About the Company
The company was incorporated on July 1, 2008 in Ludhiana, Punjab, under the Companies Act, 1956, as amended (the “Companies Act 1956”) as a public limited company under the name ‘Monte Carlo Fashions Limited’ with the Registrar of Companies of Punjab, Chandigarh and Himachal Pradesh. Initially the ‘Monte Carlo’ brand was launched by OWML, which was engaged in spinning of woollen, cotton and other blended yarns, weaving denim fabric and manufacture of apparel. With effect from April 1, 2011, the woollen and cotton apparel business of OWML under the brand ‘Monte Carlo’ was demerged into the Company.
The company operates two manufacturing facilities in Ludhiana, Punjab, one for its woollen apparel products and one for its cotton apparel products. The manufacturing facilities include facilities for product development, a design studio and sampling infrastructure. Almost all its woollen knitted products are manufactured in- house at its manufacturing facility. It also recently commenced in-house manufacturing of some of its cotton t-shirts and thermals in April 2014. For the remaining cotton and cotton-blended products, it follows an asset-light model by outsourcing the production to a network of third-party manufacturers, also known as job work entities.
It offers a comprehensive line of woollen, cotton and cotton-blended knitted and woven apparel under the ‘Monte Carlo’ brand in addition to its kids apparel. Its apparel products can be divided into three primary categories based -(i) woollen apparel, (ii) cotton and cotton blended apparel and (iii) kids apparel. Additionally, it also distributes home furnishings products which include mink blankets, bed sheets and quilts. The home furnishing products are also outsourced from a network of job work entities. The woollen knitted products include sweaters, cardigans, woollen caps and mufflers and thermals, while the woven woollen apparel products include woollen and cashmere shawls, stoles, woollen jackets and blazers. The cotton knitted apparel products include t-shirts, sweat shirts, track suits and cotton thermals. The kids apparel include sweaters, cardigans, shirts, t-shirts and bottoms.
The company introduced home furnishing products under the ‘Monte Carlo’ brand in fiscal 2013 and it follows an asset light model for its home furnishing products as well. It outsources the manufacturing of these products to a network of job work entities primarily in China. Once the finished products are ready, it buy them from the job work entities.Widening its horizons, the Company also gained ground in the production and supply of accessories like ties, belts, socks.
|Monte Carlo Fashions Ltd.
|Jawahar Lal Oswal