. Monte Carlo is primarily known as a leading retailer and manufacturer of woolen garments for men, women and children operates 226 outlets across the country and sells its products through 1,500 multi-brand outlets such as Shoppers Stop. It will open five stores in the current fiscal and 25 outlets in the next financial year, Monte Carlo Fashions’ Executive Director Sandeep Jain confirmed. Jain also added that the company will now focus on increasing presence in regions where it is not strong, particularly in the southern and western regions of the country.

Overseas, Monte Carlo is present in Dubai, Nepal and Bangladesh and is also looking to enter more markets. It is mulling to open stores in Bhutan and Pakistan as well as tapping countries with large Indian diaspora. Despite the slowdown, Jain was optimistic about Monte Carlo's growth outlook with the company maintaining a guidance of 10-15 percent in the current fiscal. Monte Carlo which is primarily known as a winter-wear brand, is also trying to change its image to 'all-seasons apparel' brand.