Chief executive, Nicolas Baretzki of Montblanc International said that India will continue to be the fastest growing market for the German company’s luxury writing instruments and accessories. Montblanc has ten boutiques in the country and plans to open five new stores every year for the next three years, Baretzki added.
In India, Montblanc’s sales in smaller towns have been growing through its joint venture with Indian watchmaker Titan and ecommerce platform Tata CliQ. Baretzki believes that the partnership with Titan has been profitable for the brand’s business in India, and for customer proximity in smaller cities.
Bhaskar Bhat, managing director of Titan estimates a turnover of over $90 million (Rs 600 crore) from the joint venture by 2020.
