Apparel brand Monte Carlo Fashions Ltd has registered a 39 per cent drop in its net profit to US $ 0.95 million for the September quarter in comparison to US $ 1.53 million made in the previous year’s September quarter.
The current quarter’s (Q3) revenue witnessed a rise of 3 per cent to US $ 26.04 million in comparison to the previous year’s Q3 which stood at US $ 25.09 million. In the current quarter, the brand also launched its exclusive segments like Rock it, Cloak & Decker and its home textiles range.
The company shared a statement which said that the online segment’s sales have picked positive results. They have also made tie-ups with quick-commerce brands like Blinkit, Swiggy and Zepto to enable ’30-min’ delivery for items. The company also collaborated with Sales Force Inc. so that operational efficiency could be enhanced and streamlined and drive customer loyalty and experience.
In addition to this, Monte Carlo has also revealed their expansion plans of launching nearly 45-50 exclusive brand outlets (EBOs) across the country in the west and south regions.
Monte Carlo Fashions offers its brands through a diverse distribution network, encompassing EBOs, multi-brand stores, national retail chains, and prominent e-commerce platforms like Amazon, Flipkart, and Myntra.
