Victorinox bets bigger on India with exclusive stores, e-commerce push
Swiss brand Victorinox will open five exclusive stores in India by 2028 and launch a dedicated e-commerce platform in 2026 as part of its India
Swiss brand Victorinox will open five exclusive stores in India by 2028 and launch a dedicated e-commerce platform in 2026 as part of its India Vision 2030 roadmap, unveiled Friday at the company's global leadership meeting in Mumbai. The expansion reflects the maker of the iconic Swiss Army Knife's growing bet on India, one of its fastest-growing markets. “India is one of Victorinox's most strategic growth markets globally,” said Veronika Elsener, chief marketing officer, Victorinox, in a press statement. “Over the coming years, we are putting money into products, retail, digital and brand building, to create a premium, culturally relevant Victorinox experience for Indian consumers.” In addition to its signature knives, Victorinox sells watches, travel gear and cutlery.
The company said it has already recorded 41% growth in India during the January-June 2026 period, driven by its watches business, its largest category in the country. It is targeting 39% growth for calendar 2026. According to documents filed with the Ministry of Corporate Affairs, Victorinox India Pvt. Ltd reported revenue of ₹49.2 crore in FY25. Victorinox products are currently sold through 384 retail doors in India, with plans to expand that network to more than 400 by the end of 2026. Its watch business is distributed through partners including Ethos, Titan, Zimson, Golden Time and Rama. The company also plans to increase marketing spending by 20% to support the expansion. Its India strategy includes greater emphasis on contemporary colours, local consumer preferences, gifting occasions and more accessible premium price points to broaden its customer base.
Swiss watchmakers deepen India push Victorinox's expansion comes as Swiss watchmakers increasingly target India, drawn by rising luxury demand and lower import duties under the India-European Free Trade Association (EFTA) trade agreement. Swiss watch imports into India rose to about ₹3,500 crore in 2025, from ₹3,244.6 crore in 2024, according to data from the Federation of the Swiss Watch Industry (FH). The India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement provides for India's import tariff on Swiss watches to be reduced from 22% to zero over seven years, with equal annual cuts through 2031. The duty currently stands at 15.71%, down from 22% before the agreement. In April 2026, TAG Heuer opened its first franchise boutique near New Delhi, describing India as a "priority country" and setting a goal of doubling its business in the world's most populous nation within five years.
The BriefWire