Monte Carlo strengthens retail presence, expects strong Q2 growth
Monte Carlo Fashions Limited strengthened its retail presence during the second quarter ended September 2021, by opening 12 new stores, and expects strong sales growth.
During the last year, the company’s sales were impacted due to the Covid-19 related lockdown restrictions including festive and wedding season sales.
However, this year the company is confident of posting strong a recovery during the July-September quarter and expects strong sales going forward on the back of its retail and digital expansion
“During the second quarter ended September 2021, the company expects strong volume growth and calibrated price increase. This is mainly because of the opening of economy on the back of reduction in Covid-19 cases and removal of lockdown restrictions in most of the geographies. With the opening of malls and marketplaces, we are seeing pent-up in demand across all formats of stores that is EBO's and MBO's,” Monte Carlo said in its quarterly update statement.
Monte Carlo has 300 exclusive-brand outlets, 2,500 multi-brand outlets, and 321 national chain stores. It also sells online through e-commerce firms like Flipkart, Amazon, Myntra, among others.
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