India will continue to be the fastest growing market for luxury writing instruments and accessories maker Montblanc
India will continue to be the fastest growing market for luxury writing instruments and accessories maker Montblanc, according to its chief executive, Nicolas Baretzki. Despite challenges in locating premium real estate in tier 2 cities for expansion, Montblanc’s sales in smaller towns have been growing through its joint venture with Indian watchmaker Titan and new ecommerce channels, Baretzki said on the sidelines of a store launch in the city.
The German luxury maison has 10 boutiques in the country and plans to open five new stores every year for the next three years, Baretzki said. “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,” Baretzki said. “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.”