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)
Headquarters	Ludhiana, Punjab, India
Number of locations	1,500 stores
Key people	Jawahar Lal Oswal (Chairman) Sandeep Jain (Executive Director) Raj Kapoor Sharma (CFO) [1]
Products	Apparel, Athleisure, Home Textiles, Accessories
Website	montecarlo.in

Monte Carlo Fashions Limited (MCFL), commonly known as Monte Carlo, is an Indian clothing company headquartered in Ludhiana, Punjab that engages in manufacture and trade of the premium and mid-premium wool and cotton, cotton blended, knitted, and woven apparels in India and internationally under the umbrella brand “Monte Carlo”. ^[2]

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. ^{[3] [ verification needed ]}

Brand launch and growth (1984–2010)

In 1984, OWM established the Monte Carlo brand as a distinct apparel label, with a focus on winter wear such as sweaters. Beginning in the late 1990s Monte Carlo began expanding its product line into all-season apparel. ^[4]

The first exclusive Monte Carlo retail outlet opened in 2005.^{[ citation needed ]} By 2009, the brand had expanded to 100 showrooms across India. ^{[5] [6]}

Corporate evolution (2011–2015)

MCFL was incorporated in 2008 and de-merged from OWM in 2011. In June 2012, Samara Capital invested USD $32 million for a minority stake, with plans to exit through an eventual IPO." ^{[3] [ verification needed ]} In 2014, MCFL launched its IPO, ^[6] and was subsequently listed on the Bombay Stock Exchange and National Stock Exchange in 2015.^{[ citation needed ]}

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. The facilities include product development, design, and sampling capabilities. ^{[3] [ verification needed ]}

Retail presence

In year 2006 there were 23 stores. ^[7] In 2009, 100th store ^[8] was opened in New Delhi. As on March 2014 there are 191 ^[3] ‘Monte Carlo Exclusive Brand Outlets’ in India and two are in Dubai & Kathmandu respectively and over 1,300 ^[3] multi brand outlets across India. Monte Carlo has been awarded the Superbrand status. ^[9] In 2023, Monte Carlo renovated its flagship retail store located at its manufacturing facility in Ludhiana. ^[10]

References

1. "SHAREHOLDER INFORMATION". Monte Carlo Corporate. Retrieved 2025-11-28.
2. "Monte Carlo IPO: Fairly priced".
3. "SEBI Prospectus Monte Carlo Fashions Ltd". Securities and Exchange Board of India. Archived from the original on 2025-04-24. Retrieved 2025-05-02.
4. "Monte Carlo- Superbrand 2003 - 2005". Archived from the original on 2005-12-14. Retrieved 2025-11-28.
5. "OWM celebrates 100th store's opening". 2009-10-22. Retrieved 2025-05-02.
6. "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
7. "Monte Carlo plans expansion". The Tribune (Chandigarh). November 2, 2006. Retrieved February 5, 2015.
8. "OWM celebrates 100th store's opening". The Indian Express. October 22, 2009. Retrieved February 5, 2015.
9. "Business Superbrands 4th Edition 2014". Superbrands . Retrieved February 5, 2015.
10. "Monte Carlo Ludhiana: Revitalising Architectural Grandeur by TOD Design Innovations". Commercial Design India. Retrieved 4 August 2025.

External links

• Official website