Luxury lifestyle brand Swiss Military has drafted plan to aggressively expand in India in the next 18 months by venturing into newer categories through licensing agreements along with strengthening its distribution network.
Recently the brand has struck a licensing deal with Firefox Bikes to extend its presence in the adventure bicycles segment. Under this agreement, Firefox will be launching four co-branded models of adventure bikes targeted at the youth. The premium bikes are expected to be launched in the major cities and tier-I markets by June.
Commenting on the market potential for adventure biking, Anuj Sawhney, MD, Swiss Military asserted, “There is a growing segment of consumers with high disposable incomes, which is taking to adventure biking and we see a huge potential in this segment. We believe our partnership with Firefox Bikes is synergistic as we have similar brand personalities.”
The brand is already in talks for inking more licensing partnerships to foray into new segments such as garments, footwear, motorcycle helmets, home security devices as well as white goods in India in the next two years. In words of Sawhney, adding licensing agreements to foray into new segments is in-line with the company’s global strategy.
The company, which entered India through channels such as in-flight shopping, corporate gifting and e-commerce, is also stepping up its retail presence. Currently, its products such as travel gear, writing instruments and accessories, are being sold through 800 multi-brand outlets.
“We believe the time is now right for us to have exclusive stores. We plan to have 170 exclusive stores that will open in the next 18 months. Out of these, 160 will be franchisee-run and the rest will be company-owned stores,” he added.
The company already has a strong presence across e-commerce channels and hopes to complement this by setting up its own e-commerce portal and mobile App, which are slated to be launched in the next few days.