Monte Carlo to launch fashion range ‘Rock it’, plans expansion across India
Monte Carlo Fashions Limited is planning to expand its brand portfolio and foray into the lucrative fitness, fashion segment in India with the launch of a new range called ‘Rock it’. It is also planning to expand its retail presence across the country.
Ludhiana based Monte Carlo Fashions is known for its winter wear collections however after poor Q1 results, the company has decided to introduce garments having an ideal combination of fitness and fashion, the company said in a BSE filing, read by Fashion Network.
Initially, the merchandise will be sold through the e-commerce platforms backed by extensive digital marketing plans it added.
The company will focus on a comprehensive range of cotton and cotton- blended products which cater to all seasons in order to expand our all-season product range and strengthen its pan-India operations.
Monte Carlo’s standalone revenue for the quarter came in at Rs. 66.5 crore, registering 12.2% yoy decline. EBITDA for the quarter fell by 14.3% yoy to Rs. 8.4 crore with a corresponding margin contraction of 32 bps. EBITDA margin for the quarter stood at 12.7%.
The PAT for the quarter came in at Rs. 5.2 crore, yoy increase of 60.8%. This was due to lower effective tax rate of ~24% vs ~27% in Q1FY17. Also, ~36% yoy jump in other income aided PAT growth.
In order to increase its revenue and profits the company will expand presence in western and southern markets as well as its product offerings in home furnishing, kids segments in order to reduce the overall seasonality impact.
Monte Carlo Fashions Limited was incorporated in 2008 and is based in Ludhiana, India. It operates a network of 21 own exclusive brand outlets (EBOs), 207 franchise EBOs, 164 national chain stores and approximately 2,200 multi brand outlets as well as through its montecarlo.in e-commerce website and other leading online sales platforms.
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