Jan, 25 2016

Monte Carlo cut down store opening plan to 30

​Monte Carlo Fashions has now decided to open only 30 exclusive brand outlets (EBOs) by FY17. Earlier, the brand wanted to 50 outlets but has scaled back its plans owing to economic slowdown.

By Franchise India Bureau
Monte Carlo cut down store opening plan to 30

"At the time of IPO in December 2014, we had indicated that we will have 275 EBOs by FY'17. However, due to economic slowdown, we will expand at a slower pace than we had earlier planned. We plan to open 30 EBOs by fiscal 2017," Monte Carlo Fashions Executive Director Sandeep Jain was quoted as saying in a PTI report.

The company operates 226 outlets across the country and sells its products through 1,500 multi-brand outlets such as Shoppers Stop. It will open five stores in the ongoing fiscal and 25 outlets in the next financial year.

Amid the slowdown, he stated, the focus of expansion will be to increase presence in regions where it is not strong. "Over 90 per cent of our exclusive stores are concentrated in northern, central and eastern regions of the country. Now, we are looking at expanding our footprint in southern and western regions," Jain added.

Monte Carlo also has stores in Dubai, Nepal and Bangladesh. "We are looking at expanding our presence in these three overseas markets and also enter more geographies. We may look at opening stores in Bhutan and Pakistan. We are looking at tapping countries with higher Indian diaspora," he further told PTI.

Known mostly as winter-wear brand, Monte Carlo is also working hard to change its image to 'all-seasons apparel' brand. The company is exploring the possibility of entering into a licensing agreement to bring in foreign brands in India.

Related: Helios partners with Swiss watchmaker Raymond Weil

Click Here to add Comment
Please add your Comment
Rating
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Sell Business 2017
Sell Franchise 2017
Daily Newsletter

Submit your email address to receive the latest updates on news & host of opportunities.

Most
Entrepreneur The Franchising World Retailer 2017




Recommended For You
Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Franchise India Holdings Ltd

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.

X

Tell us what you think!