Swiss Military to introduce women’s range shortly!
In an exclusive interaction with Anuj Sawhney, Managing Director, Swiss Military Lifestyle Products sheds light on growth strategy of the brand.BY Shipra Srivastava | November 14, 2017 | comments ( 0 ) |
Swiss Military was the part of Opportunity India Summit 2017 which was recently held in the capital city New Delhi. Also present at occasion Anuj Sawhney, Managing Director, Swiss Military Lifestyle Products interacted with indianretailer.com at the sidelines of the event. Interview excerpt..
Shed light on the brand journey so far. What are the plans to extend the brand from here?
We are the global brand present across over 26 countries with 1900 SKUs. We are the fastest growing brand. India happens for us around four years back. We started with corporate gifting and today we stand at top spot in that segment across the country. Then we forayed into in-flight sales space with distinguished partners such as Indigo, Jet Airways etc. Now we are coming into retail formats; in fact, we had introduced shop-in-shop (SIS) format two years back with partners such as Shoppers Stop, Planet M, Crossword, etc. Today, we have about 600 multi brand outlets, among this 70% is mass retail. And, this is first time in India we are launching our franchised stores shortly.
How many franchised stores the brand plans to open also what would be ideal locations for franchise expansion?
We aim to open 400 stores over next two years. In pilot phase, we will be targeting tier 1 and tier II cities. Since we are a luxury brand with affordable price point, these are very exciting markets for us. This is the first time a global luxury brand will be available to mass market in India.
What kind of product range will be introduced via franchised stores?
We cater to everything right from sunglasses to travel gear to electronics in the men’s category. We are about to launch a new brand ‘Swissmiss’ that would be catered to women audience. We have already launched sunglasses under this brand and by January when the store will be in existence we would be introducing ladies’ wallet, clutches, handbags and footwear.
Any plans to open company owned stores as well along with franchise expansion?
As a brand we would also invest; however, initial focus is open franchised stores at elite locations such as airport, exclusive malls. Though, we might consider joint business model with our franchise partner at the later stage of our expansion.
What would be the cost of your franchising cost?
Our franchised store will be spread across 1500-1600 sq.ft. The investment would be 30 lakhs including interior, inventory, brand fees and credit limit.
At last, how you would sum-up the impact of GST on luxury sector in India?
It is a great initiative for the brand like us as we are reasonably priced despite being into luxury space. So, this is a very good time for us because the top international brands which charge in lakhs for a bag, facing a steep fall because hard cash is not available in the market due to demonetization. Government has finally realized that people cannot under invoice the products, therefore, a landed bag which is branded and a landed bag which is unbranded is on same landing price only difference is quality. Price parity is ensured with GST.