Swiss Military to invest Rs 56.5 crore to set up manufacturing unit in Faridabad

New Delhi: Global lifestyle brand Swiss Military, on Friday, said it will set up its first fully owned manufacturing unit in Faridabad, Haryana with an initial investment of Rs 56.5 crore within 8 months by 31st Dec 2024, the company said in a media statement.

Spread over 1.21 acres and a built-up area of about 85,000 square feet, the plant will have a production capacity of 10 lakh pieces per year, it said.

Anuj Sawhney, managing director of the company said, "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."

"It will also 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," he added.

Sawhney said with domestic and international leisure and business travel bouncing back aggressively, the company has seen very robust growth in the luggage and travel gear segment.

"This new venture by Swiss Military is aligned to our future vision of expansion in India and abroad while being part of their 'Make in India' movement," he shared.