Swiss Military to set up manufacturing plant in Haryana this year

Travel gear, accessories, and lifestyle brand Swiss Military plans to establish its first fully owned India manufacturing plant in Faridabad in Haryana by the end of this calendar year and with an investment of Rs 56.5 crore.

“Our own manufacturing capabilities will help establish Swiss Military’s commitment to modernisation within the travel gear sector in the Indian market and to shorten go-to-market timelines with new products,” said Swiss Military’s managing director Anuj Sawhney, ET Retail reported. “It will also significantly bolster our position in the competitive global travel gear market.”
 
The manufacturing unit will be able to produce 10 lakh individual products annually. The business will build on a 1.21 acre plot of land in the Faridabad area.
 
“We trust that this new facility will be a cornerstone in our journey towards sustained growth and leadership in the industry,” said Sawhney. “This new venture by Swiss Military is aligned to our future vision of expansion in India and abroad while being part of their ‘Make in India’ movement.”
 
Swiss Military announced in August last year that it plans to reach 10,000 retail touch points in the coming five years. The business is aiming at a compound annual growth rate of 30% and also aims to expand both its brick-and-mortar store presence and its presence in general trade in the Indian market.