The development is in line with Titan's strategy to focus on its primary business and proprietary brands, the company said in a regulatory filing.
As per the joint venture agreement, the partnership will end in December 2020.
"In line with the company's strategy to focus on its primary business and proprietary brands, and as mutually agreed with Montblanc, the company would be divesting its stake in the JV company and accordingly the requisite formalities will be completed in December 2020," Titan said in a regulatory filing.
The India joint venture of Montblanc was formed by establishing
Post the end of the joint venture Montblanc to continue its expansion strategy as wholly owned subsidiary in India.
C.K. Venkataraman, Managing Director of
Nicolas Baretzki, CEO of
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