Monte Carlo Fashions Limited

Monte Carlo Fashions Limited (MCFL)

Company type	Public
Traded as	BSE:  538836 NSE:  MONTECARLO
Industry	Clothing
Founded	1984;41 years ago (1984)
Founders	Shri. Jawahar Lal Oswal Jain, Chairman & MD: Mr. Kanubhai M. Patel [1]
Headquarters	Ludhiana, Punjab, India
Number of locations	1,500 stores
Products	Apparel, Athleisure, Home Textiles, Accessories, etc
Website	montecarlo.in

Monte Carlo Fashions Limited (doing business as Monte Carlo) is an Indian clothing company headquartered in Ludhiana, Punjab. It operates as a retail clothing chain, a fashion brand positioned between budget and luxury segments, selling woolen and cotton garments, home textiles, and accessories. The brand is a part of the Nahar Group and was launched in 1984 by Oswal Woollen Mills.

Chairman

Jawahar Lal Oswal serves as Chairman of Nahar Spinning Mills Ltd., Chairman of Nahar Capital & Financial Services Ltd., and Chairman & Managing Director of Monte Carlo Fashions Ltd. ^[2] Oswal was born in Ludhiana on 5 August 1942 and earned an M.Com degree with a gold medal from Panjab University, Chandigarh. ^[3] In 1984, he oversaw the launch of the Monte Carlo brand under Oswal Woollen Mills—initially woolens and hosiery, later expanding into year‑round apparel. In 2005, the company opened its first exclusive brand outlet, and by 2009 expanded to over 100 retail outlets nationwide. ^[4]

Chairman Jawahar Lal Oswal, Monte Carlo Fashions Limited

History

Monte Carlo original logo

Monte Carlo store, sector 11, Dwarka, New Delhi

Origins (1949–1983)

Monte Carlo's roots can be traced back to 1949 with the founding of Oswal Woollen Mills (OWM) in Ludhiana, the flagship company of the Nahar Group. Initially focused on woolen yarns and hosiery, OWM laid the groundwork for future expansion into branded apparel. ^[5]

Brand launch and growth (1984–2010)

In 1984, the Monte Carlo brand was launched by OWM, introducing woolen and hosiery products under a different brand. In the early 2000s, the brand began manufacturing year-round apparel, and in 2004, the company launched its premium collection, "Luxuria". ^[6]

The first exclusive Monte Carlo retail outlet opened in 2005. By 2009, the brand had expanded to 100 showrooms across India. ^[7]

Corporate evolution (2011–2015)

Monte Carlo Fashions Ltd (MCFL) was formally incorporated in 2008 and demerged from OWM in 2011. In 2012, private equity firm Samara Capital invested in the company. In 2014, MCFL launched its IPO and was subsequently listed on the Bombay Stock Exchange and National Stock Exchange in 2015. ^[8]

Recent developments (2016–present)

MCFL continued expanding with sub-brands such as "Platine" (premium menswear) and "Rock It" (sportswear). The company opened its 300th store in 2021 and incorporated a new subsidiary, Monte Carlo Home Textiles Ltd. As of 2024, the brand operates over 350 exclusive outlets and is present in more than 2,500 multi-brand outlets across India. ^[9]

Operations

Manufacturing

MCFL operates two manufacturing facilities in Ludhiana that are focused on woolen and cotton products. In-house production of cotton T-shirts and thermals began in 2014. They also house product development and design teams, ^[5] and include facilities for product development, a design studio, and sampling infrastructure. ^{[10] [11]}

Technology and design

The company uses imported machinery from Japan, Italy, the UK, and Germany. It has implemented SAP HANA and SAP Analytics Cloud (SAC) to support inventory, vendor management, and consumer behaviour analytics. ^{[12] [5]}

Retail presence

As of 2025, MCFL is planning 400+ exclusive brand outlets and is present in over 2,500 multi-brand retail locations in India. The flagship store is located in Ludhiana, Punjab. In 2023, Monte Carlo revitalized its anchor retail façade situated on a 24-year-old factory campus along a major highway in Ludhiana. ^[13]

Marketing and Brand Endorsements

Monte Carlo has partnered with public figures such as Raveena Tandon, Andre Russell, and Arjun Rampal. The brand has also been featured in Bollywood films including Barfi! , Bhaag Milkha Bhaag , and Mary Kom . ^[14] MCFL organised the 13th Monte-Carlo Fashion Week on 22–26 April 2025. ^{[15] [16]}

References

1. "Board of directors". MONTE CARLO.
2. "Jawahar Lal Oswal Executive Profile – Monte Carlo Fashions Ltd" (PDF). montecarlo corporate. Monte carlo. Retrieved 6 August 2025.
3. "Business Leaders in Indian Textile Industry". Indian Textile Magazine. 27 March 2015. Retrieved 3 July 2025.
4. "History of Monte Carlo". Company Archives. Retrieved 3 July 2025.
5. "SEBI Prospectus Monte Carlo Fashions Ltd". Securities and Exchange Board of India. Retrieved 2025-05-02.
6. Superbrands: Consumer First Edition. Superbrands India. 2004.
7. "OWM celebrates 100th store's opening". 2009-10-22. Retrieved 2025-05-02.
8. "Monte Carlo IPO Note". Angel One. 2014-12-01. Retrieved 2025-05-02.
9. "Monte Carlo to open 45-50 exclusive outlets in FY24". Economic Times CFO. Retrieved 2025-05-02.
10. "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". ETCFO.com. cfo.economictimes.indiatimes.com. April 24, 2023.
11. "Monte Carlo experiences robust summer season bookings". CNBCTV18. cnbctv18.com. Aug 8, 2023.
12. "SAP HANA and SAC implementation at Monte Carlo". Economic Times. Retrieved 2025-05-02.
13. "Monte Carlo Ludhiana: Revitalising Architectural Grandeur by TOD Design Innovations". Commercial Design India. Retrieved 4 August 2025.
14. "Monte Carlo in Bollywood films". Mumbai Splash. Retrieved 2025-05-02.
15. "Monte-Carlo Fashion Week: "Eco-sustainability is more central than ever to our approach"". Monaco Tribune. Retrieved 28 April 2025.
16. "Monte Carlo Q4FY23 profit surges 55.3%". Moneycontrol. Retrieved 2025-05-02.

^{[1] [2]}

External links

• Official website

1. "Monte Carlo Fashions Ltd share price | About Monte Carlo Fas. | Key Insights - Screener". www.screener.in. Retrieved 2025-07-10.
2. "Monte Carlo Fashions News - Monte Carlo Fashions Announcement, Latest News on Monte Carlo Fashions". The Economic Times. Retrieved 2025-07-10.