Titan, MontBlanc to add 7 stores, partner with ecommerce players

By

Maverick Martins

Published
May 5, 2017

Titan and European luxury firm Maison Montblanc, which has a joint venture to open latter's retail outlets in India is planning to add 7 more stores and boost its presence in non metro markets by partnering with leading online players.

The joint venture has seven boutique stores across Mumbai, New Delhi, Pune Hyderabad, Bengaluru.
 
"We have a plan for about 25 stores under the joint venture. This year we will add seven stores, which will take the total to 14 stores. I believe India is one of the best among store openings for MontBlanc. Twenty-five stores is a five year journey plan but we believe we can do it faster," Titan managing director Bhaskar Bhat told a news agency.

Bhat said the JV is adequately funded to open 25 stores and is also looking at online presence this year.

"MontBlanc globally is looking at online as an omni-play but online in India will start very soon. It could start by this year. It will be most likely in partnership (with other e-commerce players)," he said.
 
"Per boutique we should be able to do a business of Rs 20-30 crore. So for 25 stores we should be able to do Rs 400-600 crore," he added.
 
The boutiques sell writing instruments, watches, men's accessories and leather goods. The JV will focus on the metros for retail outlets while online will help it to cater to the non-metro customers.