Monte Carlo Fashions reports 5 percent revenue growth in Q2
Monte Carlo Fashions, a leading branded apparel company recorded a revenue growth of 5 percent for the second quarter ended September 2022, as compared to Q2 of the previous fiscal year.
The company’s revenue for the first half of the financial year grew by 29 percent, as compared to the last financial year.
During the quarter, Monte Carlo strengthened its retail presence in India with the opening of 13 new exclusive brand outlets (EBO) across the country to take its total store count to 335.
“The sales have been good for the company on the back of strong brand equity among consumers, latest fashion products and superior quality aided by solid end-of-season sales and encouraging festive season across India,” Monte Carlo said in its quarterly update.
“The winter season has started early this year in some parts of India which will have a positive impact on the company’s growth & volume for the quarters coming ahead, for which the management of the company is confident. The company is confident of its long-term sustainable and profitable growth going ahead which will benefit all its stakeholders and will 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 Flipkart, Amazon, and Myntra, among others.
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