Luxury products maker Montblanc and Titan have entered into a joint venture agreement to open single brand retail outlets in India..AZB & Partners advised Montblanc with a team led by Mumbai Partner Darshika Kothari..Economic Laws Practice advised watched and jewellery maker Titan company. The ELP team was led by Associate Partner Vinayak Burman along with Associate Manager Archana Khosla and Associates Trishna Sharma and Shubhra Sharma..Montblanc will be subscribing to 51% and Titan subscribing to 49% of the share capital of the proposed Joint Venture Company..The move comes when Montblanc can enter India even without a partner as the government has allowed full ownership in single-brand retail. However, by using the venture route, it can avoid the 30 per cent mandatory sourcing norm required to get the single-brand retail licence, according to Business Standard.
Luxury products maker Montblanc and Titan have entered into a joint venture agreement to open single brand retail outlets in India..AZB & Partners advised Montblanc with a team led by Mumbai Partner Darshika Kothari..Economic Laws Practice advised watched and jewellery maker Titan company. The ELP team was led by Associate Partner Vinayak Burman along with Associate Manager Archana Khosla and Associates Trishna Sharma and Shubhra Sharma..Montblanc will be subscribing to 51% and Titan subscribing to 49% of the share capital of the proposed Joint Venture Company..The move comes when Montblanc can enter India even without a partner as the government has allowed full ownership in single-brand retail. However, by using the venture route, it can avoid the 30 per cent mandatory sourcing norm required to get the single-brand retail licence, according to Business Standard.
