Ludhiana-based leading fashion brand Monte Carlo Fashions is geared-up to open 45-50 EBOs in the current fiscal. Currently, the company has around 356 EBOs. As the company goes on Franchise-Owned-Franchise-Operated (FOFO) model, no major capex is required.
In the last fiscal, the company surpassed its yearly guidance of opening 40-45 new EBOs, by opening 47 such outlets.
RK Sharma, CFO of the company said that the brand expects “good growth” prospects for FY24 hoping for no major market disruptions.
Also Read: Monte Carlo Fashions expands in home furnishing
In FY23, Monte Carlo’s business grew by 22 per cent over FY22 to approximately Rs 1,100 crore.
The company has recently implemented SAP S4 HANA with SAP CAR (Customer Activity Repository) so it has the latest version of SAP ERP with Artificial Intelligence and Machine Learning in vendor invoice management and various dashboards in SAC (SAP Analytical Cloud) for customer behaviour and product trend in the market.
This will help the brand to focus on its weak areas and identify its strong points which will ultimately help in the business growth.
