Luxurious trademark Mont Blanc is targeting travel retail expansion and tier-2 cities as it focuses on demand from consumers in smaller cities, Neeraj WaliaCEO & CEO, Montblanc India Retail Private Ltdtold ET.
The company, which mainly sells writing instruments, has planned to open stores in Jaipur, Kolkata, Ahmedabad, Hyderabad and Chennai.
“Selling both writing instruments and other products such as bags, perfumes and accessories has increased but the share of other products in total revenue has also increased. We are targeting airport retail – both tax-free and tax-paying to grow as we have a wide range of customers, which we wouldn’t have in a brick-and-mortar store,” said Walia.
The company has 11 boutique stores in India and more than 50 points of sale. It is looking to target the younger generation.
“The younger generation is looking for stories that are beautiful on their wrist, in their hand as they write, or in the bag they’re carrying. That’s how we bring in new products with different stories,” says Walia.
It is betting big on the growth of the Indian aviation industry and much of its expansion is planned at the airport.
“We’ll be expanding into newer markets, newer cities and channels that look very promising, where we see an ongoing expansion of travel retail. transforming the airline industry, where more and more airports are coming in. When you see flights move to the small towns, customers come from there, explore new collections, you’ll see the scope expand ,” said the executive.
“Those cities may or may not grow to the point of having a luxurious The retail space is there, but there’s definitely a customer exploring and waiting for a Montblanc product,” said Walia.
In the tax zone, the company has a store at Delhi airport and will soon expand to Mumbai and Bengaluru.
