Supplier firm Victorinox has assumed full responsibility for its Travel Gear product license, which had previously been managed in the ad specialty and incentive markets by TRG Group (asi/90507).
The transaction, which will become fully effective in August 2014, calls for a transition period that will provide Victorinox with the ability to develop and expand its luggage portfolio and related products in a growing number of international markets.
TRG had held the license for the Victorinox travel goods division since 1999. “TRG has been an important partner for Victorinox and helped the brand successfully build its Travel Gear business,” Carl Elsener, CEO of Victorinox Group, said in a statement.
Along with the transaction to take over its own license, Victorinox has formed a new division, Victorinox Travel Gear AG, which will be based at the company’s headquarters in Switzerland. Carsten Kulcke has been named CEO of the new unit and he will work closely with the Victorinox executive team to capitalize on existing collaborations and will strategically lead the company through its integration into expanded markets.
Separately, the company has named Kipp Acton as senior vice president of sales for Victorinox Swiss Army Inc. Acton most recently held the position of vice president of wholesale for Swarovski NA.