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, Chairman & MD: Mr Kanubhai M. Patel [1]
Headquarters	Ludhiana, Punjab, India
Number of locations	1,500 stores
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. The company operates a nationwide retail clothing chain selling apparel across multiple price points, from budget to premium segments. The brand is a part of the Nahar Group and was launched in 1984 by Oswal Woollen Mills. Monte Carlo operates approximately 350 exclusive brand outlets and is present in over 2,500 multi-brand retail locations across India as of 2025.^{[ citation needed ]}

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. ^[2]

Brand launch and growth (1984–2010)

In 1984, OWM established the Monte Carlo brand as a distinct apparel label, initially focusing on woolen and hosiery products. In 2004, the brand expanded beyond seasonal hosiery to produce all-season apparel, including a premium collection branded as Luxuria. ^[3]

The first exclusive Monte Carlo retail outlet opened in 2005. By 2009, the brand had expanded to 100 showrooms across India. ^{[4] [5]}

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." ^{[2] [6]} In 2014, MCFL launched its IPO and was subsequently listed on the Bombay Stock Exchange and National Stock Exchange in 2015. ^[7]

Recent developments (2016–present)

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. ^[8]

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. ^{[2] [9] [10]}

Retail presence

In 2023, Monte Carlo renovated its flagship retail store located at its manufacturing facility in Ludhiana. 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. ^[11]

References

1. "Board of Directors". Monte Carlo.
2. "SEBI Prospectus Monte Carlo Fashions Ltd". Securities and Exchange Board of India. Retrieved 2025-05-02.
3. Superbrands: Consumer First Edition. Superbrands India. 2004.
4. "OWM celebrates 100th store's opening". 2009-10-22. Retrieved 2025-05-02.
5. "Monte Carlo Fashions IPO Note" (PDF). Angelone.in. Angel One. December 1, 2014. Retrieved 12 October 2023.
6. "Superbrands Consumer 1st Edition 2004". Superbrands . Retrieved February 5, 2015.
7. "Monte Carlo IPO Note". Angel One. 2014-12-01. Retrieved 2025-05-02.
8. "Monte Carlo to open 45-50 exclusive outlets in FY24". Economic Times CFO. Retrieved 2025-05-02.
9. "Monte Carlo to open 45-50 exclusive brand outlets in FY24, CFO sees good growth". ETCFO.com. cfo.economictimes.indiatimes.com. April 24, 2023.
10. "Monte Carlo experiences robust summer season bookings". CNBCTV18. cnbctv18.com. Aug 8, 2023.
11. "Monte Carlo Ludhiana: Revitalising Architectural Grandeur by TOD Design Innovations". Commercial Design India. Retrieved 4 August 2025.

External links

• Official website