Montblanc brand looks to women to open up 100 stores

“China is our most important market, not Japan.” Han Wufu, general manager of Montblanc International, stressed in an interview with the “First Financial Daily”: “The potential of the Chinese market far exceeds that of Japan, and Montblanc’s investment in the Chinese market It is many times that of Japan.” Han Wook predicted that the performance of Montblanc’s Chinese market will surpass Japan by the end of this year.

expansion

Montblanc is an early luxury brand entering China. It opened its first store since 1998 and opened more than 80 stores in May 2004.

In the past two years, Montblanc has developed rapidly in China. In 2004, it opened 3 new stores and changed the original 35 stores to better locations. In 2005, it opened 5 new stores and expanded 18 original ones. shop. By the end of 2005, Montblanc had opened 105 franchised stores in 41 cities in China, accounting for almost half of its global franchise, and China has become its third largest market after the United States and Italy.

According to Han Wufu, Montblanc’s short-term goal in China is to open at least 100 stores by the end of next year. Of the luxury brands that have entered the Chinese market, few have dared to say “100 stores”. Montblanc's two new stores will soon open in Shanghai and Beijing.

Channel strategy

2005 was a landmark year for Montblanc in China. In October of this year, Montblanc took control of 15 Chinese markets, shut down more than 10 stores and retained 37 stores. Ye Meiying, general manager of Montblanc China Market, said in an interview that next Montblanc will also gradually integrate 55 stores in other 26 cities, shut down some stores, and only retain about 40 stores.

For most of the luxury brands, Hong Kong’s representation of the Mainland business has been a consistent choice for decades. However, with the rise of the Chinese market, agents have apparently been unable to continue to serve the brand's long-term development, and more luxury goods giants have chosen. Open a branch in China independently. Laocste and other brands have recovered the agency rights in the mainland market in recent years and opened their own stores.

This is also true of Montblanc. “In October 2005, an important reason for Montblanc’s eagerness to recover the agency rights was that a well-established sales network had been established in China. At the same time, many new shopping malls were very active in introducing high-end brands due to the rapid development of the domestic retail industry. At this time, the cost of expansion will undoubtedly be the lowest.” Ye Meiying once stated Montblanc’s “great change”.

New profit source

"Look at this watch, I think this is the jewelry that can show time, and can not simply attribute it to the watch." In the interview, Han Wufu constantly stressed the importance of the watch for the future development of Montblanc. Montblanc started with making pens. The pen made over 100 years has brought huge profits to Montblanc. Now the giant pen maker has been focusing more on the watch and jewelry industry, especially the development of the female market.