How many of you would be utterly SURPRISED if you come to know that Monte Carlo Fashions Ltd (MC) is headquartered in LUDHIANA? Almost all. Why? Because MC has created a brand that is sophisticated, premium and definitely looks “foreign”. It doesn’t feel like an Indian brand. Why so? Be it the fabric, quality, stores, garments, and physical evidence, everything is classy!
Moreover, when it comes to marketing, MC just knows how to weave magics. Be it advertisements, or hoardings MC gets all shot at exquisite locations nestled in the Alps featuring European artists with defined jawline wearing fashions of tomorrow. In a way, MC is not just a company. It is an Indian brand that people ‘feel’ it.
To know more on how MC could create an ICONIC brand, Mr. Shibananda Dash, CEO of Ludhiana Angels Network, went to meet Shri Sandeep Jain, ED of Monte Carlo at his office. Here are the sneak peeks to the interview.
1. Why an Indian Brand is named as Monte Carlo, a place in Italy?
In 1970s, Monte Carlo was an epitome of fashion. Be it quality, or creativity Monte Carlo was the melting point of technology, fashion, art and culture. We wanted to imbibe the same philosophy at an affordable pricing.
2. Why in Ludhiana? Wasn’t it an impediment?
Ludhiana was always famous for its textile industry. You get quality designers and workforce at an inexpensive rate. Conversely, infrastructure is not up to the mark. We don’t have quality airports.
3. Who is your Target audience?
Anyone and everyone who wants to wear fashionable garments. The pricing is such that upper middle class can afford it, lower class find it desirable to have one and upper class doesn’t mind owning one.
4. Please tell me about the parent companies?
Vardhaman, Nahar Group and Oswal are all families.
5. Why MC uses foreign locations and foreign artists?
MC signifies world class fashion. We want to bring the same fashion quality as available in Italy at Indian pricing in India.
6. On new startups entering fashion domain?
There is opportunity to learn & to collaborate. This is a good thing to have as youth enters with fresh ideas.
7. What is the first thing you look in a startup?
Idea. It has to be out of the box. You can’t do the same thing and expect to be a winner. Then comes leadership.
8. Why most Indians are not innovative?
We don’t try to be different, but you can’t win by being someone. You have to be different.
9. Do you invest in Startups?
Personally, No. But the family office invests in AIFs that does invest in startups
10. What is important: a formal degree or street smartness?
Street smartness any day. You don’t see degree holders coming up with world class startups. However, knowledge of new Technology is a MUST.
