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Victorinox to open 35 stores by 2018

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Over the next three years, the swiss knife and accessory maker has outlined aggressive expansion plans. It is planning to open 35 stores and an investment of Rs 80 crore by 2018.

Victorinox to open 35 stores by 2018
Victorinox is also set to launch its own line of apparel in the next two years

The company is also looking at more than doubling its revenues to Rs 200 crore from Rs 75 crore at present. It plans to open 20 stores in 2016, in four metro cities – Delhi, Mumbai, Bengaluru and Chennai and will open 10 more stories in tier-2 cities in 2017, and the remaining 5 stores in 2018.

Victorinox is opening ‘concept stores’ under the brand Gutt Reise using a 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. Besides, it will launch the Wenger watches from among its international brands in the country later this year.

Victorinox 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.