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Victorinox views apparel as good growth prospect

27/10/2010
The brand behind the famous Swiss Army Knife, Victorinox, is to push its clothing range globally. President of its fashion division, Joachim Beer, has said the company hopes apparel will become its second-most important product line in the course of the next ten years.

Victorinox has been pursuing a strategy of product diversification since 2001, after the attacks on September 11 led to a ban on air travelers carrying its main product in carry-on luggage. The company says this caused a sharp 30% fall in sales of its knives.

Its range of products now includes bags, watches, gardening tools and even fragrances. Knives account for 40% of its sales now, while clothing is one of its smaller segments with a 5% share. But with a clothing collecting comprising outdoor jackets, trekking suits and other technical garments, Mr Beer is confident the brand will soon become better known for apparel.

To help with this, Victorinox will open a new flagship store in Düsseldorf in spring 2011, along with four smaller own-brand boutiques in the US, Europe and Asia. The company said it will keep this momentum going by opening ten new outlets a year.

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