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Montblanc signs JV with Titan

Snap ties with Dilip Joshi

Tags: retail, retailer, news, Montblance

March 01, 2014  |  comments ( 0 )  | 
Montblanc signs JV with Titan

Montlance has ended its two-decade long association with cricketer-turned-entrepreneur Dilip Joshi and has partnered with Titan Industries, a part of the Tata Group, in a 51:49 joint venture.

With this development Montblance has become the latest foreign retailer to invest in the country after the government loosened rules for single-brand retailers. 

Presently, Montblance has some 16 boutiques in the country where demand for luxury goods is growing.  Montblanc CEO Jerome Lambert said that the firm's aim is to become a leader in men's luxury accessories. The joint venture route will help Montblanc avoid the mandatory 30% local material sourcing norm in case of 100% foreign direct investment (FDI).

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