Swiss Military to invest Rs 200 crore for pan-India expansion
Switzerland-based lifestyle brand for men, Swiss Military, has embarked on a store expansion plan to enhance its presence in India, reports The. It has outlined capital investment of Rs 200 crore to set up its own stores and in developing a logistics and warehousing network, a company official said.
“We have been selling our range of products in India since 2011-12 and now time has come to go for a major retail presence. We have decided to have 172 stores in key markets across India,” Anuj Sawhney, MD, Swiss Military Worldwide. He further added: “The company would own and run 12 stores and the rest 160 outlets would come up through the franchise route. The store rollout will start from May and all the 172 stores will be up and running by the end of 2017.”
Swiss Military Lifestyles Products Ltd is the Indian marketing arm of the company. The company’s international range includes travel gear, writing instruments, watches, garments, accessories, kitchenware, eyewear, leather goods, outdoor/ hiking equipment, footwear, cosmetics and electronics. The company has over 1,800 stock keeping units in the global portfolio. Swiss Military will soon introduce watches in India and by June it has plans to offer bicycles to its customers in the price range of Rs 12,000 to 25,000. Better footprint outlines capital investment of Rs 200 crore and plans 172 stores in key markets across India.
Incepted in 1984 with only watches, Swiss Military has now increased its portfolio to a large range of products from key chains to bicycles across 26 countries.