Why Montblanc turned into a watchmaker
|Montblanc Villeret Pulsographe|
The headline on Bloomberg reads “Montblanc Watches Set to Outsell Pens“. That is news because Montblanc is not historically a watchmaker, it first made watches in 1997 or 1998. The Bloomberg article then goes on to explain why and how Montblanc expanded beyond pens which account for just below half of revenue, to watches and everything else. Its watch range now includes the haute horlogerie Villeret 1858 range, thanks to Richemont’s acquisition of Minerva.
The reason for this diversification is that pen sales are growing way slower than watch sales, primarily because pens are rarely used while watches are on show all the time.
Watches now make up about 20% of Montblanc’s approximately EUR700 million in revenue.
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