Monte Carlo Fashions opens 13 stores in Q3, records 12 percent revenue growth

By

Maverick Martins

Published
Jan 12, 2023

Monte Carlo Fashions Limited witnessed a 12 percent revenue growth during the October-December quarter on the back of pent-up demand and retail expansion.

During the quarter, the company strengthened its retail presence in India by opening 13 new exclusive brand outlets (EBOs), out of which 7 were opened in the northern region, 2 in the central region and 4 stores in eastern region.

With this, the company’s store count has reached 347 across 20 states and four union territories. The company plans to open 40-45 new stores every financial year.

“The quarterly sales have been the best for the company on the back of substantial brand equity among consumers, the latest fashion products and superior quality aided by solid end-of-season sales and encouraging festive season across India. The company maintains its yearly growth guidance of 20 to 25 percent,” the company said in a statement.

“The company is confident of its long-term sustainable and profitable growth, which will benefit all its stakeholders and lead to long-term value creation,” it added.

Apart from its EBOs, Monte Carlo sells through multi-brand outlets, national chain stores and online through its website and e-commerce firms like Ajio, Flipkart, Amazon, Myntra, among others.