Customers are becoming younger in India… they are more curious, says Montblanc India CEO Neeraj Walia

Montblanc India became a wholly owned subsidiary of the Germany-based Maison in March 2021. It has a total of 11 boutiques in six cities in India, including Delhi, Mumbai, Bangalore, Chennai, Pune, and Hyderabad. It has an online presence through Tata CLiQ Luxury and William Penn.   

Business Today spoke to Neeraj Walia, MD & CEO, Montblanc India about Montblanc’s plans for India, how the Indian luxury consumer is evolving, and an increased focus on watches and leather goods. Edited excerpts:  

How important is India as a market for you?  

India has always been a very important market for Montblanc. We have been present in the country for a couple of decades now, through our partners. However, we became a wholly owned subsidiary only in 2021. We have a physical presence in 6 cities but through our online partners -- TataCliq Luxury and William Penn – we supply to over 300 cities. Montblanc is known and regarded as one of the finest luxury brands across the country, and people were connecting with it, whether it's writing instruments or leather products, or watches.  

What are your expansion plans going forward?  

We have strong plans to expand not only in different cities but also through different channels. With travel opening up travel trade is going up. We are present at Delhi and Mumbai airports and now the plan is to open a store at the Bangalore airport as well. We plan to expand to Ahmedabad, Kolkata, and Lucknow as well.

How is the luxury market in India changing overall? Is the luxury consumer evolving?  

India is evolving very fast as a luxury market. And globally too as we see, mobility is the trend. People want products that are connected to them when they are always on the go. So, brands are connecting with them, including Montblanc. This year we launched an ‘On the move’ theme, where we are putting the mobility of our customers at the forefront.   

The customers are becoming younger. We do see a lot of younger clientele coming in. They are more curious. They are intrigued by the craftsmanship and the story behind the brand. And if the story and the product connect with them, they would like to purchase it. This we are seeing across the categories, whether it is writing instruments, watches, or leather accessories. Leather is obviously the name of the game because we talk about fashion and on the move. So this is happening that a new generation is coming in, and every year we see that our first-time buyers are becoming younger and younger.

What is the average age of a Montblanc customer in India?  

The average age is becoming less than 30 years for first-time buyers, and the share of those below 30 is increasing at a very fast pace year-on-year. They're very well aware of the new launches, they track what's happening around the world, and they want to see that particular product or new launch at a boutique nearby. They don't want any time lags and we are responding very well to those requirements.  

All these products which are launched globally are at the same time and at par available in the Indian market as well. We launched a diving watch (Montblanc 1858 series) for the first time this year at the Watches and Wonders show in Switzerland at March-end. By April first week, the watch was available in our boutiques in India.  

Montblanc has always been associated with writing instruments. But is the younger generation still interested in them or is there an increased focus on watches and leather accessories?  

So leather accessories have always been a part of the company. In 1906 when Montblanc started, they made pen pouches as well. Because when you are wielding a beautiful writing instrument in your hand you need a case to protect and carry it. That’s how the leather journey started. But I think to some extent, it is a misconception that writing instruments was the only part of our core business because when it comes to horology or the watches, the presence of Minerva, with us itself talks about a rich legacy. In fact, Minerva was founded in 1858, as a little workshop in the Jura mountains by Charles Robert. And then gradually, when Montblanc acquired Minerva and the legacy and the know-how and the entire detailing which goes into fine watchmaking is something that is sought after by precision watchmakers or watch lovers across the world. It is reflected through our core collections. We have the 1858 Exploration series. We also have a Heritage series coming from Minerva. So Montblanc has always had a strong relationship with horology.  

Writing instruments continue to command the lion’s share for us. Leather is commanding a very fast growth for us. Montblanc also launched the luggage category a few years back. It’s also been received very well. For the last two years, leather has been growing very very fast for us. When it comes to watches, this year we have seen a lot of interest from our clients. Watches for us have become the fastest growing category.