Monte Carlo, a brand synonymous with high quality, fashionable winter wear has transformed into an all-season wardrobe solution by adding T-shirts and trousers to its product portfolio. Moving ahead, the company has launched a kids’ range for fall this year. Sandeep Jain, Executive Director of Oswal Woolen Mills promoters of Monte Carlo explains, “We have launched complete kid’s wear range consisting of jackets, sweaters, T-shirts, sweatshirts, tracksuits and denim apart from introducing accessories such as ties, belts, socks and wallets as a part of our product expansion plans.”
And on the retail expansion front, the company would launch 30 EBOs in the fiscal ending 2013. The collection is currently available in 151 EBOs, over 1,000 MBOs and five LFS. “E-retailing has started with online shopping portal www.montecarloshop.in. We plan to aggressively pursue this channel in this fiscal,” adds Jain.
Commenting on the industry prospects, Jain says, “While the total knitwear industry is growing at 15 per cent year-on-year, knitwear consumption is growing by 25 per cent in all three tiers with maximum growth in Tier II and III cities. And the entry of global brands has affected the industry favorably as consumption is shifting from unorganized to organized retail.” The company has already achieved a target of Rs 400 crores in FY 2012-13 against the sale of Rs 280 crores last year and is hoping to do business worth Rs 1,000 crores in the next five years.
Although Monte Carlo is known for its sweaters over the last two decades, the brand has entrenched itself in the consumer mind by producing apparels that have constantly evolved along with changing lifestyles and trends. Monte Carlo’s range of knitwear boasts of as many as 500 designs for men, women and kids. The constant favorites are jackets, jumpers, pullovers, jerseys, basic polos and crews. The bright, solid contrasting colours and bold patterns make the Monte Carlo designs unique. Taped necks and shoulder seams, curl resistant collars that ensures the stylishness of the finish remains intact and at the same time maintains a chic look.
The parent company, Oswal Woolen Mills, the flagship company of the Rs 4,000 crores Nahar Group, began operations in 1949 as a small hosiery factory in Ludhiana. In 1972, sensing a huge business opportunity in the domestic market for readymade knitwear, it set up its wool combing unit and launched its signature brand, Monte Carlo in 1984. Today, Monte Carlo symbolizes OWM's transition from a small company with 800 spindles to a garment major with 35,000 spindles.