Victorinox to open independent shops in Mexico

Swiss army knives

company Victorinox will open its first independent shops this year in Mexico City, Guadalajara, Puebla, and Monterrey.

“We plan to open our first brand store in August . We have already signed a contract, and we would like to make ourselves present in Mexico City in three to five years. We want to open three to five shops in the city, and some others in Guadalajara, Puebla, and Monterrey,” said Karl Kieliger , head of Victorinox, Mexico.

In an interview with EL UNIVERSAL , the executive explained: “To have our own shops will be a valuable tool for promotion because we will be able to stock products however we like and put all our stock on display. That’s our objective.”

Victorinox currently has 5,200 sales outlets in Mexico and the company works with 3,000 clients that operate the establishments. The Swiss company obtains 35% of their revenue in the country for the sale of the classic premium knife , although there are other sources of income.

“We’re working on a project that consists of a mobile showroom , a mobile store that will serve as a sales outlet as well as a museum . We have attended different festivals and events to promote our brand. We’re also planning to launch our own e-commerce portal on September or October of this year,” he added. On 2018 , Victorinox estimates a 15% growth in sales , which would equal last year’s growth rate.

In its first quarter of 2018, the company accumulated a revenue growth of 10% , which is why it foresees an increase in sales in the second half of the year.

“We’ve fallen a little behind on our goal. As any other brand, we are subject to the business cycle,” added Kieliger, who stated that the company intends to exploit the soccer euphoria brought on by the Russia World Cup 2018 . Victorinox will offer new products and focus its efforts on gaining prominence in this type of field.

“We always try to get ahead of all sorts of challenges, and the World Cup will help us counterbalance the problems of the presidential election ; we have an official product that has already been approved,” he commented.

In addition to the knife sales revenue, Victorinox’s income distribution in Mexico includes 25% for travel products sales , 15% for the commercialization of other knives , and the remaining percentage for the sale of watches .

Mexico is the firm’s fifth largest market

after the US, Germany, Switzerland, and China . When asked about the possibility of entering the Mexican Stock Exchange, or seizing an opportunity in the domestic financial market, Kieliger said that the firm has always been known for being a family business , thus ruling out its entrance to the stock market.

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