Montblanc to expand in India
With the occasion of the launch of Princess Grace Collection in India, Karl Handke of Montblanc confirmed his company is looking to expand in India despite the limited luxury retail real estate. He said Montblanc is considering tier-two cities as well as airport boutiques, starting with Hyderabad. Handcke told The Economic Times, Montblanc’s current priority is Kolkata where the brand does not have a stand-alone Montblanc boutique, while more stores in New Delhi.
Presently, Montblanc has 10 boutiques in India, which are operated under a joint venture agreement with local company. Montblanc is owned by Richemont, the second largest luxury group in the world. Since the lax in FDI (foreign direct investment) legislation earlier this year, some Richemont Group companies have started direct operations in India.