Montblanc names India as fastest growing market
The luxury accessories brand Montblanc has seen sales in smaller Indian towns grow through its joint venture with the Indian watch brand Titan and has named India as its fastest growing global market.
Nicolas Baretzki, the Chief Executive of Montblanc, announced that India is the brand’s fastest growing market during a Montblanc store opening in Chennai on Monday, May 14. Baretzki also took the opportunity to mention that Montblanc, which currently has ten flagship stores in India, plans to open five new stores every year for the next three years.
Baretzki also said at the opening that there have been challenges in locating real estate in Tier 2 cities suitable for stores but, despite this, sales in smaller towns have been increasing. He attributed this to online sales through e-commerce partnerships and the brand’s partnership with Titan.
“Boutiques in Tier 2 and 3 cities, and the new network through the ecommerce platform will keep India at the top in terms of percentage growth,” said Baretzki. “It will definitely be much faster than any other mature market with large coverage where the growth is more on a like-for-like basis.”
Montblanc first partnered with Titan in December 2015 and since then, Titan has operated a dedicated customer service centre on behalf of Montblanc and has partnered with the brand for store openings.
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