- CEO
- Jawahar Lal Oswal
- Full Time Employees
- 2,360
- Sector
- Consumer non-durables
- Industry
- Apparel/Footwear
- Address
- B-XXIX-106, G.T. Road Ludhiana PB India 141003
- IPO Date
- Dec 19, 2014
- Business
- Monte Carlo Fashions Limited manufactures and retails premium and mid-premium woolen, cotton, cotton-blended, knitted and woven garments for men, women and kids under the Monte Carlo brand; its core products include sweaters, pullovers, thermals, woollen accessories such as caps, mufflers, shawls and stoles; cotton shirts, trousers, t-shirts, track-suits, jackets, sweatshirts, denims; home furnishings comprising mink blankets, bed sheets and quilts; kids wear under the Tweens range; womenswear under Alpha; menswear under Luxuria and Cloak & Decker; sportswear under Rock-It featuring tank tops, polo t-shirts, shorts and track pants. The company, founded in 1984 and headquartered in Ludhiana, Punjab, operates two manufacturing facilities in Ludhiana with in-house production for woolen and select cotton items including t-shirts and thermals; it distributes through over 300 exclusive brand outlets (company-owned and franchisee-operated), more than 2,000 multi-brand outlets, 700 national chain stores, 300 shop-in-shops and e-commerce platforms across 21 states and four union territories in India, with limited international presence in Dubai and Kathmandu. Recent developments include the incorporation of wholly-owned subsidiary Monte Carlo Home Textiles Limited, renamed MCFL Ventures Limited, to expand capacity in man-made fibre home textiles such as rugs and mink blankets with a five-year investment of 350 crore rupees targeting 600 crore rupees in revenue potential under the PLI scheme and China+1 opportunities, first phase operational by Q3 FY24; aggressive store expansion adding 35 net exclusive outlets in FY22 and targeting 50-55 openings in FY24 followed by 60 annually; cotton segment growth to 55% of FY22 revenue from 51% in FY21; online sales rising 67% YoY to 7% of revenue; and renovation of its flagship Ludhiana retail store in 2023.