Monte Carlo Fashions is scaling back opening of its exclusive brand outlets (EBOs) to 30 by FY17 as against the earlier plan of 50 due to economic slowdown.
The company operates 226 outlets across the country and sells its products through 1,500 multi-brand outlets such as Shoppers Stop. It will open five stores in the ongoing fiscal and 25 outlets in next financial year. “At the time of IPO in December 2014, we had indicated that we will have 275 EBOs by FY’17. However, due to economic slowdown, we will expand at a slower pace than we had earlier planned. We plan to open 30 EBOs by fiscal 2017,” Monte Carlo Fashions Executive Director Sandeep Jain told PTI.