Swiss model Victorinox will open 5 unique shops in India by 2028 and launch a devoted e-commerce platform in 2026 as a part of its India Imaginative and prescient 2030 roadmap, unveiled Friday on the firm’s international management assembly in Mumbai. The growth displays the maker of the enduring Swiss Military Knife’s rising wager on India, certainly one of its fastest-growing markets.
“India is certainly one of Victorinox’s most strategic progress markets globally,” mentioned Veronika Elsener, chief advertising officer, Victorinox, in a press assertion. “Over the approaching years, we’re placing cash into merchandise, retail, digital and model constructing, to create a premium, culturally related Victorinox expertise for Indian customers.”
Along with its signature knives, Victorinox sells watches, journey gear and cutlery.
The corporate mentioned it has already recorded 41% progress in India in the course of the January-June 2026 interval, pushed by its watches enterprise, its largest class within the nation. It’s focusing on 39% progress for calendar 2026.
In keeping with paperwork filed with the Ministry of Company Affairs, Victorinox India Pvt. Ltd reported income of ₹49.2 crore in FY25.
Victorinox merchandise are at present bought via 384 retail doorways in India, with plans to broaden that community to greater than 400 by the top of 2026. Its watch enterprise is distributed via companions together with Ethos, Titan, Zimson, Golden Time and Rama.
The corporate additionally plans to extend advertising spending by 20% to help the growth. Its India technique contains larger emphasis on up to date colors, native client preferences, gifting events and extra accessible premium worth factors to broaden its buyer base.
Swiss watchmakers deepen India push
Victorinox’s growth comes as Swiss watchmakers more and more goal India, drawn by rising luxurious demand and decrease import duties beneath the India-European Free Commerce Affiliation (EFTA) commerce settlement.
Swiss watch imports into India rose to about ₹3,500 crore in 2025, from ₹3,244.6 crore in 2024, in line with information from the Federation of the Swiss Watch Trade (FH).
The India-European Free Commerce Affiliation (EFTA) Commerce and Financial Partnership Settlement offers for India’s import tariff on Swiss watches to be lowered from 22% to zero over seven years, with equal annual cuts via 2031. The obligation at present stands at 15.71%, down from 22% earlier than the settlement.
In April 2026, TAG Heuer opened its first franchise boutique close to New Delhi, describing India as a “precedence nation” and setting a purpose of doubling its enterprise on this planet’s most populous nation inside 5 years. Rado, in the meantime, has emerged because the model’s largest international market, with a dominant place within the ₹1 lakh- ₹5 lakh watch phase and greater than 50% market share in some classes, in line with stories.
Listed luxurious watch retailer Ethos Ltd reported a 28.8% improve in income to ₹1,612.2 crore in FY26.
“Although India represents a small share of world Swiss watch exports, it has immense progress potential, pushed by an growing ultra-HNI inhabitants and increasing model retail presence,” in line with the Kotak Non-public Luxurious Index Report of 2025.
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