Tata Group firm Titan on Friday said it has completed its exit from joint venture Montblanc India Retail, which operates retail boutiques in the country for Montblanc products.

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Last year on October 8, Titan had announced its exit from the five-year joint venture with the luxury firm "we hereby inform you that, on 12th March 2021, the company has completed its exit from Montblanc India Retail Private Limited (MB India). Consequently, MB India ceases to be an associate/ JV Company of the Company with effect from March 12, 2021," Titan said in a regulatory filing.

Titan held 49 percent equity stake in Montblanc India Retail Private Limited.

(Edited by : Jomy)