In anticipation of the much awaited market rebound, luxury goods manufacturer Montblanc, has implemented a planned expansion of retail operations in the country with the opening of boutiques in high end malls in the UAE to showcase their latest products.
The UAE retail expansion closely follows a similar strategy in Saudi Arabia where Montblanc, recognized worldwide for its classic timepieces, jewelry, leather goods and writing instruments announced the expansion of its retail distribution network with the opening of new boutiques in the Kingdom, located in Red Sea Mall, Jeddah and Kingdom Centre, Riyadh.
With the return of market confidence in the real estate and property sector in Dubai as a result of the Dubai World debt restructuring announced recently, the luxury sector has put in place an aggressive strategy to take advantage of the long awaited market recovery.
“Montblanc’s 2010 retail expansion in the UAE began with the launch of a 170 M2 boutique in Abu Dhabi, the opening of our 90 M2 boutique in Mirdiff City Centre in March and a refurbished and expanded boutique in Ibn Batuta Mall. These will be followed by further new and refurbished boutique locations in the coming months,” remarked Mr. Joe Nahhas, Regional Brand Director of Montblanc. “The success of Montblanc in the UAE is a direct result of the brand’s synergy and strong ties with the Rivoli Group, long time retailer of Montblanc in the UAE.”
Mr Nahhas added: “Montblanc’s investment strategy in the Gulf countries is anchored in the fact that the Gulf and Middle East countries are poised for an economic recovery and with increasing confidence in the economy, investment in luxury products is expected to grow.”
Mr. Nahhas noted that Montblanc will add a further 15,000 square feet of retail space both through its own boutiques and through franchise partners across the region which represents a 25% growth on current retail space for the luxury giant.
“The opening of new Monblanc boutiques ensures that we can provide a wide range of our products to our clients throughout the UAE at convenient locations across the country. Choosing the right location is a key success factor- the Mirdiff City Centre boutique is a prime example of this strategy. We want to empower Rivoli to meet the demands of our clients and thereby grow their business and revenue,” Mr. Nahhas stressed.
“Over the years Rivoli has strategically invested in establishing the Montblanc brand in the UAE. Having years of experience in the region’s retail industry, Rivoli has always concentrated on bringing the best retail environment to offer luxury products. Even in the present economic environment Rivoli continues to invest in the region with new stores and more luxury products for Montblanc. Our new stores in Mirdif City Centre and the new look, refurbished outlet at Ibn Battuta are recent additions to our commitment towards Montblanc,” said Mr. Shanu Nag, Chief Operating Officer of Rivoli Group.
Montblanc’s recent strategic investments in the exciting Gulf countries include their own boutiques as well as outlets through franchise partners and shop-in-shop concepts covering the UAE, Bahrain, Saudi Arabia, Kuwait, Oman and Qatar.
The current Montblanc expansion demonstrates the luxury giant’s ongoing commitment to the regional expansion of its business. This is runs in parallel with an aggressive programme of product launches in 2010 where Montblanc is bringing new and highly innovative product lines to market.
Montblanc is a truly international brand with operations in more than 70 countries. Montblanc sells its products exclusively through its international network of authorized retailers, jewellers and over 360 Montblanc Boutiques worldwide.
Montblanc products are in high demand as regional consumers seek out bespoke and limited-editions over a straight forward approach to luxury and the products are also highly popular among celebrities and stars.
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