Luxury goods manufacturer Montblanc will open six new boutiques across the Middle East region in the current fiscal year.

Montblanc is recognised worldwide for its classic timepieces, jewellery, leather goods and writing instruments.

The explosive growth in the global luxury retail business is driving the company to open more outlets in the region, said a top official.

'The company will rope in franchise partners for setting up exclusive boutiques in the UAE, Bahrain, Saudi Arabia, Kuwait and Qatar,' said Montblanc regional brand Director, Joe Nahhas.

“In synch with our international expansion plans, we are pursuing new growth opportunities in the region. We are constantly on the lookout for newer markets as customers in the region are becoming more discerning towards luxury products,” he noted.

Nahhas pointed out that the luxury products were well-received in Gulf markets due to the large population of young, employed workers with high disposable incomes, a propensity to spend, and a willingness to embrace luxury.

He said the company was making strategic investments in the exciting Gulf countries by evaluating their 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 as the lines between necessity, comforts and luxury are diminishing,” he added.-TradeArabia News Service