Swiss Military to Invest Rs. 56.5 Crore in New Manufacturing Unit in Haryana

Swiss Military, the global lifestyle brand, announced on Friday that it will establish its first fully owned manufacturing unit in India, located in Haryana, with an initial investment of Rs. 56.5 crore.

The company plans to set up the new facility in Faridabad, Haryana, where it will focus on manufacturing luggage and travel gear, according to a statement from Swiss Military Consumer Goods Ltd. The manufacturing unit will span 1.21 acres with a built-up area of approximately 85,000 square feet, and it is expected to have a production capacity of 10 lakh pieces per year.

The targeted completion date for the manufacturing unit is December 31, 2024, with Swiss Military intending to invest Rs. 56.5 crore in the project. The new facility is designed to bolster Swiss Military's commitment to innovation and modernisation within the travel gear sector in the Indian market, while also expediting the launch of new products.

Anuj Sawhney, Managing Director of Swiss Military Consumer Goods Ltd, stated, "Our own manufacturing capabilities will help establish Swiss Military's commitment to modernisation within the travel gear sector in the Indian market and to shorten go-to-market timelines with new products."

He added, "This new facility will 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."

Sawhney noted that with domestic and international leisure and business travel bouncing back aggressively, Swiss Military has experienced robust growth in the luggage and travel gear segment. The new manufacturing unit in Haryana is expected to support this growth and further strengthen the brand's presence in the market.

BS