Titan to open Montblanc boutiques soon

Titan will open five Montblanc boutiques in Mumbai, Delhi, Hyderabad and Pune in the next three months. Titan, India’s largest watch maker has a joint venture with global luxury brand Montblanc which sells premium pens, leather products, watches, perfumes and jewelry. Titan has got a nod from the Foreign Investment Promotion Board to open Montblanc stores under the single brand retail investment policy in India. The latest move will help Titan diversify into accessories and lifestyle market. It will also help the retailer that owns the Tanishq brand of gold jewelry to diversify its premium offerings.

For Montblanc, this will be a second coming to the Indian market. Since the 1990s, it used to sell products through a distribution arrangement with Entrack. Montblanc is part of the Swiss luxury jewelry and watch company Richemont. It owns 51 per cent of the venture with Titan. The boutiques would have innovative writing instruments, fine jewelry for men and women and artisanal leather goods.

Titan is a joint venture between the Tata group and Tamil Nadu Industrial Development Corporation. Titan’s net profit for the quarter ended September 30 dipped 39 per cent. Sales dropped 25 per cent during the quarter.