Swiss multi-brand retailer Victorinox is aggressively marking its entry into India. The company, which recently parted ways with its former Indian distributor, said it will be going solo ahead of launching its own single brand retail store in 2017 and e-commerce channel.

The company, which previously sold through Anish Goel’s Basecamp stores and other multi-brand retailers, said it will be now selling through its stores Gute Reise by Victorinox. Goel had helmed Victorinox in India for 20 years.

The 100 per cent Indian subsidiary currently sells in India through a distribution model. It plans to make an entry as single brand retailer in 2017.

“We ended our partnership last year. Now, our three-year target is to capitalise on the current growth we have enjoyed in the Indian market,” Colonel Chandoke, newly appointed MD and CEO, Victorinox India, told BusinessLine .

The company, which is globally renowned for its flagship Swiss army knives, said it plans to bring in its apparel and watch range in India by 2017.

Chandoke said the company plans to have 14 Gute Reise stores by end of 2016 with an estimated investment of ₹35-40 crore. It also said that locations have been identified in key markets.

“We will be retailing our travel gear, cutlery (including kitchen knives), besides its Swiss knives. Both the segments are doing extremely well and we plan to further strengthen their presence,” Chandoke added.

Asked if the company plans to have its own e-commerce platform, he said the Victorinox is currently building up its own e-commerce channel. “We plan to convert the Gute Reise stores as an omni-channel retail platform after we set up mono brand Victorinox stores”.

While Gute Reise stores will be around 800-1,300 sq feet in size, Victorinox stores will be around 1,500-2,000 sq feet.

Last year in November, the government had allowed single-brand retailers with foreign investment to sell online. But the rule that mandates single-brand retailers to locally procure 30 per cent of their goods sold in India over a span of five years. The new policy will allow the retailer to meet the norm from the time it opens the first store. Until now, the five-year deadline started from the date of receipt of foreign direct investment (FDI).

Asked about the company’s current revenue from the Indian operations, Chandoke said it currently stands at ₹75 crore. “Our target is to take it to ₹150 crore in the next two years”.

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