LONDON — Victorinox is moving its travel gear product division in house, with the aim of taking the category deeper into international markets. The Swiss company said in a statement Friday the move marks the end of its relationship with its longtime travel gear licensee, the U.S.-based TRG Accessories.
The trasition will take effect in August, and will help Victorinox “to capitalize on synergies with existing product categories, including Swiss Army knives, cutlery, watches, fashion and fragrances,” the statement said.
The new business unit will be called Victorinox Travel Gear AG, and will be based at the company’s headquarters in Switzerland. Carsten Kulcke, has been named chief executive.
Victorinox said Kulcke would work closely with the Victorinox executive team “to capitalize on existing collaborations, and will strategically lead the company through its integration into expanded markets.”
TRG, which is headquartered in St. Louis, Missouri, has held the license for Victorinox travel goods since 1999.