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Mar, 28 2016

Victorinox to add 35 stores by 2018

Victorinox, a Swiss knife and accessory maker is planning aggressive expansion over the next three years and is looking to open 35 stores by 2018. The brand will invest Rs 80 crore and is also looking forward at doubling its revenues to Rs 200 crore from Rs 75 crore at present.

"We will open 35 stores by 2018, and will invest about Rs 80 crore," Colonel Chandhoke, Managing Director and CEO of Victorinox, told PTI. “Currently, our knives, watches and travel gear account for an equal percentage of sales. However, going forward, I expect the travel gear segment to account for 50 per cent of sales We have already signed on 14 stores, and four more will come up by mid-June this year,” he added.

It plans to open 20 stores in 2016, in four metros including Delhi, Mumbai, Bengaluru and Chennai and will open 10 more stores in tier- II cities in 2017, and the remaining five stores in 2018. The brand is opening 'concept stores' under the brand Gutt Reise via franchise and distribution model, where it will display its knives and travel gear predominantly, besides other products of their global brand partners.

The company will not retail the watches under Victorinox brand in these stores, but will continue to push watch sales in conventional and modern trade, which accounts for about 35 per cent of the turnover.

Chandhoke further told PTI that the brand is also set to launch its own line of apparel in the next two years, which account for 10-15 per cent of the overall global turnover of the company. Besides, it will launch the Wenger watches from among its international brands in the country later this year.

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