Brand Name- MONTE CARLO

Introduction to Fashion Business

Business Research

PROJECT REPORT

SCHOOL OF FASHION - BUSINESS

PEARL ACADEMY

IN PART FULFILLMENT OF THE POST GRADUATE DIPLOMA IN FASHION

BUSINESS

(MARKETING & MERCHANDISING)

SUBMITTED BY:

SHALINI THAKUR

SAKSHI TATED

PALLAVI NAIR

SMRITI BIHANI

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 LETTER OF ACKNOWLEDGEMENT

This is to certify that studying (Post graduation in Fashion Business Management and
Merchandising) program at Pearl Academy in Mumbai have carried our study. Thanking the Institute
for providing the platform to conduct the study and faculty for their guidance and support. Also
stating that the work in an orignal is document and any referance taken from other sources has been
duly acknowledged.

Faculty Name and Signature:-

Students Name and Signature:-

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 CERTIFICATION

This is to certify that the project report has been conducted under the guidance of Mrs.
Falguni Shah ( Course Head: PG-FBMM, Level 1) towards the partial fulfilment of the
requirement for the Postgraduate Course in Fashion Business Management and
Merchandising at Pearl Academy, Mumbai.

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 INDEX
Serial Number Topics Page Number
1 Introduction- Values 6
2 Brand Rationale 7
3 History & Evolution 8
4 Milestones 9
5 Mission, Vision 10
6 Brand Strategies 10
7 Unique Selling Point 11
8 Organizational Structure 12
9 Retail Format 13-14
10 Product Overview 15
11 Product Line 16-17

12 Sourcing & Distribution Network 18

13 Product Segmentation 19
14 Net Sales 20
15 Brand Lifecycle 21
16 Styling Details 23-25
17 Specifications and Wash Care Label 24-32
19 Fabric Details 33-34
20 STP 35-36
19 Buying Season 37
20 Marketing Mix 38-41
21 SWOT 42-43
22 PESTLE Analysis 44-46
Porter’s 5 Forces’s Analysis and Value Chain 47-49
23 Retail Mix 49-50
24 Competitive Analysis 51-53
25 Current Trends 54-55
26 Store Visit 56-57
Store Layout 58-59
27 Annexure 60-67
28 Referencing 68-69

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 INTRODUCTION
Monte Carlo Fashion Limited is based in India. It is an apparel retailer and manufacturer of
woollen and cotton garments of Men, Women and Kids.

Monte Carlo fashion Ltd was launched in 1984 by Oswal Woolen Mills Ltd, the flagship
company of Nahar group. The launch was a significant step in evolution of branded garment
industry in India. Since then it has been catering to ever-growing demands of clothing and
Fashion Industry.

Monte Carlo has pushed the envolope on high street fashion. The products offered under
brand Monte Carlo, apart from woollen knitted garments are casual summer and sports
wear.

The main objective of the company is to stand up to the buyers’ expectation with consistent
quality backed with R&D divisions equipped with latest technology, a team highly qualified
technocrats and adhering top timely schedules.

The Triangle of MC has it’s own importance and is defined as Men, Women & Woollen
which complete the three dots of triangle. In between it shows how MONTE CARLO plays as
a catalyst.

THE VALUES
EMPATHY:- Walking in other people’s shoes

INTEGRITY:- Right thing

ORIGNALITY:- Authentic and Innovative

COURAGE:- Standing up for what we believe

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 RATIONALE
The ratings continue to derive strength from MCFL’s strong market position in the winter
wear segment with an established brand (Monte Carlo) and multi-channel distribution
network of exclusive brand outlets, multi-brand outlets and large format stores across
more than 700 cities in the country. Further, the ratings are supported by MCFL’s robust
financial profile characterized by strong capital base, negative net-debt position during
most part of the year and strong debt coverage indicators (estimated Debt Sevice Coverage
Ratio of 3.5x and Total Debt/Operating Profit before depreciation, interest,tax and
amortization of 0.5x in FY2018). The strong financial profile helped the company withstand
performance pressures witnessed in FY2017 owing to demonetization –led demand
disruptive during the peak season of wintwer-wear season sales.

The ratings are, however, constrained by concebtration risks arising from high dependence
on winter-wear segment under single brand, which in-turn drives seasonality in sales, limits
geographic diversification and make sales vulnerable to weather condition. ICRA notes that
the third quater of the financial year continue to account for more than -50% of MCFL’s
renenues and profits. Also, most (-90%) of MCFL’s store and sales continue to remain
concentrated in northern, central and eastern region.

In addition, seasonality in business also results in high WC requirements during the peak
season due to high levels of apparel inventory and credit sales to the distribution channel
partners.Nonetheless, ratings continue to draw comfort from the outright sale model for
most of the sales with the limited provision for sales return, which partially mitrigates the
risk of obsolete inventory due to unsold stock..

Notwithstanding the established position of MCFL in the winter wear segment, it faces
strong competition in the summer wear segment from a number of established brands
operatring in the country . As a result, its ability to strengthen its presence in the summer-
wear sagment remains critical for long-term growth, geographical diversifaction and
minimising seasonality in business; and thus will remain a key rating sensitivity besides its
ability to minimise non-moving stock and receivables from the previous season on a
consistent basis to control the working capital. Any large debt funded capital expenditure or
acquisition impacting the capital structure and/or liquidity will also be rating sensitivity.

Why Monte Carlo?

 Personal connect with the with the brand

 Promotional activities are very less
 To know the mission, vision and organisational structue of the brand
 To know how they connect with the customers
 To understand how the brand selects it’s target market
 Internal factors and to study the brand overall

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 HISTORY AND EVOLUTION

HISTORY
Oswal Wollen Mills , the flagship company of the Rs 5000 crore Nahar Group, begin
operations in 1949 as a small hosiery factory in Ludhiana. The Nahar Group is now an
industrial conglomerate with a diversified portfolio that includes spinning, knitting, fabric,
processing, hosiery garments and knit wear, apart from infrastructure development and IT.

In it’s early years, it focussed on hosiery and textile fabric. However, by 1972 it had become
restless. Eyeing a huge business opportunity in the domestic market for ready made knit
wear. It was not till 1984 that OWM launched it’s signature brand,’ Monte Carlo’. This was a
significant step in the evolution of the branded garment industry in India, for it was the first
time that someone had stood up and challenged the might of the deeply intrenched
unbranded and unorganised sector.

EVOLUTION OF BRAND

Parent - Nahar group started

1949 woollen, cotton and blended
yarn + weave denim fabric +
Launched by Nahar Group as apparel.
an
exclusive woollen brand by Late
Oswal 1984
Woollen Mills Limited
Launched own brand of cotton t-
(“OWML”). 2001 shirts to diversify away from woollen
clothing and seasonality.
Branded apparel business was
demerged into Monte Carlo 2011
Fashions
Limited and ownership of the
brand is with the listed company. 2011
Diversified into home
2013
furnishing, kids segment and
various other brands with
Expanded geographical footprint to different ranges.
South and West who currently
2014
contribute 10% of sales.

2015 Entered online space with tie up

with Amazon, Flipkart, Jabong
and Myntra.
Launched exclusive fitness and
fashion wear brand Rock.It for
2016
men

https://www.montecarlo.in/about-us.php

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 MILESTONE
 The Company was awarded as “SUPERBRAND” for woolen knitted and hosiery
garments.
 In 2014 Monte Carlo was honored as one of ASIAS’S BEST MARKETING BRAND by
World Consulting &Research Corporation (WCRC).
 It has also emerged as the No. 1 brand in the men’s wear category in a survey
conducted in the summer of 2009 by image-ORG-MARG.
 The brand has gained the ISO 9001:2000 certifications and has been felicitated by
the International Wool Secretariat with the prestigious Best Exhibited Product
award.

www.montecarlo.com

https://www.business-standard.com/company/monte-carlo

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 VISION
 Evolving Monte Carlo showrooms into one stop destinations by offering
contemporary clothing with world class quality at affordable prices.
 To formulate the best cuts, designs, patterns, colors that gives an edge to basic
clothing.

MISSION

 The main objective of the company is to stand up to the buyer’s expectation with
consistent quality backed with R&D division equipped with latest technology, a team
of highly qualified technocrats and adhering to timely schedule.
 To provide variety of products to fashion conscious people of all ages and taste.

BRAND STRATEGIES
 Our brand strategy is synonymous with the customer strategy which is designed to
give our customer the freedom to express themselves through a wide range of
fashion options and to get the best value for money.
 Their strategy is to be customer focused and technology driven in delivering
innovative, trendy and fashionable garments.
 Aggressive promotional activity is undertaken by the company by way of electronic
media, print media, outdoors and events in order to enhance the brand value of the
product.
 An in house design studio continuously works on new designs with latest styles,
trends and looks.
 Stringent quality measures are adhered to, at every stage, right from manufacturing,
processing and packaging thereby providing flawless craftsmanship.
 Our entire backend system is SAP enabled. Our POS is on DOLPHIN. This company
system and data integration from manufacturing to retail enables us to manufacture
sales. Provide trends forecast to enhance styles and help our franchisees order more
efficiently.
https://wap.business-standard.com
www.montecarlocorporate.com
owmnahar.com/index.php

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 UNIQUE SELLING PROPOSITION
Monte Carlo , known for being a premium quality winter wear brand believes in quality
assurance and creating fashion trends. The brand’s USP lies in it’s high quality knitwear with
a touch of exclusive fashion. It has also differentiated itself with the woolen knit wear made
of self-manufactured yarn. The knit wear is non-bobbling, non-shrinkable and focuses on
comfort.

Monte Carlo studies the the prevailing market trends and introduces new products every
few months. They have intoduced colours other than the basic blue, grey and black, in a
wide range of hues. No one else offers the colour palette that Monte Carlo offers.

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ORGANISATIONAL STRUCTURE

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 FORMATS

RETAIL FORMATS
 EXCLUSIVE BRAND OUTLETS
 MULTI BRAND OUTLETS
 LARGE FORMAT OUTLETS

EXCLUSIVE BRAND OUTLETS- Exclusive Brand Outlets or EBO’s have traditionally

been the building blocks for brands. EBO’s offer the brand potential for complete
display of the offering and also provide specific services related to the brand. The
brand value proposition is clearly translated and experienced by consumers within
the EBO format. Branded stores usually find presence in either malls or on the high
streets ,largely experience led prominent places. EBO’s have been used for
communicating the brand’s image and offerings.

MULTI BRAND OUTLETS- Multi Brand Outlets are a type of retail format in which a
store or a portal or any other form of outlet sells related or unrelated products of
more than one brand. For example, Tesco or Walmart ( or other department store
type retailers), which stock and sell goods from various different brands in their
stores.

LARGE FORMAT STORES- Large Format Stores are also known as Super Stores , Mega
Stores or Big Box stores which are physically large establishents that provide a
greater choice to the consumers under one roof. Walmart, Ikea, Reliance Retail and
Shopper’s Stop are some examples of Large Format Stores. These stores achieve
economies of scale by focusing on large sales volume. As the volume is high, the
profit margin for each product can by lowered, which results in very competitively
priced goods.

STORE LOCATIONS
 More than 250 Exclusive Brand Outlets
 Over 2000 Multi Brand Outlets in India and Abroad
 More than 60 Large Format Stores
 Northern Parts- stores in Delhi, Ludhiana, Shimla, etc
 Southern Parts-Bengaluru, Mangaluru, Mysore, Kochi, Coimbatore, Hyderabad,
Udhagamandalam,etc
 Eastern Parts- Kolkata, Dimapur, Patana, etc
 Western Parts- Nasik, Nagpur, Mumbai, etc

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E-COMMERCE
In an expansion mode , the company is keeping pace with changing trends in the apparel
business with a strong e-commerce presence through it’s own portal as well as tie up’s with
other e-commerce portals such as:-

 Amazon Fashions
 Flipkart
 Jabong
 Snapdeal
 Myntra

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 PRODUCT OVERVIEW
One of the most significant features of Monte Carlo products is its consistent positioning.

From inception it has always pegged itself as high – quality fashion winter wear made from
pure Australian Merino & Lambs’ wool, certified with the woolmark logo. While sweaters
have been its mainstay, the brand has strive to ensure that it is always in sync with
International fashion and trends. It is this that has endangerd it to its clients.

However, at the beginning of this decade, Monte Carlo re-engineered itself emerging from
the makeover as a complete fashion brand.

In 1999, the company forayed into the summer casual segment with addition of T-shirts to
its portfolio. Monte Carlo Summer T-shirts are, today, available in several qualities of fine
fabric including mercerised, Pima and Egyptian cotton for both Men & Women.

The companys’ Spring Summer 13 collection offers a stunning range of in-fashion collared T-
shirts. The collection comes in both horizontal & vertical strips alternating between
colourful, heavy and fine lines, punched into a neutral ground.

The launch of current seasin is a new range of slim – fit crews with striking graphics. To cater
to denim fans, Monte Carlo offers a huge selection of basic denim in various tints and
shades and includes accessories such as belts, metal buckles and coordinated rivets.

Monte Carlo’s range of shirts consists of comfortable linen shirts, trendy casual shirts in
checks and stripes and an innovative collection of washed formals.

The women’s denim range has been styled in antique colours. It comes in both stright fit
styles and a trapered look. The collection, presenting a sensuous feel, comprises linen shirts,
tunics and printed cotton dresses.

Alpha Gold, launched in 2013, is the premium collection created for young woman of
substance; it quickly became a symbol of fashion statement that said ‘you have arrived.’

In the same year Monte Carlo launched its active sportswear range comprising track suits
and bottoms. As often happens with the brands’ launches this, too, attained an iconic
standing and acqired leadership status.

Monte Carlo recently forayed into Tweens wear segment and launched a separate brand-
Tweens Monte Carlo for 8-14 years aged boys and girls. The brand offers trendy clothes for
the age - group and has been imbued with the same characterstics as the parent brand.

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 Product Line

MEN

Footwear Casuals Sportswear Woolen Accessories

Blazers,
Shirts, Trousers, Jeans, T- Tracksuits, Sweater, Caps, Muffler,
Blazers, Waist Shirts, Trackpants, Jacket, Lohi, Socks
Coats.. Chinos, Polo Lowers Sweatshirts,
Shirts Thermal,
Cardigands,
Hoodies,
Zipper

https://www.montecarlo.in/mens-wear.php

WOMEN

WOOLEN ACCESSORIES
CASUAL SPORTSWEAR

Sweater, Stoles,
Leggings, Jacket, Capes,
Jeans, T- Cardigans, Muffler,
Tracksuits,
Shirts, Thermal, Shwals,
Track-Pants
Shorts, Pullover, Socks
Kurtis Poncho,
Capes,
Hoodies,
Zipper

https://www.montecarlo.in/womens-wear.php

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 KIDS

CASUAL WOOLEN ACCESORIES

Sweaters, Belts, Socks,

T-Shirts, Jackets, Mufflers,
Denim, Hoodies, Caps.
Jacket, Zippers,
Dresses,SHIR Ponchos,
TS, Track Coats,
Pants and Cardigans,
Shirts. Thermals.

https://www.montecarlo.in/kids-wear.php

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 SOURCING

DESIGN AND RAW APPAREL BRANDING

PPRODUCT MATERIAL PRODUCTION AND
DEVELOPMENT PROCUREMEN DISTRIBUTION
T

DISTRIBUTION-
EBO+MBO+NCS+
E-COMMERCE
COMPLETELY COMPLETELY IN-HOUSE+
OUTSOURCED OUTSOURCED
IN-HOUSE
BRAND
MANAGEMENT
COMPLETELY

IN-HOUSE

DISTRIBUTION NETWORK
Monte Carlo has a widespread distribution network through multi-brand outlets (MBO’s),
national chain store’s (NCS’S) and exclusive brand outlet’s(EBO’s). The bulk of presence in
EBO’s is through franchisee –owned ,franchisee-operated (FOFO) setups; the rest is through
company-owned,company-operated(COCO) stores. All channels have grown evenly over the
past few years. MBO’s and COCO’s are the biggest distribution channels, followed by NCS
(contributes 10% of the revenue) .

120%

0% 0% 1% 2% 4%
100%

80%
60% Online
65% 63% 61% 57%
60% MBO & NCS
FOFO
40%
COCO

20% 35% 31% 32% 33%

30%

0% 6% 5% 6% 5% 6%
FY13 FY14 FY15 FY16 FY17

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Product Segmentation

20%

40%
Men
Women
Kids

40%

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 NET SALES
The company’s net sales have grown at a CAGR of 16% over FY12 to FY15. The company’s
EBITDA margins have grown at a CAGR of 15% over FY12 to FY15 and the net profit has
grown at a CAGR of 10% over the same period of FY12 to FY15. The company’s past financial
performance generates confidence of a robust financial performance in the near future. In
wake of MCFL being an established brand in northern and western region of India and
management’s confidence of improving margins, expansion in South India and more focus
on cotton apparels, it is expected that the company may be able to outperform the industry
growth rate.

MCFL’s revenues grew at a CAGR of 16% over FY12-15. Going ahead, with focus on cotton
and cotton blended garments (non-sweater), the revenue is expected to continue its growth
at a CAGR of 13% over FY15-17E. As the company shifts towards non-cyclic segments such
as cotton garments, it is able to penetrate markets such as West and South India, which it
traditionally could not enter with its winter wear segment. Consequently, increased visibility
and addition of new territories will augment the revenue growth for MCFL.

https://www.karvyonline.com/

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Brand Lifecycle

http://www.montecarlocorporate.com/company.php

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 STYLING DETAILS

Men
Product Sleeves Neck Size Color Fabric
Sweaters/Pullovers Full Sleeves, Round, 38-48 Black 100% Cotton
Sleevesless T Neck Blue Cotton
Vneck Brown Lamb Wool
Green Pure Wool
Grey Wool Blend
Multicolor
Offwhite
Jackets Full Sleeves Collar 38-44 Black Cotton Rich
Hooded Blue
Brown
Green
Multicolor
Yellow
Shirts Full Sleeves Ban 38-44 Black 100% Cotton
Collar Blue Cotton Rich
Green
Multicolor
Pink
White
Winter T-shirts Full Sleeves Collar, 38-44 Black Cotton Blend
Round Neck Blue Cotton Rich
V Neck Grey
Multicolor
Red
Sweaters Full Sleeves Collar 38-46 Black Blend Wool
Half Sleeves Hooded Blue,Grey Cotton Rich
Round Neck Multicolor Fleece
Red
White
Yellow

Denims Full Length - 30-36 Blue Denim

T-SHIRTS Full Sleeves Ban 38-46 Black 100% Cotton
Half Sleeves Collar Blue Cotton Rich
F Neck Brown
Round Neck Green
V Neck Grey
Multicolor
Offwhite

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 Women
Products Sleeves Neck Size Color Fabric
Cardigans / Pullovers Full Sleeves, Round, 36-44 Black 100% Cotton
Sleveless Collar, Blue Lamb Wool
Vneck Brown Wool Blend
Green Acrlyic Blend
Grey Cotton Mix
Multicolor CottonNylon
Offwhite
Woolen Blouses Full Sleeves, Front Open 36-44 Black Pure Wool
Sleveless Blue
Brown
Green
Red
Offwhite
Yellow
Shawles / Stoles Length Based - Free size Black 100% Cotton
Blue Cotton Rich
Green Viscose
Multicolor
Pink
White
Purple
Red
Tops ¾ Sleeves F Neck 36-44 Black Cotton Blend
Half Sleeves Round Neck Blue Cotton Rich
Front Open Grey
Multicolor
Red
Sweatershirts Full Sleeves Collar 36-44 Black Blend Wool
Half Sleeves Hooded Blue Cotton Rich
Round Neck Grey Fleece
Multicolor
Red
White
Yellow
Denims Full Length - 30-36 Blue Denim
T-Shirts Half Sleeves Collar, 36-44 Yellow Cotton Rich
Round Neck, Blue
V Neck

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 KIDS
Products Sleeves Neck Size Color Fabric
Top Wear Full Sleeves H –Neck 26 – 38 Multicolor 100% Cotton
Half Sleeves V –Neck Black Acrylic Blend
Short Sleeves Round Neck Blue Acrylic Nylon
¾ Sleeves T –Neck Brown Acrylic Viscose
Hooded Gold Acrylic Yarn
Ban Green Blend Wood
Collar Grey Cord

Bottom Wear - - 26-36 Black Cotton Rich

Blue Denim
Brown Fleece
Multicolor
Pink

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 FABRIC DETAILS

Magna wool (pure wool quality) Blended wool

Rabbit wool (Angora) Double Mercerised

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 Rich cotton
100% cotton

Blend cotton 100% linen

www.montecarlo.com

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 COUNTRY:INDIA

REGION:URBAN

CLIMATE:EMERGING AS AN
ALL SEASONAL BRAND

GEOGRAPHIC

GENDER:MEN,WOMEN,KIDS

SOCIAL CLASS &

RELIGION:PEOPLE FROM ALL
DEMOGRAPHIC CLASSES &REGION

PREMIUM LUXURY RANGE

FOR ELITE CLASS

HEALTH CONSCIOUS:
DELIVERS QUALITY
PRODUCTS FOR ALL KIND
OF PEOPLE
PSYCHOGRAPHIC
PERSONALITY&VALUES:A
DDS UPTO TO AN
INDIVIDUAL'S
PERSONALITY WEARING IT

BENEFITS-PROVIDES QUAILTY
BEHAVIORAL PRODUCTS

EXCHANGE OF PRODUCT WITHIN

ONE WEEK OF BUYING

REASONABLE PRICE

VARIETY IN THE WINTER SECTION

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 TARGETING

 The company was initially targeting menswear, though it used to design limited and
selective products for women. Monica Executive Director of Monte Carlo single-
handedly launched the Alpha Collection for women and the tweens Monte Carlo
Collection for kids of age 9-14 years. That eventually led to the brand’s growth.
 Monica Oswal, Executive Director, Oswal Woollen Mills, oversees the brand building,
media planning, marketing and retail segment of Monte Carlo Fashion ltd. The idea
of lending an International image to the brand was conceptualized by her. “The
ideology of the company is to move ahead with the times.
We have made several changes over the years. Youth is our main target now. We are
catering to our loyal customers as well as targeting new people,” she says.
 The company is focusing on the southern parts of the country in order to expand its
business. They have also opened stores in Dubai and Nepal.

POSITIONING

 Renowned woollen garment manufacturers.

 Their new logo is bolder, trendier and signifies the ethos of the company better. It is
extremely identifiable and has been designed after utmost planning and care. The
triangle with the letters ‘mc’ has been retained and given a dynamic appeal in order
to connect with the fashion-conscious populance and exhibits a contemporary and
modern expression.
 Monte Carlo launched its cotton apparel business several years ago to reduce its
dependence on woollen apparel. It created several sub-brands and ventured into
fields such as men, women and children’s sportswear as well. The new initiative have
helped de-risk its business model from winter season and woollen products.
 In the south, where winters are less severe( and hence Monte Carlo is not so well-
known as compared to in the North where woollen garments are a necessity), the
company will have to create consumer awareness. It may also have to step up
promotional expenditure which can weigh on margins. The strategy now is to take
those products across the country

https://www.fibre2fashion.com/news/allnews

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 BUYING SEASONS
The two main buying seasons are:-

 Autumn-Winter
 Spring-Summer

Booking season( booking from the retailers) :

 Winter- May and June

 Summer- October and November

Buying season (buying of raw materials):

 Winter- June and July

 Summer- November and December

Selling/Supply season

 Winter- October to December

 Summer- March to May

WINTER COLLECTION

SUMMER COLLECTION

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 PRODUCT
Name of the Name of the Segment Product
Brand Range Description Description
Woolen and blended
woolen sweaters,
‘Monte Carlo” is woolen woven
flagship an umbrella jackets, cotton and
brand .It caters to the cotton blended
premium and mid – shirts, trousers t-
premium segments shirts, tracksuits,
for men and women thermals, woolen
M accessories, sports-
wear, summer wear.
O
N Cashmere and cash-
PLATINE It is the premium woolen sweaters,
T range for men’s wear blazers coats, cotton
E collection shirts and t-shirts

Denim trousers
DENIM It is the exclusive mid (jeans, shirts and
premium range for jackets)
C denim apparel.

A It is the exclusive Sweaters, cardigans,

R ALPHA range for women shirts, t-shirts, tops,
wear collection dresses and trousers
L
O It is the exclusive Sweater’s, cardigans,
TWEENS range for the kid’s shirt’s, t-shirts and
wear collection bottoms

It is the economy
CLOAK & DECKER range for the men’s Cotton and cotton-
wear collection blended t-shirts

www.montecarlocorporate.com

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 PRICE
MEN PRICE WOMEN PRICE KIDS PRICE SPORTSWEA PRICE
R
SHIRTS 1599-2299 TOPS 395- TOP 660-890 SHORTS 723-998
1300 WEAR

TSHIRTS 690-1795 LOWER 899- BOTTO 650-1110 LOWERS 750-

1399 M 1699
WEAR
TROUSERS/ 1575-3599 DENIMS 1999- TRACKSUITS 1599-
DENIMS 2999 2398

SUMMER 860-1649 CARDIGAN 1120-

LOWERS S 3620

SWEATERS/ 1400-4335 WOOLEN 1185-

PULLOVERS BLOUSES 1390

JACKETS 3200-5000 SHAWLS/S 825-

TOLE 3500
MUFFLERS/ 299-899 LONG 2899-
CAPS/SOCK COATS/JAC 5500
S KETS

https://www.montecarlo.in/

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 PLACE
Monte Carlo’s portfolio of products is sold through ‘Monte Carlo Exclusive Brand
Outlets’(EBOs).Multi brand outlets (MBOs)and a network of national chain stores (NCS)that
merchandise product in an environment that reinforces its brand in premium and mid-
premium categories. Presently, products are supplied by 21 exclusive commission agents to
over 1400 Multi-Brand Outlets. EBO’S are mainly concentrated in northern, central and
eastern India. Basically opening stores at high streets at premium retail locations and
showcasing wide range of products, helps the company to develop their brand equity.

SWOT

https://www.karvyonline.com

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 PROMOTION

ADVERTISEMENT:
NEWSPAPER, TV
ADS, SOCIAL
MEDIA AND OTHER
PORTALS
SPECIAL OFFERS: DIRECT
END OF SEASON MARKETING:
SALE, GIFTS, TEXT MESSAGES,
VOUCHERS, CALLS, MAILS
LOYALTY POINTS

MONTE CARLO
PROMOTIONAL
STRATEGIES

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STRENGTHS
 Strong market position in the winter wear segment with multi channel
distribution network-The company enjoys a pan India, multi channel distribution
network of230- EPO’S 2300 MPO’S and 204 large format /national change store
outlets, across more than 700 cities in the country.
 Robust financial profile characterized by strong capital base, negative
net-debt position during most part of the year and strong debt
coverage indicator-The company with its strong capital base help the accruals
which are sufficient for most of its funding requirements also reflect low leverage.
 Healthy growth prospects for the branded apparel industry- Growth
prospects for the branded apparel industry female remain healthy, given low
penetration of the organized retail market in India and favorable demographic
profile.
 Operational and financial flexibility by virtue of being a part of the
Nahar Group-it is part of ludhiana based Nahar group, which is one of the largest
and oldest textile group in the country.

WEAKNESSES
 Lack Marketing Strategies- MCFL lacks marketing strategies .There’s no
promotional activity at the store to attract customers. People are not aware of
summer collection.
 Lack of Employee Motivation-Unawareness of the brand’s new collection,
results in less walk-in is a major reason for employee lack of motivation as they

42 | P a g e
 don”t have anything to look forward to which directly leads to rise in Employee
Turnover Ratio.
 Concentration Risk-MCFL has expanded its product portfolio over the years to
offer complete range of apparels; however it continues to have high dependence
upon winter wear segment. Resultantly MCFL says remains vulnerable to weather
conditions.
 Western and Southern Region of India-With the increase in the competitive
market, the brand needs to strengthen its operation across India, mainly in the
southern parts of the country.
 Research and Development-The brand need to focus on Research Strategies as
it is very useful to ask a cross section of customers, staff and other key stakeholder
what they think about the current brand so as to keep moving forward.

OPPORTUNITIES
 Global Market- The brand is planning to expand its business globally. Currently
the brand is present in Dubai, Nepal and Bangladesh and is looking to enter more
markets.
 Growing Demands-With growing demand for apparel Monte Carlo now being an
all seasonal brand will help the brand to expand its business and reach out to more
customers.
 Growth in Economy- Growth of the Indian economy at a fast pace.
 New product and Services-Monte Carlo is primarily known as winter-brand, is
trying to change its image to all season apparel brand. MCFM has come up with
summer collection as well as sports-wear.

THREATS

 Growing Competition-Competitor might introduce better products and services

at a low price.
 Tax changes-With the introduction of new government policies there can be a
change in the tax system every now and then which affects the brand growth.

https://www.sebi.gov.in/sebi_data/attachdocs/may-2018/1526038531239.pdf

43 | P a g e
POLITICAL ISSUES-

 Greater transparency due to implementation of GST which reduced trade barriers in

the brand
 Make in India campaign to interest the manufacturing sector of the country and to
increase the inward investment in different sectors. Textile industry is one of the
identified benefactor of this campaign.
 India is the largest democracy in the world. The political situation in India is more or
less stable. There are many political factors such as taxation policy, privatisation,
government stability etc.
 Political changes such as simplification of FDI policies helps in larger FDI inflows
contributing to growth of investments, income and employment.

ECONOMIC ISSUES-

 India is the 2nd largest exporter of textile and apparel globally. Domestic Textile and
apparel industry contributes 8% to India’s GDP and accounts for 14% of industrial
production, 27% of the country’s foreign exchange inflows and 13% of country’s
export earnings. The Textiles & Garments industry in India that employs 45 million
people in India is the second only to agriculture sector in terms of employment.
 Rise of FDI in India has an impact on the retail industry leading to an increase in the
number of international brands entering the Indian market thus creating more
opportunities for Monte Carlo.
 Increase in petrol and diesel prices, will increase the cost of supply chain which will
lead to an increase in cost of production of Monte Carlo.
 Increase in disposable income of the indian population leads to increase in
consumption which in turn leads to increase in the sales of Monte Carlo.

44 | P a g e
SOCIAL ISSUES-
Social culture factors also have important role in the growth of the fashion retail industry.
Major social changes occurred in the last 10 years that have affected the demand for
fashion products. While the millennial generation is now the main target of the fashion
brands its preferences are very different from previous. A number of changes on the socio-
culture level have affected how people shop and make their shopping decision or which
brands they prefer to shop from. Millennial do not just want convenience but also low
prices and great quality. Brands are catering to different needs where they do not just have
to push sales but to attract the customer, the fashion industry has felt the push and the rise
of fast fashion is a proof.

Monte Carlo has become the part of fast fashion race affordable but good quality fashion to
the customers. The result is consumers are flocking to fast fashion avenues. Not just taste
but other things have also changed about consumers. They have grown more discerning and
make decision based on information which they can acquire easily from several resources.
They rely on feedback not on marketing campaigns.

TECHNOLOGICAL ISSUES-
Technology is a very important factor affecting the growth of the fashion retail industry. A
large part of the 21st century growth story of fashion retail can be attributed to the
technological developments that have happened in this era. Globalization, IT, internet and
increased use of mobile devices for shopping are affecting sales, marketing and consumer
choices. The millennial generation mostly likes to shop online and likes a personalised
experience in terms of shopping and customer service.

Another area where technology has benefitted the fashion brands is in terms of overseas
expansion. E-commerce has helped them to go past borders and sell to a large customer
segment.

 New product development as well as invention of latest technology.

 Technology has great impacts on cost reduction, quality as well as innovation. India
is now served with the 3G-4G technology steered by the installation of optic fiber
cable , this has facilitated innumerable projects in technology.

LEGAL ISSUES

 Limited laws for e-commerce.

 Inefficient implementation of regulations,companies have to follow Labour
Employment law .

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ENVIRONMENTAL ISSUES

 Wastage generated by dyeing techniques disturbs the atmosphere

 India is ranked 4th worst country in environmental pollution. It is affecting our nature
which will further affect our brand
 Monte Carlo is using sustainable practices. Sustainable practices not only to the
natural world but also to the other important issues such as poverty, consumption,
community and health to manufacture the products.

https://www.cheshnotes.com/2017/09/pestelpestle-analysis-of-the-fashion-retail-industry

46 | P a g e
 PORTER’S 5 FORCES ANALYSIS

HIGH HIGH HIGH HIGH HIGH

PORTER’S VALUE CHAIN

A value chain is a set of activities that an organization carries out to create value for its
customers. Porter proposed a general-purpose value chain that companies can use to
examine all of their activities, and see how they're connected. The way in which value chain
activities are performed determines costs and affects profits, so this tool can help you
understand the sources of value for your organization.

Elements in Porter's Value Chain

Rather than looking at departments or accounting cost types, Porter's Value Chain focuses
on systems, and how inputs are changed into the outputs purchased by consumers. Using
this viewpoint, Porter described a chain of activities common to all businesses, and he
divided them into primary and support activities, as shown below.

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Primary Activities

Primary activities relate directly to the physical creation, sale, maintenance and support of a
product or service. They consist of the following:

 Inbound logistics – These are all the processes related to receiving, storing, and
distributing inputs internally. Your supplier relationships are a key factor in creating
value here.
 Operations – These are the transformation activities that change inputs into outputs
that are sold to customers. Here, your operational systems create value.
 Outbound logistics – These activities deliver your product or service to your
customer. These are things like collection, storage, and distribution systems, and
they may be internal or external to your organization.
 Marketing and sales – These are the processes you use to persuade clients to
purchase from you instead of your competitors. The benefits you offer, and how well
you communicate them, are sources of value here.
 Service – These are the activities related to maintaining the value of your product or
service to your customers, once it's been purchased.

Support Activities

These activities support the primary functions above. In our diagram, the dotted lines show
that each support, or secondary, activity can play a role in each primary activity. For
example, procurement supports operations with certain activities, but it also supports
marketing and sales with other activities.

 Procurement (purchasing) – This is what the organization does to get the resources
it needs to operate. This includes finding vendors and negotiating best prices.
 Human resource management – This is how well a company recruits, hires, trains,
motivates, rewards, and retains its workers. People are a significant source of value,
so businesses can create a clear advantage with good HR practices.

48 | P a g e
  Technological development – These activities relate to managing and processing
information, as well as protecting a company's knowledge base. Minimizing
information technology costs, staying current with technological advances, and
maintaining technical excellence are sources of value creation.
 Infrastructure – These are a company's support systems, and the functions that
allow it to maintain daily operations. Accounting, legal, administrative, and general
management are examples of necessary infrastructure that businesses can use to
their advantage.

Companies use these primary and support activities as "building blocks" to create a valuable
product or service.

The store is
two-storey EBOs-30
building and
has a mix of
MBOs-1500
wooden and
white flooring.

SEASONAL SALE AND

DISCOUNTS PRICE RANGE

ONLINE MARKETING- MEN-495-6999

FACEBOOK PAGE ETC
TV AND NEWSPAPER WOMEN-399-4995
ADS. RETAIL MIX
KIDS-299-2900
DIRECT ADS-
MAIL,TEXTS,CALLS

The store is managed

efficiently by the employees
. All the products are kept
according to the color,size
and gender.The staff is well-
mannered and helpful
Their wollen products
include sweaters and
cardigans, woven
garments include shirts,
trousers, suits, jackets
and denims. They also
supply accessories like
belts, socks, thermal
wear,ties and inner wear

49 | P a g e
Retail Mix consists of 7 components –

 MERCHANDISE ASSORTMENT- refers to the decision about the product line which
includes their wollen products include sweaters and cardigans, woven garments
include shirts, trousers, suits, jackets and denims. They also supply accessories like
belts, socks, thermal wear,ties and inner wear .Apart from that they have 100%
cotton wear,cotton mix and cotton nylon. Different type of wool such as lamb
wool,rabbit wool.
 PRICING- The brand provides variety of products at a very reasonable price. The
product range starts from
 Men Rs495-6999
 Women Rs399-7235
 Kids Rs399-2999

 LOCATION-Monte Carlo’s portfolio of products is sold through ‘Monte Carlo

Exclusive Brand Outlets’(EBOs).Multi brand outlets (MBOs)and a network of national
chain stores (NCS)that merchandise product in an environment that reinforces its
brand in premium and mid-premium categories. Presently, products are supplied by
21 exclusive commission agents to over 1400 Multi-Brand Outlets. EBO’S are mainly
concentrated in northern, central and eastern India. Basically opening stores at high
streets at premium retail locations and showcasing wide range of products, helps the
company to develop their brand equity.

 STORE DESIGN AND DISPLAY- Monte Carlo store around India has the same
interiors ,flooring and display pattern.The total area of the store is 1200 square feet
with wooden furniture and fixtures. Any franchise follow the same display pattern
such as the lights should be white and blue similar to the logo of the brand.

 COMMUNICATION- The brand offers seasonal sale during diwali or any indian
festival for example diwali shop for 7500 travel kit free. They have upto 40% off on
end of season sale inbetween June-July.The brand also focus on advertisement and
marketing through different channels ,social media ,tv and news news channel are
the main promotional stratergy.

 CUSTOMER SERVICE- The store is managed efficiently by the employees all the
products are kept according to the color,size and gender.The staff is well-mannered
and helpful.Customer walkins are more during the end of the year .

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 Zodiac

Indian Terrain
C

O
Kewal Kiran Clothing Industries
M

P
Kitex Garment Ltd
E

T
Gokuldas Export
I

T
Pearl Global
O

R
SPL Industries
S

Aditya Birla Fashion Retail Ltd

Page Industries

51 | P a g e
Zodiac- :

 Self-owned manufacturing and sourcing facilities as it owns almost 7 manufacturing

units
 Zod clubwear is a popular sub-brand of Zodiac clothing
 Established strong standards for it’s products through various certifications like the
TESTEX Zurich Certification
 Presence across Asia and Europe . Has 16 offices across 5 countries
 Zodiac sells to approximately 2000 multi-brand retailers and over 80 exclusive Zodiac
showrooms spread across

Indian Terrain:-

 Launched in 2000, Indian Terrain demerged from Celebrity Fashion Ltd, the parent
company, in 2010.
 It has a turnover of over ₹ 500 crore , Indian Terrain today retails across the country
through 800 plus Multi Brand Outlets(MBO’s), 150 plus doors of Large Format Stores
(such as Lifestyle, Shoppers Stop and Central), 100 plus Exclusive Brand Outlets(
EBO’s) and key E-Commerce platforms as well. The apparel is also available on the
brand’s E-Commerce site.

Kewal Kiran Clothing Industries:-

 Kewal Kiran Clothing Ltd (KKCL) is one of India’s largest branded apparel
manufacturers’ engaged in the designing, manufacturing and marketing of
branded jeans and a wide range of western wear, since 1992. With in house fashion
brand’s Killer, Integriti, LawmanPg 3, Easies, K-Lounge and Addictions, they have
created a niche segment for apparel and accesssory lovers across India.

Kitex:-

 A part of the renowned-Kitex Group of Companies , founded by the legendary late

Shri M.C.Jacob, Kitex Garments Ltd is the largest employer in private sector Kerala. It
started with INR 1.8 crores turnover in the year 1995-96, the company has now
grown to a turnover of over INR 524 crores in 2014-15. The company is currently the
second largest producer in children’s apparel in the world, and now in the process of
setting up operations in the United States of America.

52 | P a g e
Gokuldas Export:-

 Gokuldas Exports is the one stop shop for the world’s most acclaimed brands. It is
the largest manufacturer and exporter of apparels in India with an annual turnover
of USD 200 million. 25000 people across 23 manufacturing units work to ensure that
whatever the global trend Gokuldas Export is always in fashion.21 million garments
are produced in a year which are exported to more than 30 countries

Pearl Global Industries:-

 The erstwhile business of Pearl Global consisted of manufacturing , trading,

marketing and distribution and exports of ready-made garments.
 Capacity of around 5 million garments per month (including own and out-sourced
facilities).
 Global Clientele -21 retailers with major thirst in USA and Europe, eg , Gap, Banana
Republic , Kohl’s, Macy, Ralph Lauren, Tom Tailor, Next, to name a few.

SPL Industries Ltd:-

 SPL Industries Ltd is a garment manufacturing company. The company’s primary

business are sale and exports of cotton-knitted garments and made-ups and
processing charges. The company designs, manufactures and sells a range of outer
wear such as t-shirts, sweat shirts and polo-shirts for various customers in the
international market. It operates over 5 factories in Faridabad. The firm posted a net
profit of ₹ 6.59 crore for the quarter ending June 2018.

Aditya Birla Fashion & Retail Ltd:-

 Aditya Birla Fashion & Retail Ltd (ABFRL) brings together the learnings and
businesses of two renowned Indian Fashion Icons Madhura Fashion and Lifestyle and
Pantaloons Fashion and Retail. ABFRL is India’s no 1 Fashion Lifestyle entity with a
combined revenue of ₹ 7181 crore of FY18 and EBITDA of ₹ 501 crores for FY18.

53 | P a g e
 CURRENT TRENDS
SUMMER/SPRING COLLECTION-With the launch of summer collection Monte Carlo is
focusing on becoming an all seasonal brand the collection includes light shades shirt, t-shirt,
tops, trousers and other bottoms.

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AUTUMN/WINTER COLLECTION-The brand unveiled its autumn/winter collection
reflecting a blend of modern styling with fresh designs. The season collection boasts of
modern styling and innovative design ideas keeping in mind the consumer preference.
While the men’s wear for the season includes stylish and perfect cuts jackets, blazers,
trench-coat, waist coasts, sweatshirts and sweaters in a host of vibrant colors, the women
wear range includes exciting and elegantly designed, jackets, coats, trench-coats,
sweatshirts, long capes, waist coats, shrugs and ponchos in trendy and stylish silhouettes.

To cater to the modern wardrobe requirements the brand offers trendy bottom wear and
fashionable accessories. While the bottom wear line includes a wide range of jeggings,
denims, accessories range features fashionable caps, socks, mufflers, shawls, stoles.

55 | P a g e
 STORE VISIT
We visited the Monte Carlo store at BORIVALI WEST (MUMBAI).The total area of the store is
with wooden furniture and fixtures. The store is two-storey building and has a mix of
wooden and white flooring and color.

The first thing to notice once you enter the store is the centre table display with their latest
menswear collection of shirts, t-shirts and trousers. The lighting of the store is bright white
to attract the customer’s attention. The entire outlet was maintained in a proper manner
with products arranged according to the colors and size.

The ground floor has the men collection, towards the right you’ll see casual and formal
shirts next to that they have men accessories which includes belts, ties and on the left hand
side you’ll see men t-shirts in different color and size in the centre you have display of
winter wear sweat-shirt and cardigans.

On 1st floor you will find collection of women and kid’s wear, towards the left you have
display of women collection ranging from top, t-shirt, dresses to sweater shrugs. In kids
wear u have paints, t-shirt, sweaters.

They change the window display every two days. They have a wall display showing the
growth of the brand over the years. There are 5 employees in the store including the
manager and the sales staff.

Primary Research

56 | P a g e
57 | P a g e
58 | P a g e
59 | P a g e
 ANNEXURE

Target Market: 20 years-60 years

Sample Size:82 out of 100

Gender

43.90%

56.10% Male
Female

How often do the customers buy

new clothes?

15.90% Several times per month

31.50%
14.60% Several times every 6
months
Several times per year
39.00%
Occasionally

60 | P a g e
 Which are the products the customers buy
most often?
Accessories 1.20%

Indian Traditional 1.20%

Footwear 28.00%

tops ,dresses, tshirts 65%

Sweaters, Sweatshirts, Jackets 15%

Denim, Pants,Trousers, shorts, skirts 59.80%

0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00%

Usual clothing size of the customers

4.9%
14.60%

17.10% S
M
L

31.70% XL

31.70% XXL

61 | P a g e
Following of current fashion trends by
customers

Yes
45% 45% No
Yes but not very regularly

10%

Customer spending on clothing

3.70%

19.50%

100-1000
1000-5000
5000-10000
20.70%
56.10% More than 10000

62 | P a g e
 Customer preference while purchasing
clothes

Value for money 63.40%

Brand popularity 14.60%

Fashion trend 26.80%

Colour and Design 50%

Good quality 67.10%

0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00%

Season during which customers spend the

most

20.50%
52.60%
Spring
Summer
57.70%
Autumn
19.20% Winter

63 | P a g e
 What encourages customers to try new
fashion styles
Others 7.80%

Influencers 29.90%

Occasion 55.80%

Family member's suggestion 19.50%

Friend's suggestion 18.20%

Celebrities styling 35.10%

0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00%

When shopping customer's

1.20%

23.80% Always return to the same shop

28.70%

Try new shops

Go to shops where there are

46.30% special offers
Online shopping

64 | P a g e
Would people stick to the same brand if the
prices of it's products increase?

13.60%

17.30%
Yes
No
69.10%
Maybe

Customer's awareness about Monte Carlo

brand
6.10% 2.40%

Yes
No
Maybe

91.50%

65 | P a g e
 Customer's usage of Monte Carlo products

4.9%

Yes
39.00% No
56.10% Maybe

Customer's awareness about Monte Carlo's

Summer Collection
80.00%
69.50%
70.00%

60.00%

50.00%

40.00%

30.00% 25.60%

20.00%

10.00% 4.9%

0.00%
Yes No Maybe

66 | P a g e
 What brings customer's back to Monte Carlo?
80.00%
73.20%
70.00%

60.00%

50.00%
41.50%
40.00% 35.40% 34.10%

30.00%

20.00%
12.20%
10.00% 6.1%

0.00%
Quality Variety Winter wear Summer Prices and Convenience of
collection collection offers store location

According to the statistics based on the survey, the brand Monte Carlo is a well known
name in the men’s category and preferred by men as compared to women. The brand is
known for its winter collection but is still not able to make a remark as an all seasonal brand,
the target customer fall under the age group 28-54 and a major part of north region. The
customer prefers size medium and quality being the reason for customer loyalty towards
the brand for over the years.

The survey shows the customer preference and taste could change due to rise in prices
which allow customer to try new products. It also shows the customer like to spend more on
summer wear as compared to winter wear which leads to seasonal sales.

Therefore, the brand needs to focus on the marketing strategies for the new all seasonal
clothing and need to expands its business in the other regions of the country.

https://docs.google.com/forms/d/1gnqFQE4OxkDtwzZFg7Z-6ksUgYsLfVdzKbnAWklUn_4/edit

67 | P a g e
 REFERENCING
•The Economic Times (2018) ‘Monte Carlo Fashion
Ltd’, https://economictimes.indiatimes.com/monte-carlo-fashions-
ltd/quotecompare/companyid-58299.cms (accessed on 6.10.18)

•Business Standard ( Fri, May 11 2018. 17:05 IST) Available at https://www.business-

standard.com/company/kewal-kir-cloth-27266/information/company-
history ‘Monte carlo list below issue price’ (accessed on 15.10.18)

•Business Standard (Dec 20 2018) Available at

• https://www.business-standard.com/company/kewal-kir-cloth-
27266/information/company-history

•‘Monte Carlo shares fall 12% on debut’ (accessed on 15.10.18)

•Press Reader (20 May 2018) ‘Monte Carlo Fashion

Ltd’, https://www.pressreader.com Fashion products (accessed on (10.Nov.18)

•Monte Carlo fashion ltd management discussion, (2016) Available

from https://www.indiainfoline.com/company/monte-carlo-fashion-ltd/management-
discussion/64824 Revenue (accessed on 6.10.18)

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from http://www.slideshare.net/amritarastogi/case-study-on-monte-carlo {accessed on
7.oct.18}

•Annual Report, (2016) [online] Available from:

•www.montecarlocorporate.com/pdf/Annual-Report-2016-17.pdf {accessed on 23.oct.2018}

•Offlical Monte Carlo Online Store Available From:

•https://www.montecarlo.in/kids-wear.php Accessed on 25th Oct 18

•Offlical Monte Carlo Online Store Available From:

• https://www.montecarlo.in/womens-wear.php [Accessed on 22nd Oct 18]

•Offlical Monte Carlo Online Store Available From:

•https://www.montecarlo.in/mens-wear.php [Accessed on 25th Oct 18]

•Nowhere, L. (2015). Monte Carlo Fashions Ltd - Branded Apparel Stock at Good Valuation.
[Online] Available from: http://forum.valuepickr.com/t/monte-carlo-fashions-ltd-branded-
apparel-stock-at-good-valuation/3782 [Accessed on 3rd Nov 2018]

•Chaphalkar, K. (2014). Monte Carlo Fashion Limited - Buy - But Not for Long Term
Portfolios. [Online] Available from:

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•http://investorsareidiots.com/retirement-investments-equity-fixed-income-currencies-
commodities-economy/home/home-2/homespage/2014/12/monte-carlo-limited-buy-but-
not-for-long-term-in-the-portfolio/ [Accessed on 24th Oct 18]

•Kelly Murphy 22.Feb.18 Available From:

•https//simplywall.st/stocks/in/consumer-durables/nse-montecarlo/monte-carlo-fashions-
ltds-nsemontecarlo-recent-track-record-look-strong/ Thus
Monte Crlo Fashions Ltds (NSE:MONTECARLO) Recent track record look strong [Accessed on
4th nov 18]

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