Titan inks tie-up with Montblanc for single brand retail

Watches and jewellery retailer Titan has inked a joint venture partnership with luxury goods

maker Montblanc International for single brand retail in India. Germany-based Montblanc sells premium pens, leather products, watches, perfumes and jewellery. Experts point out, the JV will help Titan in getting a better position in world-class luxury play. Titan is looking forward to this exposure with Richemont group. Titan would bring the entire Montblanc’s range of products to India.

Titan targeting 3 billion dollars (over Rs 18,000 crores) revenue mark in the next 24 months. While the jewellery to fragrance manufacturer took two decades to cross a billion dollar mark (over Rs 6,000 crores), by the end of this fiscal, at constant forex rate, Titan should be able to become a 2 billion dollars (over Rs 12,000 crores) enterprise. The company’s aim is to touch the 5-billion dollars (over Rs 30,000 crores) revenue mark in the next five-seven years.

Titan expects the growth to be driven by the jewellery segment as well as new segments like eyewear and lifestyle accessories. Last year, the company with Tanishq jewellery and Titan watch brand changed its name from Titan Industries to Titan Company, to cater to new segments such as fragrances and lifestyle accessories like helmets and bags in a better way.