17 July 2023, Mumbai
Monte Carlo Fashions, renowned for its diverse range of branded apparel encompassing knits and woven garments for men, women, and kid’s under the "Monte Carlo" label, has disclosed its business update for the quarter concluding on June 30, 2023.
Strong sales
The company experienced robust demand across all segments, resulting in an impressive 20% revenue growth during Q1 FY24.
The notable surge in quarterly sales was driven by the brand's strong consumer appeal, latest fashion offerings, and unwavering commitment to superior quality.
Aided by successful end-of-season sales and the flourishing festive and wedding seasons throughout India, the company solidified its position in the market.
Expands retail presence
Monte Carlo Fashions further expanded its retail footprint across India, launching 11 new Exclusive Brand Outlets (EBOs) in Q1 FY24.
These included 5 EBOs in the Northern Region, 2 in the Central Region, 2 in the Eastern Region, 1 in the Southern Region, and 1 in the Western Region.
The total count of EBOs has now reached approximately 366, spread across 21 states and 4 union territories. The company remains on track to meet its target of opening 50-55 EBOs this fiscal year.
Omnification
Additionally, Monte Carlo Fashions maintains a strong presence through multi-brand outlets, distributors, and various prominent online platforms.
With an unwavering focus on understanding consumer demand trends, manufacturing top-quality products, and leveraging a robust distribution network, Monte Carlo Fashions has cultivated its core competencies over three decades in the garment industry.
The company is confident in its ability to sustain profitable growth, which will benefit all stakeholders and foster long-term value creation.
