Monte Carlo launches athleisure brand Rock It, bank on ‘exclusivity’ for growth
Ludhiana based fashion firm Monte Carlo Fashions Limited has launched its athleisure brand Rock It for the Indian market and is banking on exclusivity for growth in this segment.
In August FashionNetwork.com had reported that Monte Carlo is planning to expand its brand portfolio by foraying into the lucrative fitness, fashion segment in India with the launch of a new range called ‘Rock it’.
With athleisure wear market currently estimated at $3.5 billion and expected to grow at a rate of 20 to 25 percent annually according to industry estimated, top firms are shifting their focus to this segment to cash in on this growth by scaling up its offerings in this sector.
Monte Carlo had reported poor results in the first quarter of the financial year with sales revenue plummeting 12 percent to Rs 66.5 crore (approx $10.3 million) forcing the company to turn to the fitness segment for revival.
“We understand the need of adding a fashion element while you are in a gym, a park or in a playground. To make our consumers stand out in the crowd, we have taken a conscious decision to make just 300 number of pieces of every style to keep the exclusivity of ‘what our customer wears’ alive. We commit to keep your wardrobe exclusive in these 300,” Rishabh Oswal, President, Monte Carlo was quoted as saying by the Times of India.
The company is also looking at expanding their footprint across the country especially in the Southern and Western markets.
The Rock.It brand portfolio will include over jackets, sweat pants, knitted lowers, woven lowers, knitted shorts, sandows, polo T-shirts, crew neck T-shirts and V neck T-shirts. For now, Rock It range will be sold exclusively on its online store and will later be available across all leading e-commerce platforms and offline stores.
Monte Carlo incorporated in 2008 operates a network of 21 own exclusive brand outlets (EBOs), 207 franchise EBOs, 164 national chain stores and approximately 2,200 multi brand outlets
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