– Plans to set up the first fully owned manufacturing unit for luggage and travel gear in Faridabad – Haryana.
Swiss Military Consumer Goods Limited, the globally acclaimed lifestyle brand known for its premium and innovative products, today announced its plans to acquire property to establish the Company’s first fully owned manufacturing unit in India. This acquisition marks a pivotal step in Swiss Military’s strategic expansion, aligning with the ‘Make in India’ initiative. The acquired site is earmarked for a new manufacturing facility for luggage and travel gear, intended to cater to both domestic and international markets. This will enhance the Company’s capability to meet growing demand and expand its market footprint globally. The proposed facility shall be established through a wholly owned subsidiary – SM Travel Gear Private Limited.
The property involves land and building with an approximate area of 1.21 acres and a built-up area of about 85000 sq. feet. With a production capacity of 10 Lakh pieces per year. The targeted completion for the manufacturing unit would be within 8 months by 31st Dec 2024 at an initial investment of 56.50 Cr. This investment further emphasises Swiss Military’s commitment towards innovation and operational excellence for their products.
On the occasion, Anuj Sawhney, Managing Director, Swiss Military Consumer Goods Ltd, stated, “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”, he added.
Swiss Military has been hyper focused on the Indian consumer base, seeking high-quality travel gear at accessible price points. By presenting qualitative products without compromising on affordability, Swiss Military is dedicated to elevate the travel experience for its customers and become their preferred travel companion for the Indian traveller.
