Titan, Montblanc end JV in India

Tata Group-led Titan Company has exited its joint venture with German luxury brand Montblanc. The development is in line with Titan’s strategy to focus on its primary business and proprietary brands, the company said in a regulatory filing

As per the joint venture agreement, the partnership will end in December 2020.

“In line with the company’s strategy to focus on its primary business and proprietary brands, and as mutually agreed with Montblanc, the company would be divesting its stake in the JV company and accordingly the requisite formalities will be completed in December 2020,” Titan said. The India JV of Montblanc was done by establishing Montblanc India Retail Pvt Ltd in 2014, in which Titan holds 49 pc stake. Post the exit, Montblanc to continue its expansion strategy as wholly-owned subsidiary in India.