European luxury firm Maison Montblanc, which has a joint venture with India’s Bangalore-based Titan, is looking at a turnover of $100 million over the next four years. The joint venture currently has seven boutique stores, and Titan’s managing director Bhaskar Bhat said, “We have a plan for about 25 stores under the joint venture … which is a five year journey plan, but we believe we can do it faster.”
Business Standard reports that the boutiques will sell writing instruments, watches, men’s accessories and leather goods. “Large cities are our primary thrust for stores. We will explore some online [business] because the non-metro customer certainly has an allure of MontBlanc. We are not considering physical stores in non-metros right now,” Bhat added.
