Swiss Military Consumer Goods Ltd Company Summary

Swiss Military Consumer Goods Ltd Summary

Swiss Military Consumer Goods Limited (Erstwhile Network Limited) was incorporated on January 25, 1989. The name of the Company was later changed from Network Limited to Swiss Military Consumer Goods Limited effective on December 4, 2020.The Company initially engaged in Trading & Investment in Capital Market and Futures & Options Segment. The Company has a collaboration with Canon, Japan, and Medison Company, South Korea, for transfer of technology. At present, Company is primarily engaged in the business of trading and marketing of lifestyle products of all kinds including but not limited to Travel Gear, Home Appliances Vertical and Mens Innerwear & Loungewear verticals, under the brand Swiss Military.The company came out with a public issue of partly convertible debentures in Jan.92 to meet long-term working capital requirements.During the period 2004-05, PPS Towers Private Limited acquired 9,014,152 equity shares from HCL Peripherals Limited, through Share Purchase Agreement dated 19 November, 2004 constituting 74.99% of the total, issued, subscribed and paid up capital of the Company and 3451 equity shares from the Resident Indian Public through Open Offer dated 29.12.2004 made to the Shareholders of the Company. With such acquisition. PPS Towers Private Limited become the Holding Company of the erstwhile Holding Company i.e Network Limited.The Innerwear Category is one of the high growth categories in the apparel market and promises growth and innovation. The higher income, along with higher discretionary spending, growing fashion orientation of consumers and product innovations by the innerwear market have turned innerwear from a traditionally utilitarian item to an essential fashion requirement. The Indian innerwear market is shifting from a price sensitive market to a fashion quotient market. The products in Appliance category are promoted/marketed by the Company are sourced from various OEMs who work on contract basis. These original equipment manufacturers (OEMs), manufacture the final products based on the specifications and quality benchmark provided by the Company. In the Baggage/Travel Gear category, Company has been offering Innovative solutions and addresses the ever- evolving needs of the travellers across India. The Company addresses the luggage needs of young visionaries and leaders who are relentless in their pursuit of the next big idea and the next revolution. The product range straddles price points, enabling customers to engage with the brand specifically designed for their budget and lifestyle. These products are crafted for superior performance and are put through most stringent quality tests. The quality of products is complemented by after-sales services provided across the brand portfolio.With a growing network of more than 590 dealers & touch points across the country, the Company built a noteworthy presence in a very short span of time. Company emerged stronger and is well positioned to harness the long-term growth opportunities in India. For ever growing ecosystem, the Company has been working towards technology implementation to get real time data for real time solutions which eases operations and help in grow the business model exponentially.The Company was taken over by the present promoters in September, 2020 as Network Limited. During the Financial Year 2022-23, Company have acquired 100% shareholding of AAA Shenyang Container Seal Private Limited and established a wholly owned subsidiary of the Company for RFID Seal business.During Financial Year 2023-24, Company have incorporated a wholly owned subsidiary company i.e. SM Travel Gear Pvt Ltd, for setting up manufacturing facility of Luggage and Travel Gear.