Monte Carlo has expanded its denim collection by incorporating more quality material, precise stitching and the new cuts. The brand also introduced a wide range of slim fit denim with detailed laser printing in various shades. Additionally, it’s festive fusion range for the upcoming season, not only make great festive wear but is also ideal for everyday wear. “In future, we plan to expand our woollen collection besides introducing more options in formal, fusion and casual wear,” says Monica Oswal, Executive Director of the brand.
Infusing elegance into fashion
A premium fashion brand, the women’s casual wear collection by Monte Carlo is designed for women who are sporty and extroverts. “The theme of our latest collection is submerging elegance and class with fashion trends,” notes Oswal. The brand has replaced the traditional millennial pink color with lilac, while floral and micro prints, wide leg denims and jumpsuits, rugged jeans and polo a T-shirt are in fashion. The designs are distinctly Indian but carry the richness of fabric and fit ethnic and casual wear styles. Monte Carlo does not differentiate between markets in terms of availability of its designs as Oswal says, “We live in an interconnected world where news travels at lightning speed and information is available at the touch of a smartphone screen.”
With more and more women becoming a part of mainstream social life, their urgency to remain fashionable is also increasing. “This has triggered the market for women’s wear which is expected to reach around Rs 289,518 crore by 2025. Earlier, women’s casual wear was limited to T-shirt, skirts and jeans but today women want more than regular, hence the need for constant change,” notes Oswal. Consumers are gradually realising the importance of quality in terms of fabrics and stitching which affects the fit and comfort of a garment.
Oswal points out premium brands are also increasingly addressing the issue of affordability. “Monte Carlo has been at the forefront of this movement. The scale, aggregation and consolidation that we are able to bring, in relation to local brands, for a marginal amount of difference in price, are unparalleled,” she adds. The brand is able to provide a better deal because of its pan-India presence, personal R&D units and strong distribution and supply chains. “Our goal is to provide affordable but quality clothing in line with global trends and we have succeeded in doing just that,” adds Oswal.
The Asia-Pacific region is currently the third largest market for women’s wear in the world and is growing rapidly. This is due to the increasing number of women joining the workforce, rising incomes and increasing awareness about global fashion. Apart from marketing, brands are providing greater personalised experiences. As Oswal opines, “Fabrics are becoming richer and more comfortable because of their ability to stretch and accommodate various body types. The stitching is stronger and more versatile because of economies of scale.”
Key challenges ahead
Listing the challenges they face Oswal says., “Obsolete machinery and technology, threats to handloom sector, power shortage, illicit markets, labor related concerns, excise duty on man-made fibers, raw materials shortage and lack of quality infrastructure in non-metros are some of the key challenges being faced by the causalwear market today.” She goes on to explain, government schemes such as TUFS and greater collaboration between government and industry in textile and apparel zones can help the industry eliminate concerns.
Monte Carlo’s Q1 revenue from sales was Rs 80.93 crore. The brand has already established its presence the in North, Central and East India and enjoys great customer loyalty. “We are increasing our presence in metros such as Delhi. Online platforms have helped us increase market penetration in Tier II and III cities much more rapidly,” Oswal avers. The brand’s ecommerce platform was launched in 2012. It has helped it keep its facility costs low besides helping it to penetrate the Tier II and III markets.