Monte Carlo aims for 20% growth in next three years
Monte Carlo expects to achieve a compound annual growth rate of 20% in the coming three years thanks to retail expansion, as the apparel brand reaps the benefits of India’s increasingly "organised" apparel market.
Monte Carlo, which retails menswear, womenswear, and “tween wear”, has ambitious growth plans for the coming three years, the company's executive director, Sandeep Jain, told DFU Publications. The brand opened 14 new brick-and-mortar stores in the July to September quarter, and aims to continue its fast-pace retail expansion into the new year.
“Recent government policies on GST [goods and services tax] have not affected sales rather they have helped in creating a single MRP structure across the nation,” said Jain. As India’s apparel market becomes more organised, even in rural locations, the brand has benefitted from an increased awareness of brands in non-metro locations.
The brand has also expanded into the athleisure market. a fast growing segment.
“Attivo Sports range is based on theme sportswear and offers cut and sew garments with multi-colour blockings and clear graphics,” said Jain.
The brand, founded in 1984, reported a 21% year-on-year revenue increase in the July to September quarter. Sales totalled Rs 157 crore, compared to Rs 130 crore during the same time period a year ago. The brand also closed down six stores that were not making a profit during the quarter.
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