The 'Oswal' Factor(Y)

She joined Monte Carlo after being married for a decade, and ever since, she has been instrumental in making the apparel brand a household fashion name in India.

Ahmad Shariq Khan | March 2016 Issue | The Dollar Business

Monica Oswal, Executive Director, Monte Carlo Fashions Ltd.

She's one lady who strongly believes in homework and slowly testing the waters before committing to anything big. It's this attitude that has helped Monte Carlo, a household name in Indian apparel segment, attain the heights. Monica Oswal believes what she has to believe; and often, she's right!

She says that she always had a keen interest in the business and was part of many-a-major business decision since she was past her teens. However, it was only in 2004, after being married for 10 years, when she formally joined as an Executive Director at Monte Carlo Fashions Ltd. "I believe that destiny plays a vital role. Genes do too,” says she. Her role at the company today encompasses brand strategy building process, right from the creation of ad campaigns to their final execution, overall planning and decisions related to the media mix. It's her hard work that today the brand is available through different channels – more than 200 exclusive brand outlets, over 1,300 multi-brand outlets and more than 60 large format stores across India apart from having a prominent presence on several e-commerce platforms. From a large city like Chennai in the south, to a small hamlet in the north like Una (HP), you'll find many garment brands missing in the clutter; but not Monte Carlo! That's the Monica magic that's been woven for decades now. And she's already planning of moving into markets beyond India. And mind you! Her plans seldom go wrong.

TDB: What were the lessons you learnt from your overseas market outreach experience?

Monica Oswal (MO): The overseas market is very dynamic. You always have to be on your toes and stay updated about the local policies and politics, EXIM duties, norms and tax situation prevalent there. I would suggest that a budding exporter should conduct a proper due diligence of the market before exploring the business opportunities in that market.

TDB: Your firm imports raw materials. What's the basis?

MO: On the basis of specific requirements of our production units, we procure raw material from various sources and markets. We do import wool and other fabrics.

TDB: What policy hurdles do you face when it comes to imports and exports?

MO: I think policy hurdles are not there as such, but yes the duties and taxes can be made more industry-friendly. This will help in manufacturing better quality products at reduced costs, which in turn will help us counter competition across international markets.

TDB: If given a chance to diversify your product offerings, what other products would you venture into?

MO: Being in the fashion industry, if we ever get such a chance, we would like to diversify along the same lines of our existing business, and that's fashion wear. For us, fashion is a never ending phenomenon. One has to continue to explore newer styles, trends, patterns and cuts to meet the ever-changing customers’ expectations. It's a dynamic industry.

Next Page: A Cut Above Perfection