Montblanc to expand in India
Luxury goods brand Montblanc claims India offers an attractive base for international companies.
President of the German leathergoods producer’s western hemisphere operations, Karl Handke, describes the Indian market as “strong” for foreign brands, and one that is likely to grow.
However, there are certain elements for the government to work on. "One of the main problems a brand faces while retailing in India is the laws, duties and taxes," he told the Indo-Asian News Service.
"The import duty on luxury goods is high, making it
difficult for international brands to enter India. If more international brands
enter India, it will only be beneficial for the country since it will provide
for more employment opportunities."
According to Mr Hadke, who handles sales and marketing for the brand in Europe,
North and South America, Africa, the Middle East and India, Montblanc is looking
to "extensively" expand its retail network.
The brand is already available in ten Indian cities including New Delhi, Mumbai and Ludhiana, and is now focusing on Kolkata, where it is yet to establish a standalone boutique. It is also looking for open more New Delhi stores in the coming months.
