Swiss Military To Establish fully-owned Manufacturing unit in India

Swiss Military Consumer Goods Limited, a lifestyle brand, has announced ambitions to acquire property in India to construct a fully-owned manufacturing operation. This acquisition is part of the Swiss Military's expansion strategy and aligns with the 'Make in India' policy.

The acquired site will be used to build a new production plant for luggage and travel accessories, catering to both domestic and foreign markets. This will improve the company's ability to meet rising demand and increase its market footprint globally. The proposed facility would be built through an owned subsidiary, SM Travel Gear Private Limited.

The property consists of land and a building with a total area of 1.21 acres and a built-up area of approximately 85000 square feet. With a production capability of 10 lakh units per year. The manufacturing unit is expected to be completed within eight months, by December 31, 2024, with an initial investment of 56.50 crore. This expenditure demonstrates the Swiss Military's dedication to innovation and operational excellence in their goods.

Anuj Sawhney, Managing Director, Swiss Military Consumer Goods Ltd., said, “With domestic and international leisure and business travel having bounced back aggressively, we have seen very robust growth in the luggage and travel gear segment. This new venture by Swiss Military CGL is aligned to our future vision of expansion in India and abroad while being part of their ‘Make in India’ movement.”

“Our own manufacturing capabilities will help establish Swiss Military’s commitment to modernization within the travel gear sector in the Indian market and to shorten go-to-market timelines with new products. It will also significantly bolster our position in the competitive global travel gear market. We trust that this new facility will be a cornerstone in our journey towards sustained growth and leadership in the industry,” Sawhney added.