Victorinox is taking over full responsibility for its Travel Gear product division from licensee, TRG Accessories, LLC (TRG), the company announced today. Additionally, Victorinox has announced the formation of a new Travel Gear business unit to facilitate expansion into international markets and to strengthen the overall Victorinox global brand umbrella.
Effective in August 2014, the transition will provide Victorinox with the ability to further develop and expand its luggage portfolio and related products in a growing number of international markets. It will also help capitalize on synergies from its existing product categories, including Swiss Army Knives, Cutlery, Timepieces, Fashion and Fragrances, said the company. U.S.-based TRG, headquartered in St. Louis, has held the license for the Victorinox travel goods division since 1999.
“TRG has been an important partner for Victorinox and has helped the brand successfully build its Travel Gear business,” said Carl Elsener, CEO Victorinox Group.
Victorinox’s new business unit, Victorinox Travel Gear AG, based at its headquarters in Switzerland, will be headed by Carsten Kulcke, who has been named CEO of the division.
