Montblanc plots India entry through tie-up with Titan.

Titan entered a venture with Netherlands-based Montblanc Services BV, known for its writing instruments. Titan has a minority stake in the venture, aimed at establishing operations for Montblanc in India to carry out single-brand retail trade.

The move comes when Montblanc can enter India even without a partner as the government has allowed full ownership in single-brand retail. However, by using the venture route, it can avoid the 30 per cent mandatory sourcing norm required to get the single-brand retail licence.

It belongs to the Richemont Group that clocks 10 billion euros in revenue a year and owns several companies in the luxury goods space. Some are Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Panerai and Montblanc.

'This venture will help Titan gain a hands-on experience with world class luxury,' said analyst Abneesh Roy of Edelweiss Securities.

Says Vivek Veda of Espirito Santo Securities, 'A tie-up with a name like this brings immense benefits to Titan.'

BS