Oswal Woollen Mills Ltd, which manufactures woollen clothes under the Monte Carlo brand, has drafted plans to expand its retail presence in woollen hosiery and cotton garments.
Sources close to the company say that the expansion plan is likely to be through franchisees outlets. The company is set to add exclusive Monte Carlo stores in major cities. The numbers of stores is likely to increase from 21 at present to 144 by 2009. The company has planned an IPO to raise funds for the expansion plans.