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Montblanc targets affluent Gulf consumers
Montblanc, manufacturer of luxury pens, leather goods, classic timepieces and jewellery, has announced an expansion programme in the region this year.
- By Irish Eden Belleza, Staff Reporter
- Published: 00:21 February 11, 2008
Dubai: Montblanc, manufacturer of luxury pens, leather goods, classic timepieces and jewellery, has announced an expansion programme in the region this year, with initial plans to open six exclusive boutiques including their own outlet and those of franchise partners in the UAE, Bahrain, Saudi Arabia, Kuwait and Qatar.
In an exclusive interview with Gulf News, Sonke Tornieporth, Montblanc's vice-president of sales-GBU Central, said: "The UAE, especially Dubai, is an exciting area and we've been doing business here for the last 15 to 20 years.
But the development in the last six years has been tremendous that we decided to come here and open our own structure."
"The Middle East is the strongest growing region in the world and one of the youngest regions, so we forecast strong growth here. The region offers great opportunities for our brand," he said.
Joe Nahhas, Montblanc's regional brand director, said Montblanc's strategic investments in the Gulf are based on careful evaluation of their market potential using both macroeconomic and retail-specific variables.
"The per capita annual income in the Gulf is now in excess of $20,000 and there is more money to be spent on items that were once considered a luxury - the line dividing necessity, comfort and luxury is diminishing here," Nahhas said.
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