The Titan Company has announced a joint venture with German luxury products maker Maison Montblanc to establish Montblanc’s luxury retail presence across India.
Montblanc is re-entering India after its earlier venture with cricketer turned entrepreneur Dilip Doshi failed. Doshi’s Entrack Trading company was its India partner for nearly two decades.
In February this year, Montblanc had entered into a 51:49 joint venture with Titan to enhance its footsteps in India. The Titan’s joint venture will see the opening of five Montblanc boutiques in the coming three months in Mumbai, Delhi, Hyderabad and Pune, Titan said in a statement.
This month will see the opening of Montblanc boutiques in the exclusive Palladium Mall in Mumbai, and at the Taj Mahal Hotel, Mansingh Road, Delhi. Both boutiques showcase the latest collections of expertly crafted, sought-after timepieces, a wide selection of Maison’s innovative writing instruments, fine jewellery for men and women and artisanal leather goods.
“We are delighted to partner with Titan in India. This is a market that presents exceptional opportunity for Montblanc, and our expansion strategy will certainly help serve our strong and loyal client base here. The first two boutiques in Mumbai and in Delhi are excellent starting points for us and we look forward to a long and successful presence in India,” Nicolas Baretzki, Executive Vice President Sales, Montblanc International said.
Titan will also put in place a dedicated Customer Service Centre whcih will ensure a new level of convenience and service for clients in India. Titan will also help Montblanc to
With the government allowing 100 per cent FDI in the sector, several global players have showed interest in the Indian market. So far, the biggest single-brand retail proposal cleared by the government came from Swedish furniture retailer Ikea. The company will invest Rs 10,500 crore to open 25 stores in India in the next 10 years.
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