Monte Carlo to grow by 15-20% in FY22: Sandeep Jain, ED
20th September 2021, Mumbai:
Sandeep Jain, Executive Director, Monte Carlo Fashions says, his company is expected to grow by around 15-20 per cent in FY22 compared to last year and surpass pre-COVID sales level. The company will also sustain its pre-COVID profit-margins of 18-19 per cent this year. Last year, Monte Carlo had to close all showrooms and shops due to lockdown. This impacted sales in the current year too. However, as COVID cases started decreasing and vaccination sped up, the brand’s sales accelerated in July and August to reach pre-COVID levels. Its online sales also accelerated and are poised to reach 50 per cent of overall sales this year, adds Jain.
The brand expects kid’s wear segment to grow 25-30 per cent this year, while its home furnishing segment is also expected to grow well. Monte Carlo also expects a good growth in its woolen segment while demand for cotton products, like shirts, trousers, denim and tracksuit will continue to rise.
