Luxury brand Victorinox AG Switzerland, known for its famous Swiss Army Knife, is planning to invest Rs 50 crore in India by 2011-12 to expand its retail presence.
Luxury brand Victorinox AG Switzerland, known for its famous Swiss Army Knife, is
planning to invest Rs 50 crore in India by 2011-12 to expand its retail presence and introduce new product ranges.
The company's Indian subsidiary, Victorinox India, whose product range includes pocket tools, cutlery, travel gear and watches, is looking at increasing its presence through multi-brand outlets as well as open more exclusive mono-brand franchise outlets in the country.
"We are planning to invest Rs 50 crore by 2011-12 with plans to open more Victorinox shop-in-shop corners and have our presence in many more retail outlets in more cities and towns, besides launching new product ranges in the country," Victorinox India Managing Director Anish Goel said.
He said the investment would come from the company's internal accrual. Goel, however, refused to disclose the exact number of additional franchise outlets planned by the company or share details of increasing presence through multi-brand outlets.
Victorinox has currently two franchise outlets in Delhi NCR and its products also are available in over 600 multi-brand outlets and shop-in-shops. Besides, the company is also planning to increase its product range.
"We would be introducing new range of pocket tools, travel gear and watches in line with our new products abroad," Goel said.
As part of its effort to increase footprint in India, Victorinox is undertaking a 360-degree advertising and marketing campaign from March.
"We are beginning our advertising and marketing campaign from March and this would involve mass media, on-ground and below-the-line activities," he said.
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