Luxury brand Montblanc is targeting travel retail and tier 2 cities for expansion as it zeroes in on demand from consumers of smaller cities, Neeraj Walia, Managing Director & CEO, Montblanc India Retail Private Limited, told ET.
The company, which primarily sells writing instruments, has planned to open stores in Jaipur, Kolkata, Ahmedabad, Hyderabad and Chennai.
“The sale of both writing instruments and other products such as bags, perfume and accessories have increased but share of other products in overall sale has also grown. We are targeting airport retail – both duty free and duty paid to grow as we get variety of customers, which we won’t get in a traditional store,” said Walia.
The company has 11 boutique stores in India and over 50 point of sales. It is looking at ways to target younger generation.
“Younger generation are looking around for beautiful stories whether it’s on their wrist or in their hand while writing, or in the bag which they are carrying. That is how we are bringing new products with different stories,” said Walia.
It is betting big on the growth of India aviation sector and most of its expansion is planned at the airport.
“We will be expanding to newer markets and newer cities and channels looking very promising, where we see expansion happening is travel retail. India as a country has transformed aviation, where more and more airports are coming. When you see flights going across to small towns, the clients coming in from there, exploring new collections, you see a scope for expansion,” the executive said.
“Those cities may or may not be evolved to the level that there is a luxury retail space present there, but there is definitely a client exploring and waiting for a Montblanc product,” Walia said.
In the duty paid area, the company has a store at Delhi airport and will soon be expanding to Mumbai and Bengaluru.