Business

Monday November 9, 2009

Montblanc gearing up for growth

By LAALITHA HUNT


Emerging market for high profile and luxury items despite slowdown

KUALA LUMPUR: Leading international luxury brand Montblanc’s retail growth in Malaysia is at a manageable level despite the slowdown over the past year and it is gearing up for further growth next year as the overall market picks up.

According to Montblanc SEA Pte Ltd general manager Gan Teck Hock, with the Malaysian economy having grown tremendously in the past 10 years, a need and enthusiasm for higher profile and luxury items has emerged.

He further noted that the growing attendance of branded goods flocking to the local scene during this period was proof that Malaysians’ taste in consumer goods had matured and developed into almost a passion for perfection.

“And this is where the appreciation for Montblanc products manifests itself,” he said.

Montblanc, which is present in over 70 countries, currently has two boutiques in Kuala Lumpur – in the Pavilion and Suria KLCC.

On plans for retail expansion, Gan said it largely depended on whether the opportunity arose.

He said the strategy for Malaysia was to grow its diversified brand, which covers jewellery, leather and accessories like eyewear as well as fragrance, with greater focus on its fine timepieces and writing instrument categories.

Asia was a key region where Montblanc, like many other luxury brands, was also actively pursuing clients, according to Gan.

“In Asia, luxury retail is definitely getting more attention as countries such as China are a growing force to be reckoned with,” he said.

For its growing Malaysian clientele, Montblanc recently unveiled its latest collection – the Montblanc Collection Villeret 1858.

Alexander Schmiedt with the timepiece from the Montblanc Collection Villeret 1858.

The highlight of the collection is a new timepiece known as the Grand Tourbillion Heures Mysterieuses.

This lovely watch has hour and minute hands that float freely with a mirror finish on the background of the dial.

The highlight of this design is the tourbillion, which occupies an enormous part of the dial on these exclusive timepieces.

According to Germany-based Montblanc International business director Alexander Schmiedt, the tourbillion – an ingenious mechanism designed to eliminate vertical position error in the balance spring, resulting in the watch to run too fast or slow – is one of the most demanding of all watchmaking mechanisms and calls for all the skill and expertise of the best watchmakers.

The collection is the result of Montblanc’s collaboration with Minerva, a small manufacturer specialising in handcrafted watchmaking in Villeret, Switzerland founded in 1858.

Montblanc bought over Minerva in early 2007 to preserve and cultivate the authentic Swiss tradition of meticulously crafting each timepiece by hand, Schmiedt said.

“More than 70% of the finishing is done by hand, hence we are naturally limited in terms of production,” he said.

While Montblanc’s first production centre, which utilises modern manufacturing techniques, produces more than 100,000 watches per year, Minerva’s annual production is capped at 250 watches.

In fact, there are only eight Grand Tourbillon Heures Mystérieuses timepieces, available in white or rose gold.

According to Schmiedt, the limited timepieces would be marketed via exclusive roadshows and through one-on-one private viewing.

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