Project Report

On

Study of brand perceptions for Monte Carlo

Submitted to Punjab University In partial fulfillment of the requirements for the Degree of

Bachelors of Business Administration (BBA) 2008-09

Submitted to: Submitted by:Mrs. Pooja Mittal Rahul JoshiLect. in Business Admn. 15106000161

Kamala Lohtia Sanatan Dharam College

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Ludhiana

Ludhiana-141003

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This is to certify that the project work done on “Study of brand perception for

Monte Carlo” submitted to Kamala Lohtia Sanatan Dharam College, Ludhiana

by Rahul Joshi in partial fulfillment of the requirement for the award of degree

of Bachelors Of Business Administration, is a bonafide work carried out by him

under my supervision & guidance. This work has not been submitted anywhere

else for any other degree /diploma. The original work was carried during 10 th Jan

to 6th Feb 2009 in Oswal Woolen Mills Ltd, Sherpur road, Ludhiana.

06.02.2009

Mr. Pankaj Kumar General Manager- Retail Operation

Oswal Woolen Mills Ltd. G.T.Road, Near Sherpur Chowk Ludhiana-141003

Certificate

Guidance certificate

Mrs. Pooja Mittal gave the guidance without which this study wouldn’t have been possible to

complete in the stipulated time & the most efficient manner. Her time to time introspection was

just as a lightening a lamp which enlightened the total darkness of the mind & thoughts. She

motivated in true spirit & I express my gratitude for the same.

Rahul Joshi

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PREFACE

In an institute a student learns about theoretical concepts.

But in this changing era scenario, environment surrounding the business is complex &

dynamic. Industries are so much diversified & specialized that it requires managers to be fully

nourished with knowledge & skills in their respective field of the specialization. Exposure is

the key in building good future managers.

The report presented here is a study of brand perception for Monte Carlo products. Monte

Carlo is one of the leading super brands in exclusive woolen hosiery garments. It is the first

domestic company in the country to receive prestigious ISO-9001:2000 certifications in

designing knitwear, manufacturing & supplying category.

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ACKNOWLEDGEMENT

Every endeavor undertaken to accomplish challenging goals, can only be successful under the

experience and encouraging guidance.

I take the profound privilege to express most sincere gratitude & indebtness to all those who

provided me the opportunity to do the project in their esteemed organization. I owe debt of

gratitude for them for the valuable guidance in the course of my project study. It has been

an immense pleasure and enlightening to work under them for their timely assistance &

valuable suggestion through fruitful discussions.

My inexpressible gratitude is to the supreme guide who enables me to

bring up my ideas into the concrete forms. I express my sincerest thanks to Mrs. Pooja

Mittal for inspiring me in the development of my project.

I sincerely express my sincere gratitude to Mr. Rajesh Marwaha my faculty

guide who gave me the guidance and supervision throughout my project. I will be grateful

to my seniors for their suggestions for further improvement.

Rahul Joshi

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Table of Contents

1) Introduction

2) Purpose of study

3) Objectives

4) Scope of study

5) History

6) Company profile

7) Research methodology

8) Observation & analysis

9) Interpretations

10) Conclusion

11) Limitations

12) Recommendations

13) Appendix

14) Bibliography

15) Appendix

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INTRODUCTION-LUDHIANA

Ludhiana is an important knitwear centre located in north state of Punjab. It has an area of

about 310 sq km with city area at over 160 sq km and industrial area at 140 sq km .The city

stands on the Satluj River’s old bank, 13 km south of its present course. Ludhiana City had a

population of 1,395,053.

Ludhiana is known as the "Manchester of India" because it is the industrial hub of Punjab.

There are 8 large integrated knitwear factories, roughly 6,000 small to medium sized knitwear

factories, 10 big hosiery yarn mills and 150 small- to medium-sized worsted and woolen yarns.

There are also firms manufacturing bicycles (Avon Bicycles, Hero Cycles Ltd), Eastman,

Trident group motorcycle parts, machine tools, sewing machines, generators, diesel engines,

tires & tubes, Ayurvedic Medicines and also other consumer goods. The export market in

Ludhiana is worth $40 million USD.

Ludhiana is becoming a hub of auto parts manufacturing. Ludhiana is home to world renowned

educational institutes Punjab Agriculture University, Guru Nanak Dev Engineering College,

Dayanand medical college, Christian medical college, Baba Jaswant Singh dental college and

multiple Engineering institutes.

Ludhiana City is famous for the textiles and woolen industry. City is known as the woolen hub

for all over India. Monte Carlo, Duke and OWM are one of the famous brand names in woolen.

Some share of its woolen production is exported to all over the world. Quality of textile and

woolen product manufactured in Ludhiana is world class. Besides Cycle and woolen industry,

Ludhiana is also a major centre for sewing machines and cast iron & for other foundry

materials. Due to its industry potential Ludhiana has a sweet blend of mixture of so many

Indian cultures.

History

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Knitwear industry

The word ‘knitwear’ is derived from the word ‘hose’ which means tubular that describes the

shape in which the fabric was knitted, especially for socks. The first Woolen knitwear unit was

probably established in the last decade of the nineteenth century (maybe 1894) in Ludhiana for

manufacturing socks. Woolen hosiery was born in 1902-03 with a socks unit to cater to

soldiers during world war -I & II.

Its origin can be traced to migrants from Kashmir, who settled in Ludhiana after a famine in

Kashmir in 1933. These migrants brought with them skill of weave fine woollen fabrics and

embroidery. Their skills were commercialized by the local traders

who sought markets within Punjab and beyond? In 1935, the industry saw its first change with

circular knitting machines introduced in the industry. They started manufacturing sweaters on

these machines with cotton used as raw material. The

Second turning point in the history of this cluster was the introduction of flat knitting machines

during 1940s and during the same period, the industry started importing

wool for manufacturing woolen products.

The Ludhiana knitwear industry cluster developed during the second world war, when the

woolen jerseys were in great demand. In 1947 the Muslim population that migrated to Pakistan

after partition, owned most of the machines so then the local

population and the immigrants from Pakistan sustained this industry. Trade grew smoothly for

next four decades.

Myanmar was a very important market for Ludhiana knitwear till the 1950 i.e. before

Myanmar Government imposed import restrictions. In the same year the Government of India

also imposed restriction on imports and most of the inputs i.e.

machines, needles etc at that time were being imported. The import restriction thus fostered

development of indigenous machine manufacturers, spinning mills etc. Before the breakup of

Russia into CIS, it was the largest market for the woolens in Ludhiana. The breaking up of

Russia forced Ludhiana to explore for new markets .During the period of 1980s; the industry

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saw another change with introduction of automatic and computerised knitting machines. The

disintegration of USSR in 1980 was a major debacle in Ludhiana market. The focus of exports

shifted from USSR to European Union, USA & Latin American countries, demanding shift in

the business entrepreneurship. The export to these countries demanded skilled human resource,

to maintain quality standards & timely delivery.

During 1981, the state government had set up a knitwear center with technical and financial

assistance from UNDP and UNIDO, housing the most modern technology and equipment. The

collapse of Russian market resulted in a major shakeout in the industry and several leading

manufacturers were forced out of business altogether. This paradigm shift eventually resulted

in Ludhiana becoming more of a cotton & summer wear manufacturing centre, while retaining

its dominance in the domestic woolen market.

Now there are almost 14000 units manufacturing knitwear and knitted garments .It has units

which are vertically integrated, ISO certifications, & units with wool mark certification. These

are capable of producing products worth of RS 400 million providing

employment to nearly 4, 00,000 persons. There are about 550 export oriented units which

manufacture products for the world famous brands like ADIDAS, NIKE,. The woollen hosiery

of Ludhiana caters to 90% of the total requirement of woollen products in the country. The

leading brands which originate from Ludhiana are MONTE CARLO, CASABLANCA, and

PRINGLE etc.

Ludhiana has seen an enormous industrial growth in the last 8 years due to significant

improvements in the law and order situation and a conducive atmosphere for industrial growth.

In order to attract the entrepreneurs to set industries, the State

Government is providing benefits such as industrial parks and industrial estates as focal points.

Although it is a highly labour intensive industry yet there is no systematic approach for

providing training to the work force.

The importance of the Ludhiana knitwear cluster is evident from the following facts:

There are about 12000 small-scale units in the Ludhiana cluster

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The total fixed investment in plant and machinery is Rs 300crores

Per capita investment in plant and machinery is Rs. 2.13 lakh

The cluster is producing products worth Rs 5000 crores in a year.

The cluster provides direct and indirect employment to nearly 5 lakh persons

Per capita employment is 28 persons

The value of exports is around Rs 1300crores

Knitwear exports from Ludhiana has been growing at the rate of 25% since 1995

Its share in total garment exports from India is around 3%

More than 90% of woolen knitwear production of the country is from Ludhiana

This sector comprises of some big organised composite manufacturers like Oswal Woollen

Mills, Oswal Knit India (Pringle), Greatway, R N Oswal, Pee Jay International etc. that have a

capacity of 0.5 – 1.0 million pieces each. The small-scale units are engaged in various

activities like spinning of yarn, dyeing and processing of yarn & fabric, knitting, cutting,

button holing button stitching, washing and dry cleaning and label manufacturing.

The deep rooted knitwear industry in Ludhiana consists of both circular and flat bed knitting

capacity. Structured knits, jacquards and fancy knits are especially from this centre. Auto

stripers, velour & feeder stripers are other available options. Cotton, acrylics, rayon blends &

woolen knitwear production is facilitated by an easy access to yarn production in the same

region. The overall technological status is very low barring a few enterprises. The machinery

and equipments are locally manufactured and are low in efficiency and quality. The dyeing and

finishing technology is highly polluting and consumes high amounts of energy and water.

The knitwear industry of Ludhiana which has emerged as the largest self-sufficient sector in

itself and has a huge potential of maturing into an eminent industrial name. Considering the

size and potential of the Ludhiana knitwear industry, it can be

safely said that it will have a significant role to play in the changing global trading

environment. It is therefore high time for the industry to become globally competitive and to

make concentrated efforts.

Hosiery industry of Ludhiana

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Ludhiana is a leading industrial town of the north Indian State of Punjab and an important

center of textile and allied industry. More or less it accounts for about 21 percent of all

industrial units and over 28% of the industrial output of the State of Punjab. It is famous for

Bicycle & bicycle components industries, ready-made garments, hosiery items, sewing

machines and parts & machine tools.

Ludhiana is a leading producer of woolen and acrylic knitwear, although it also uses

extensively cotton and other blended fibers to produce a wide range of fabrics, hosiery,

knitwear and ready-made garments. The industry caters largely to the domestic market,

although it has also been exporting for nearly a century. Consisting of both registered and

unregistered units, almost 99% of the ready-made garments, textiles and hosiery industry in

Ludhiana are small scale. Apart from these, there are a large number of ancillary and

supporting units that manufacture packing material, printed labels, buttons, etc as also

Spinning, Dyeing and Embroidery units.

Historically, the domestic market has been the main consumer of textile and garment industry’s

products and it has been growing significantly in recent years as income levels among India’s

middle class go up and fashion conscious young adult consumers increase. Exports from

Ludhiana based garment and hosiery units have generally been around 10% of the total

production. Main export markets – till early 1990s, it was former USSR and Middle East and

now in recent years it has expanded to other markets in Europe and USA. Punjab exported

ready-made garments and hosiery worth about Rs. 1312 crores in the year 2004, which went up

to Rs. 1618 crores by March 2005.

Features of textile industry

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The textiles, hosiery & readymade garments manufacturing can be divided into two groups –

hosiery & ready-made garments & textiles. The hosiery and garments sector is much more

labour intensive, small scale, employing 5-40 workers per unit. One of the reasons for this is

the methods of production and machinery used which is largely manual operated.

Most of the units (in hosiery, garments, dyeing or embroidery sector) are located in the

residential areas. Only some large units are based in the Government promoted industrial

estates. Most firms are owner-proprietor managed rather than professionally managed.

Working hours in the factories generally are for 10-12 hours a day, 6 days a week. Majority of

the industry is producing low value items, with low productivity and low quality generally,

using traditional, locally manufactured and fabricated machinery.

Main machinery used are – hand flat knitting machines, circular knitting machines and

imported reconditioned knitting machines (second had machines); Knitwear is stitched on

multi-thread lock-stitch, chain lock, flat-lock and over-lock machines which are either

manufactured domestically or imported.The industry uses both natural fibres/yarns – cotton,

silk, jute & wool and man made fibres such as polyester, viscose, nylon, acrylic and blended

fibres. Proper blended yarn of the required quality is often not available at reasonable price.

The industry produces wide range of winter and summer wear - T-Shirts, Pullovers, Cardigans

in all blends, Jogging suits, Socks, Jersey, Gloves, Shawls, Sweat Shirts, other inner wear, grey

fabric, etc. Ludhiana also supplies fabric to units in Tirupur and other garment centers.It

appears that Ludhiana’s industry does not have its own designing facilities and neither does it

employ computer-aided designing/manufacturing. Designs for clothes for the domestic market

are generally copied from the magazines, etc or samples provided by the buyers. Embroidery,

patchwork, printing and beadwork are done with indigenous machinery and the quality of

embroidery is not up to the standards acceptable in international markets.

Analysis of Business operations

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Product

The Ludhiana knitwear industry is a well-diversified industry. Product-wise it can be divided

into two main sectors i.e. summer wear and winter wear. The main product for winter wear are

sweaters, woolen socks, pullovers, cardigans, thermal wear, gloves, muffler, baret caps,

shawls, jackets, jersey, and blankets, while for the summer wear the main product are T-shirts,

cotton and blended socks, under garments, knitted bed sheet, knitted skirts, knitted tops, sports

wear, night suits etc.

Semiformal knitted made from double mercerized cottons blended with viscose and bed linen

made for summer wear also fall into product basket of the Ludhiana cluster.

Raw material

Most of the raw material is locally available. Cotton, Wool, Acrylic, Polyester, Nylon and

Viscose is the main raw material used in the knitwear industry.Cotton is available in

abundance.But due to poor quality of Indian wool, generally the pure wool is imported from

Australia, New Zealand or South Africa. Other synthetic fibres like Acrylic, Polyester, Nylon

and Viscose are available indigenously.

Machines

Ludhiana has about 4000 circular knitting machines out of which 1500 are fully automatic.

There are about 500 flat computerized, 120 fully fashion and 50 to 60 thousand hand flat

knitting machines.

Workforce

The Ludhiana knitwear industry is highly labour-intensive. It is estimated that the Industry has

employed 5lakh persons. Out of which, more then 2lakh are employed indirectly. Technical

workforce is available but technical inputs are given by the entrepreneur themselves who have

practical industry experience and better knowledge gained by secondary sources. This is the

reason why training levels are negligible in the cluster. The salary levels are low and despite

the availability of professionals, their employment is very limited. There is a lack of

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professional attitude amongst the managers and is being taken care of by unit level training

programmes.

Designing

Professionally qualified as well as experienced designers are available in the industry. Local

institutes like Pinnacle, JD Institute and NIFD are serving the industry actively. But still

Ludhiana is lacking in new designs because of no efforts being put on research & development.

The big ones, who are interested in keeping themselves with latest trends visit nearby countries

like Hong-Kong and Singapore to pick up some of the latest available samples. These are then

modified to suit the needs of domestic market as well as that of some developing countries for

exports.

Infrastructure

Ludhiana is very poor as far as infrastructure facilities are concerned. The only airport, which

is near to Ludhiana is not functional at the moment and it is required to increase its status from

domestic to international airport.

Finance

Most of the units are financially independent with a strong base. Loans are easily available

from banks and other financial institutions but preference is given to private financiers who

provide loans at a higher rate. This is largely to hide the illegal business transactions.

Marketing

Marketing is a very weak feature of the Ludhiana cluster. There are a few firms who are selling

directly through their own retail outlets such as Duke, Sport king or through marketing

channels such as Monte Carlo, Pringle, Neva etc.

Domestic market

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Ludhiana knitwear industry is doing Rs.3629 crores business in the domestic market. 95%

domestic demand for woolen knitwear is fulfilled by the Ludhiana cluster alone. The main

markets for Ludhiana knitwear industry are high-end domestic markets in Delhi, Ahmedabad,

Mumbai, Lucknow and Kanpur.

Export market

The global knitwear market is of about 200 billion USD. Export of knitwear from Ludhiana is

of about Rs.1371 crores. The main foreign markets for Ludhiana knitwear industry are the high

quality conscious Americans, Europeans and the market of the CIS countries. An important

feature of the knitwear export from Ludhiana is that almost 90% of export is carried out by the

manufacturer exporters.

Role of marketing agents

Marketing agents are basically catering to the requirements of the domestic markets, both high-

end and low-end middle-income segments. They provide two kinds of important services to the

entrepreneurs; firstly they source orders from distant buyers and secondly they serve as a

guarantor of the buyer for the manufactures. They are responsible for collection of money from

the buyers after expiry of credit limit.

Decentralized sector

The knitwear industry in Ludhiana is highly decentralized & varies in size.The small knitwear

units are located in residential areas around Sunder Nagar, Shivpuri, Purana Bazar.The

medium and large units are generally located in the outskirts of Ludhiana in the Industrial

Area, Focal Point, and Chandigarh road. Most of the units are based in the residential areas

converted into commercial places.

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IntroductionOswal Woollen Mills Limited

A flagship company of the glorious Rs.2000 crore industrial conglomerates NAHAR group, under the dynamic leadership of SHRI JAWAHAR LAL OSWAL.

Oswal Woollen Mills Limited (OWM), the flagship company of the Nahar Group of

Companies was incorporated in 1949 and is a part of Rs.19, 000 million well known industrial

conglomerates Nahar Group which also consists of Nahar Spinning Ltd, Nahar Industrial

Enterprises Limited, Nahar Exports Ltd and Nahar Capital & Financial Services Limited based

at Ludhiana in Punjab. The Group is one of the oldest and well-recognized business houses in

India.

The Company is one of the pioneers in the organized Indian woollen hosiery industry. OWM

made modest beginning as a manufacturer of hosiery items and over the years has emerged as a

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vertically integrated woollen textile company having presence in diverse markets, with wide

range of products including branded woollen hosiery and cotton garments.

OWM is the registered owner of well-known brand name 'Monte Carlo' for selling woollen

hosiery and cotton garments which was added to the existing product portfolio in the year

2002. International Society for Super brands has recognized 'Monte Carlo' as a 'SUPER

BRAND' for woolen hosiery garments since fiscal 2003. The products in woolen hosiery

segment are also sold under the brand names of 'Canterbury' for premium quality woollen

hosiery garments while the specialty worsted woolen yarns and hand knitting yarns are sold

under the brand name of 'OWM'. Since March 2006, the company has started manufacture of

indigo dyed specialty denim fabric, which has added to the existing range of rich product

portfolios.

The Company has been certified to conform to the QMS Standard: ISO 9001:2000 by DNV

Certification B.V., Netherlands for the manufacture and supply of dyed and grey tops and yarn

in worsted wool, pure wool, lamb wool, acrylic wool blends and polyester wool blends and

angora, berthia and serge fabrics.

The Company endeavors to strengthen its position in the in the retail sector and it plans to

further augment its existing reach of 'Monte Carlo Exclusive Brand Outlets' by opening

additional 106 outlets by Fiscal 2009 from the existing 44 outlets as of now. Further, OWM is

contemplating selling denim fabrics to ready-made denim garment manufactures in domestic

and international market. From 2007 autumn and winter season, The Company would start

production and marketing of fine micron pure merino blended knitted products for children in

the age group of one to eight years for the Indian domestic market.

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Nahar GroupAt NAHAR, “Excellence is always an

Ongoing journey- never destination.”

In 1949,a humble beginning was made under the foresight of Lala Vidya Sagar Ji, with

spinning capacity of 800 spindles; manufacturing simple hosiery items.

Oswal Woolen Mills NAHAR GROUP established in 1949 surges ahead to establish it self

as a reputed industrial conglomerate with a wide ranging portfolio from Worsted Spinning,

Cotton Knitted, and Cotton Woven Garments, Woollen Hosiery Etc.

The group has spinning capacity of 0.4 millions cotton spindles 25000 worsted spindles with

turn over of $500 million inclusive of export turnover of $150 million. Out of total

production, 60% of the production is dedicated to exports and the rest 40% for

domestic market. The production facility has been awarded ISO 9001:2000.

Today OWM is the flagship company of the glorious Nahar Empire and a proud owner of

widely loved Super Brand in Knitwear, Monte Carlo and Recognized Super Brand

Canterbury. The company boasts of a product portfolio that is truly large and varied. They

include diverse types of Woollen, Acrylic and Synthetic Blended Yarns, Lambs Wool Yarn.

The markets of NAHAR GROUP are cris crossed allover the globe with major clientele in

Australia, New Zealand, Europe, Middle East, Africa, Russia and Asia. The objective is

meeting the buyers expectations with consistent quality backed by R & D divisions equipped

with latest equipment, Cream of highly qualified technocrats and adhering to timely schedules.

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OWM-A mark of integrity

Today Oswal Woolen Mills LTD. is a company that owes its strength in the market and

solidity to foresight of its chairman Sh. Jawahar Lal Oswal, the professional inputs of the

board of directors and able to team of highly skilled mangers Oswal woollen mills is the

flagship company of over US$500 millions NAHAR GROUP OF COMPANIES.

Oswal Woollen Mills (OWM) is the flagship company of the Rs 2,000 crore Nahar Group,

which is an industrial conglomerate with a diversified portfolio that includes spinning,

knitting, fabric processing, hosiery garments, knitwear and infrastructure. Starting off as a

small hosiery factory in Ludhiana in 1949. It produces a wide range of products, which

include diverse type of woollen acrylic, synthetic blend yarns, lamb wool yarn, woollen

viscose and acrylic tops, textile fabric, woollen hosiery, thermals, knitwear and cotton

Garments.

The Company’s infrastructural base includes six factories with a workforce of 10,000

people. OWM has recently become the first domestic company in the country to receive the

prestigious ISO- 9001-2000 certification in the designing, knitwear, manufacturing and

supplying category.

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Brands offered by

OWM

Monte Carlo- super brand in exclusive woollen hosiery garments.

Canterbury- premium quality woollen hosiery garments.

OWM- worsted woollen yarns & hand knitting yarns.

Achievements

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It is the first domestic company in the country to receive the prestigious ISO-

9001:2000 certification in the designing knitwear, manufacturing and supplying

category.

First domestic company in India to deploy SAP solutions in retail sector.

Oswal Spinning Mills

(Garment manufacturer)

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Oswal Woollen Mills NAHAR GROUP, established in 1949 surges ahead to establish it self as

a reputed industrial conglomerate with a wide ranging portfolio from Spinning, Knitting,

Fabric, Hosiery Garments etc. Out of total production, 60% of the production is dedicated to

exports and the rest 40% for domestic market.

The production facility has been awarded ISO 9001:2000. OWM is the flagship company of

the glorious Oswal Empire and a proud owner of widely loved Super Brands in Knitwear,

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Monte Carlo and Canterbury. The company boasts of a product range that is truly large and

varied. They include diverse types of Woollen, Acrylic and Synthetic Blended Yarns, Lambs

Wool Yarn, Woollen Viscose & Acrylic Tops, Textile Fabric, Woollen Knitwear, Hosiery &

Cotton Garments.

The knitting industry in India can be classified into following groups:

Hosiery knitting for undergarments

Flat knitting for sweaters and winter garments

Socks knitting for socks and stockings

Warp knitting for dresses, furnishings and industrial applications

In the recent times, knitting sector has undergone enormous modifications that have

resulted in an increase in efficiency, ease of operations, use of computer aided designing etc.

The various reasons for the growth of knitting industry are as follows:

The capital investment for starting a new knitting unit is relatively small than that required

for other fabric producing industries. High productivity and very low preparatory process

as compared to weaving. More flexible and easy changeover of styles and designs to keep

up with the frequent fashion changes in apparel market. Knitted fabrics are comfortable and

are in tune with the time. Knitwear doesn’t require ironing and thus it gives people a

carefree feeling while traveling etc.

Significance of knitwearIn

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garment industry

The survival of knitwear industry depends on the survival of the garment industry. At present,

the knitwear industry has only 43% share in volume of garment industry but the same is

increasing at a very fast rate due to the comfort properties of knitted garments. As on 1January,

2002, there were 50,000 units in India engaged in garment manufacturing, of which 9600 were

in the knitted sector and 40,400 in the woven sector.

MONTE CARLO---“The way you make me feel”

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Branding done in 1984.

International society for Super brands has recognized ‘Monte Carlo’ as a Super brand

for woollen hosiery items.

The best exhibited product from the International Wool Secretariat.

Ranked as number one woollen brand in the country by a survey conducted by Images

–ORG-MARG.

E.B.O.’s- Exclusive Brand Outlets- 65

M.B.O.’s-Multi Brand Outlets- 65

Product portfolio

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Men’s Fashion -

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Shirts & Trousers

T-shirts

Pullovers & Cardigans

Jackets & Formal coats

Tracksuits

Thermals

Mufflers & Caps

Lowers & shorts

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Women’s Fashion -

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Pullovers & Cardigans

Jackets & Formal coats

Tracksuits

Thermals

Mufflers & Caps

Lowers & shorts

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Children’s Fashion

Sweaters

Thermals

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MC in India

Monte Carlo India - Mens Fashion, Formal Office & Fashion Shirts, T-shirts, Jackets,

Womens Cardigans & Sweaters

Over the years, Monte Carlo has established itself as a brand name trusted world-wide for its

excellence in quality and eminence. Some of our products include sweaters, cardigans,

cardigan sweaters, Mens pullovers, T-shirts, trouser, shorts, Womens cardigan sweaters &

womens sweater.

All our clothes are designed in a manner to give our customers the ultimate feeling of comfort

and ecstasy. Our collections also includes a wide range of thermals and track suits India.

In our compilation of exquisite clothing and qualitative attires we have variety of jackets like

Womens jackets, sleeveless jackets, Mens jackets & Shirts like fashion shirts, formal shirts,

office shirts & wholesale shirts etc.

“Dress up by the ways of world & eat what you please”

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Canterbury

Monte Carlo’s Canterbury is a premium brand that delivers elegance, soft luxury and creativity

in intrinsic patterns and styles for those who settle for nothing but the best. The collection

liberally uses superior quality of pure cash wool in fine count of eighteen micron. This makes

the woollens lightweight and extremely warm. These garments have an excellent hand feel,

drape gracefully and fit perfectly on all body types. The Canterbury  collection this season

has introduced pullovers and cardigans in 100 % pure cashmere wool for both men and

women.

 The exciting Canterbury range has exclusive designs that come in unique colour combinations.

The designs comprises of intarsia - classic argyles (diamonds shapes) and

patterns of checks. Single colour self structure with links and transfers. The collection is

available in fusion of urban neutral colours with a predominance of shades in blues, in

evergreen greys, the elegance of beiges and brown, dull blues and the bright hues of turquoise.

The fall winter 2006-07 collection has more than seventy designs on offer forits customers.

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“Exclusively knitted from pure imported from Australia, fine micron-19.5, elite design and incredibly warm.”

Life Unbound

Lush green fields glistening with hope. Vibrant flowers blushing in love. Trees throwing up

their winding arms in joy. As a soft breeze hums a soulful melody. And chattering birds liven

up the world. Rejoice! Summers are here!

Shed the many layers that restrained your free spirit. The shriveled and shivering winter

months are history. Say hello to bright, cheerful days. Say hello to the liveliest of hues. Say

hello to the season of gay abandon. Say hello to the season of the sun.

Life is born anew. And it’s going to have a blast. Join the fun, add to the colours of the season

and let your hair down. Reach out to the world and become a part of the celebrations. With the

cool new Spring Summer collection of Monte Carlo. Clothes that breathe. Clothes that weave a

story. Clothes that let you be free. So live your life to the lees. Because now is when all the

fetters are broken and free of all cares, life blossoms.

And this is your chance to catch life unbound!

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Monte Carlo Winter Collection 07

Let us love winter, for it is the spring of genius

Like the warmth of the winter sun,

The closeness with that loved one,

The comfort of being secure,

In love with life…

Presenting the Monte Carlo winter collection. A delightful collection of pullovers, cardigans

and jackets. Designed to perfection, feel the warmth of pure wool designs. Crafted with care,

the Monte Carlo winter collection. For love is a beautiful winter that never ends…

Monte Carlo. It’s the way you make me feel

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Alpha

Women are a miracle of divine contradictions

Looks that kill

Eyes that tempt the sagest hearts

Every man’s fantasy

The Alpha woman… god’s own mystery masterpiece.

Presenting the Alpha woman collection from Monte Carlo. A scintillating collection of coats,

cardigans and pullovers. Designed to suit that woman who takes charge…

Outerwear

How glorious a greeting the sun gives the mountains!

Mother Nature. Touch her horizons. Explore the landscapes. In style. Presenting the Monte

Carlo outerwear collection. An exciting new range of jackets, polos and sweatshirts. Trendy,

attractive, elegant and classy. A style for every occasion. Designed to make you feel one with

nature.

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Monte Carlo Trousers

At Monte Carlo we offer more:

A perfect timeless look which shines you apart from the crowd. A perfect blend of premium

fibers which gives the Monte Carlo trouser a uniqueness of its own.

In the season we present you a complete range of classy chinos, edgy linens, premium cotton

lends bio-polished for a peach skin finish will give an extra smooth feel. The enzyme and

silicon in these trousers makes the fabric extremely soft ideal and anti crush makes you feel

beginning the day even at the end. A complete gracious range which starts from Rs 725 – Rs

1495.

This season Monte Carlo has introduced its new OXY RICH Wrinkle free Chinos (trousers).

which is high D-P rating (Durable press) rating 4-5 with state of the art resin spray technology

treated with cellulose to give extra softness and lustre.

Bio polished for a soft and luxuriant hand feel anti crush to make the trouser look fresh after

wearing the whole day.

For sporty look there are multi pocket cargos with different washes. And the Cargo range for

men comprises of multi pocket cargos with detailing of snaps, Velcro’s and zippers. Garments

are treated with ultra enzyme wash and softeners to provide a trendy washed look and soft

hand to the garment to

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Wool used in MC

Body hair of sheep

Diameter of fibers expressed in microns

Lesser the microns, finer is the quality of wool

Other animal hair available- camel, angora, cashmere, mohair etc.

Symbol of purity- woolmark

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REVIEW OF LITERATURE

Stephen Bush (2008) Commercial borrowers sometimes overlook short-term options for

commercial loans. In the current recessionary conditions, it is wise to explore all working

capital management options. This article will shed some light on shorter-term choices such as

short-term commercial mortgages and business cash advances. Due to misunderstandings

about long-term commercial financing, short-term commercial loans are often not considered

properly. Although long-term commercial real estate financing options are often appropriate,

there are practical short-term business financing choices that will be more workable and

profitable for commercial borrowers. The most critical short-term commercial financing

techniques typically include short-term merchant cash advance and credit card processing

programs and commercial real estate loan programs. Both working capital funding approaches

are frequently a source of confusion for business owners.

Bebehuk L., and L. stole (2009) Working capital is the cash needed to carry on operations

during the cash conversion cycle, i.e. the days from paying for raw materials to collecting cash

from customers. Raw materials and operating supplies must be bought and stored to ensure

uninterrupted production. Wages, salaries, utility charges and other incidentals must be paid

for converting the materials into finished products. Customers must be allowed a credit period

that is standard in the business. Only at the end of this cycle does cash flow in again.

Allensius (2009) there will usually be only a few business financing sources that are regularly

successful at executing the credit card financing and processing. There are key difficulties to

avoid with a working capital advance, and selecting an effective funding source is essential to

an appropriate business cash advance program. A long-term commercial mortgage is

appropriate for many businesses that own commercial property. Commercial property should

be financed with an appropriate combination of short-term and long-term funding. It is wise to

consider long-term Business financing of up to 30 years when a longer-term commercial real

estate loan is feasible.

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Gamble, Richard H. (2005) Working capital management (WCM) is a holistic approach to

managing capital that can increase a company's cash flow and operational profits, but has yet to

receive widespread acceptance. WCM is unlike traditional cash management with its emphasis

on float and collection and disbursement programs. WCM addresses the full time-line from

raw material to payment, and strives to free capital wherever possible. Just-in-time inventory

management is a good example of WCM. WCM runs counter to the standard divisional lines

around which most companies are organized; its acceptance may increase, however, as US

businesses strive to become more efficient and competitive, and as financial professionals

grow, learn, and assume greater responsibilities for their companies' futures.

Dittmar, A. and J. Mahrt, 2005 Working capital management is important part in firm

financial management decision. An optimal working capital management is expected to

contribute positively to the creation of firm value. To reach optimal working capital

management firm manager should control the tradeoff between profitability and liquidity

accurately. The purpose of this study is to investigate the relationship between working capital

management and firm profitability. Cash conversion cycle is used as measure of working

capital management. This study is used panel data of 1628 firm-year for the period of 1996-

2006 that consist of six different economic sectors which are listed in Bursa Malaysia. The

coefficient results of Pooled OLS regression analysis provide a strong negative significant

relationship between cash conversion cycle and firm profitability. This reveals that reducing

cash conversion period results to profitability increase. Thus, in purpose to create shareholder

value, firm manager should concern on shorten of cash conversion cycle till accomplish

optimal level.

Beneda, Nancy, Zhang, Yilei 2006 the current study contributes to the literature by examining

impact of working capital management on the operating performance and growth of new

public companies. The study also sheds light on the relationship of working capital with debt

level, firm risk, and industry. Using a sample of initial public offerings (IPO's), the study finds

a significant positive association between higher levels of accounts receivable and operating

performance. The study further finds that maintaining control (i.e. lower amounts) over levels

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of cash and securities, inventory, fixed assets, and accounts payables appears to be associated

with higher operating performance, as well. We find that IPO firms which are experiencing

unusually high growth tend not to perform as well as those with low to moderate growth.

Further firms which are experiencing high growth tend to hold higher levels of cash and

securities, inventory, fixed assets, and accounts payables. These findings tend to suggest that

firms are willing to sacrifice performance (accept low or negative operating returns) to increase

their growth levels. The higher level of growth is also associated with higher operating and

financial risk. The findings of this study suggest that perhaps IPO firms should stay more

focused on their operating performance than on maintaining high growth levels.

James Michael Wahlen 08 In this paper we review the academic evidence on earnings

management and its implications for accounting standard setters and regulators. We structure

our review around questions likely to be of interest to standard setters. Specifically, we review

the empirical evidence on which particular accruals are used to manage earnings, the

magnitude and frequency of any earnings management, and whether earnings management

affects resource allocation in the economy. Our review identifies a number of important

opportunities for future research on earnings management.

D'Attilio, David F. Net working capital forecasts play a vital role in cash flow projections.

Care should be taken to create accurate projections of net workingcapital, defined as current

assets minus current liabilities, by avoiding errors in financial data. Analysis reveals that small

differences in asset/liability reports can cause significant distortions in working capital

forecasts. In order to achieve reliable forecasts, it is necessary to adopt a combination of macro

and micro approaches which have been proven to produce reasonably accurate data.

Neung Kim, Kyungho Kim The three best macro-economic indicators for 24 various

industries are identified using E.I. Altman's Z-score. The Altman's Z-score is used to measure

overall business financial conditions. These are the prime bank rate, the three-month US

Treasury Bill rate and the corporate AAA bond rate. The three variables are found to be

relevant predictors for business financial conditions since they have highly negative

correlations with Z-scores.

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NEED FOR STUDY

The basic need for the study is to get practical experience about the functional abilities of the

organization. The different stages as discussed in the study reveals that the organization needs

more organized & professional people at all levels to get better results. Although the

establishment has a big name but the environment was not upto international standards which

is the need of modern era for any professional organization that is possible only when the

organization has professionally qualified staff.

OBJECTIVES OF STUDY

To study the awareness about the brand Monte Carlo.

To know the tastes & preferences of consumer regarding the style, quality & design of

Monte Carlo products.

To study the brand perceptions for Monte Carlo.

To analyse the satisfaction level of consumers offered by Monte Carlo.

To know consumers expectations from Monte Carlo products.

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SCOPE OF OBJECTIVES

Since the organization has the ability to compete international market so it needs more

scientific system to achieve that goal & the basic objective should be to follow the

international standard which can be achieved through qualified professionals making quality

management system.

RESEARCH METHODOLOGY

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The word Research is derived from the Latin word meaning to know. It is a systematic and a

replicable process which identifies and defines problems, within specified boundaries. It

employs well designed method to collect the data and analyses the results. It disseminates the

findings to contribute to generalize able knowledge.

Methodology can properly refer to the theoretical analysis of the methods appropriate to a field

of study or to the body of methods and principles particular to a branch of knowledge. In this

sense, one may speak of objections to the methodology of a geographic survey (that is,

objections dealing with the appropriateness of the methods used) or of the methodology of

modern cognitive psychology (that is, the principles and practices that underlie research in the

field).

In recent years, however, methodology has been increasingly used, as a pretentious substitute

for method in scientific and technical contexts. This means, “pertaining to methods”.

Research methodology is a way to systematically solve the research problems.When we talk

about research methodology we not only talk about research methods but also about the logic

behind the method used in the context of our research that’s why our research results are

capable of being evaluated either by researcher himself or by others.

The purpose of this section is to describe the methodology carried out to complete the work.the

methodology plays a dominant role in any research work. The effectiveness of any research

work depends upon the correctness of the research methodology.

In my project work, the basic criteria of research methodology is to-

Find out how many people are aware of the brand Monte Carlo?

What do they think about quality, design, product range offered by MC?

What are their expectations from the brand?

Research design

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A research design is an arrangement of conditions for collection & analysis of data in a manner

that aims to combine relevance to the research purpose with the economy in procedure.It

constitutes the blueprint for collection, measurement & analysis of data.

Research design is basically the conceptual structure within which research should be

conducted.This facilitates research to be as efficient yielding giving maximum information.

The research design used in my research work is exploratory & descriptive.

Collection of data

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For my research study the data has been collected by both primary & secondary means.

Primary data – has been collected through the structured questionnaires which will be filled

by various groups of business & service class, teenagers, housewives. The size of the

questionnaires was kept to the possible, containing 12 questions.

Secondary data – has been taken from published reports, journals, magazines, newspaper and

through internet mainly. Various kinds of data has been collected by websites to get the

needful information

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Sampling plan

The sample plan is designed to carry out the study in different areas of Ludhiana as in order to

fulfil the objectives of the study.These areas are like Monte carlo showrooms, Westend mall,

Kipps market, PVR Flames, Mall road etc.Some other popular public places have also been

chosen for this purpose.

Sample size

This includes how many elements of the target population are to be chosen here.In my case

around about 150 consumers was taken for the collection of data from different segments.

Sample technique

In order to take the sample for the study sample technique selected is random sampling

technique.

Sampling unit I tried my level best to cover all the sections of the society like housewives, teenagers,

servicemen, business class etc.Age group for my sample is upto 50.

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Field work

Maximum fieldwork is to get the questionnaire filled and get the various information from the

websites, Newspapers, Journals, and Magazines etc.

Scope of the study

The scope of the study is restricted to the periphery of Ludhiana city.

Significance of the study

This study includes the brand perception for Monte Carlo by various consumers.The research

conducted may prove to be helpful for the company for judging their customers in the right

way as according to their tastes & preferences.

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Analysis &Interpretation

Q1-Awareness regarding the brand “Monte Carlo”

This table clearly indicates that in case of awareness about the brand “Monte Carlo” Out of 150

respondents, 150 are aware of brand as according to my survey.

Opinion No. of respondents %

Yes 50 100%

No 0 0

Total 50 100%

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No. of respondent

100%

0%

Yes

No

Q2- Channels of awareness

Table shows that out of 150 respondents who are aware about the brand Monte Carlo. 27

(18%) respondents said that they came to know from friends, 30 (20%) from T.V.

Commercials, 15(10%) from Newspaper, 13(09%) from Banners & hoardings, 14 (09%) from

Magazines, 34 (23%) from advertisement, 17 (11%) from relatives.

Sources no. of respondents %

TV commercials 30 20%

Advertisement 34 23%Friends 27 18%

Relatives 17 11%

Newspaper 15 10%

Magazines 14 9%

Banners & hoardings 13 9%

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No. of respondents

20%

23%

18%

11%

10%

9%

9%Tv commercials

Advertisement

Friends

Relatives

Newspaper

Magazines

Banners & hoardings

Q3-Awareness regarding the products of Monte Carlo

Product name No. of respondents %

T-shirts 17 12%

Shirts 29 19%

Trousers 28 19%

Jackets 16 11%

Woollen wear 35 23%

Thermals 11 7%

Track suit 9 6%

Outer wear 5 3%

Table shows that out of 150 respondents 17(12%) are aware about the manufacture of T-shirts,

29(19%) are aware about shirts, 28(19%) are aware about trousers, 16(11%) are aware about

Jackets, 35(23%) are aware about pullovers, 9(6%) are aware about Track-suits, 11(7%) are

aware about thermals, 5(3%) are aware about outer wear.

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No. of respondent

11%

19%

19%11%

24%

7%6% 3%

T-shirts

Shirts

Trousers

Jackets

Wollen wear

Thermals

Track suits

Outer wear

Q4- Acceptability of Monte Carlo products

Opinions No. of respondents %

Yes 143 95%

No 7 5%

Table shows that out of 150 respondents, 143 (95%) respondents have purchased & 7 (5%)

have not purchased “Monte Carlo” products.

Q5. Trends of MC products

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No. of respondents

95%

5%

Yes

No

Awareness No. of respondents %

Summer 37 25%

Winter 113 75%

Table shows that out of 150 respondents, 113 (75%) are influenced by winter trends & 37

(25%) are influenced by summer trends of Monte Carlo products..

Q6. Quality of “Monte Carlo” products

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No. of respondents

25%

75%

Summer

Winter

Opinions No. of respondents %

Excellent 57 38%

Good 76 51%

Average 17 11%

Bad 0 0%

Table shows that out of 150 respondents 57(38%) give the opinion that the quality is excellent,

76(51%) said good, 17(11%) said average and no respondents give bad opinion to “Monte

Carlo” products.

Q7- Opinion regarding summer collection of “Monte Carlo” products

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No. of respondents

38%

51%

11% 0%

Excellent

Good

Average

Bad

Opinions No. of respondents %

Excellent 54 36%

Good 63 44%

Average 33 20%

Bad 0 0%

This table clearly depicts that Table shows that out of 150 respondents 54(36%) give the

opinion that the summer collection is excellent, 63(44%) said good, 33(20%) said average and

no respondents give bad opinion about the summer collection of “Monte Carlo” products.

Q8. Factors impact buying decision for a product

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No. of respondent

36%

42%

22%0%

Excellent

Good

Average

Bad

Factors No. of respondents Percentage

Price 18 12%

Brand name 52 35%

Quality 23 15%

Designing 27 18%

Advertising 30 20%

This table shows that brand name (35%) is the most important factor as according to my

survey.12% regard price, 23% upon quality, 18% upon design, 20% on advertising for a

product.

Q9.Expectations from Monte Carlo products

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No. of respondents

12%

35%

15%

18%

20%

Price

Brand Name

Quality

Designing

Advertising

Expectations No. of respondents %

Offers discounts 63 42%

Offers mega sales 39 26%

More durable products 36 24%

Customer loyalty schemes 12 8%

This table shows the expectations of consumers from Monte Carlo products.42% expect that

more discount offers are to be provided, 26% expect mega sales, 24% wants to get more

durable products, 8% wants to get customer loyalty schemes.

Q10. Satisfaction level by “Monte Carlo” products

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No. of respondents

42%

26%

24%

8%

Offers discount

Offers mega sales

More durable products

Customer loyalty scheme

Opinions No. of respondents %

Yes 117 78%

No 33 22%

This table clearly depicts that 113(78%) are satisfied by the product range 33(22%) are not

satisfied with the product range as offered by Monte Carlo products.

Q11. Perceptions regarding prices of “Monte Carlo” products

Opinions No. of respondents %

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No. of respondents

78%

22%

Yes

No

Genuine 83 55%

Expensive 45 30%

Over priced 22 15%

This table depicts that 83(55%) regard the prices as genuine, 45(30%) as expensive, 22(15%)

as over priced.

Interpretation

Since last so many decades, Monte Carlo, a super brand has always been continued to deliver

customer satisfaction which is the main motto of the company. Consumers trust their products,

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No. of respondents

55%30%

15%

Genuine

Expensive

Over priced

& the vast experience, resources & marketing knowledge they possess is reinforcing their

continued success.

It is interpretated that satisfied customers are extremely loyal when their trusted brand deliver

on promises and buyers needs continue to be met .Our country is segmented by many diverse

cultures which result in varied consumer taste and levels of sophistication. Therefore, a

company has to build its brand based on genuine insights to succeed and retain its position.

Customers demand has undergone a dynamic change as well. It has moved on from being just

a transactional arrangement to more of a strategic partnership that contributes effectively to

customer’s success. Today everyone looks for unique attire. Consume demand more choice

and a wider range in terms of prices.

The product range of Monte Carlo is trendy and stylishly different from other brands. Through

the years its focus has always been on delivering matchless quality, every time combine with

new and innovative design ideas. To ensure consistent quality, the company makes sure that

technologies and material and process are always the latest and the best.

Limitations

The limitation of the study is that it is survey of an area, not whole region so we can’t

tell about varied tastes & demands of all sections of the society.

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Survey is time consuming.It demands great manpower that can handle every kind of

individual.

Survey is not reliable as sometimes even surveyors befool on companies when they fill

the questionnaires themselves & present before their seniors. It is a question of

authenticity of a person.

Survey demands patience, time, hard work, efficiency, speed, alertness of mind & good

communication skills.

Research work is carried out in Ludhiana only, so the findings may not be applicable to

the different other parts of the country because of social & cultural differences.

Sample size is very small as compared to the population.

Time & money constraints have also limits.

FINDINGS AND CONCLUSION

Customers are aware of the brand “Monte Carlo”

Customers are satisfied with the quality & design of “Monte Carlo” products.

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The most preferred brand of this product is woollen wear.

Customers are expecting more discounts on products.

Satisfaction level is very much higher for “Monte Carlo” products.

Customers regard prices of “Monte Carlo” products as genuine.

The most important factor that impact for buying decision of a particular product is brand name.

Winter products are more acceptable as compared to summer product.

CONCLUSION

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The brand Monte Carlo showcased in the survey has earned the trust of consumers globally&

internationally. The words “Change is a way of life those who will not change will be left

behind” has been the driving force behind the brand Monte Carlo. Innovation is the keywords

that has been associated with the brand since its origin in 1925, be it in quality, design or new

concept.

It evokes a deep rooted trust among the customers and has become a household name in

woolen wear. It reaches out & provides a choice to every kind of customer. The brand aims at

explicit leadership in Indian market by providing consumers with superior product, better

lifestyle and incomparable satisfaction level.

Inspite of the competition from both the international and domestic brands, Monte Carlo enjoys

leadership status with the market share more than 38% this is on account of both strong

distribution network and strategic promotions.

Currently the brand is growing at over 32% per annum .The company has earned an unparallel

reputation for trust and reliability.

My study is only a regional study to measure such a broad spectrum of consumer tastes from

their opinions.

My survey reflects many arenas in which the company has proved its caliber and some arenas

where it is still to make a mark.

I am proud that I had my BBA training under guidance of the best and most trusted brand in

the market .Any flaw in the report is regretted.

APPENDIX

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Questionnaire

NAME-AGE-ADDRESS-OCCUPATION-INCOME GROUP-

1) Are you aware of the brand MC?

a) Yes

b) No

2) From which media did you get to know about MC?

a) TV commercials

b) Advertisement

c) Friends

d) Relatives

e) Newspaper

f) Magazines

g) Banners & hoardings

h) Others

3) Are you aware of both the product range manufactured by MC?

a) Summer Yes No

b) Winter Yes No

4) Which these of products range by MC are you aware of?

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a) T-shirts

b) Shirts

c) Trousers

d) Jacket

f) Woollen wear

g) Thermals

h) Track suits

i) Outer wear

j) Others

5) Have you ever purchased MC products?

a) Yes

b) No

6) What is your opinion regarding the quality & design of MC products?

a) Excellent

b) Good

c) Average

d) Bad

7) What is your opinion regarding the summer collection of MC?

a) Excellent

b) Good

c) Average

d) Bad

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8) Which factors impact your buying decision for a product?

a) Price

b) Brand name

c) Quality

d) Designing

e) Advertising

9) What is your expectation from MC products?

a) Offer discount

b) Offer mega sales

c) More durable products

d) Customer loyalty products

10) Are you satisfied by the product range offered by MC?

a) Yes

b) No

11) What is your perception regarding the prices offered by MC?

a) Genuine

b) Expensive

c) Over priced

12) In which sector you think improvement should be made? Give suggestions?

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BIBLIOGRAPHY

Book— Kothari C.R., Research Methodology, 2008, New age international

publisher, Delhi.

Web access- www.montecarlocollections.com www.knitwearclub.com www.indiahosiery.com www.montecarlo.com www.owmnahar.in www.ludhianadistrict.com

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