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Swiss Army shows off new Monroe HQ PAM DAWKINS pdawkins@ctpost.com Connecticut Post Online Article Launched:10/01/2007 11:45:05 PM EDT MONROE — On a day meant to recognize green, the red was hard to escape Monday at Victorinox Swiss Army Inc.'s newly opened North American headquarters and distribution center. From the color of the Victoria Street sign to the scarves many employees wore to the background of the Swiss flag and the company's logo, the red stood out — and that was before the tours of the "green" building began. Charles Elsener, president of the Swiss parent Victorinox Group — and great-grandson of Karl Elsener who, in 1897, created the original Swiss Army Knife — even noted the color of the street sign, thanking Monroe officials for cooperating in its creation. The street is named for Charles Elsener's great-great-grandmother, Victoria. The company started the 160,000-square-foot building in May 2006. In July, it moved more than 100 administrative workers from 1 Research Drive in Shelton to the 26-acre Monroe site; the 77 distribution center workers moved more recently from 65 Trapp Falls Road. Bic plans to move its North American headquarters to the 1 Research Drive offices in the first quarter of 2008. Monday's event attracted numerous elected officials, including Lt. Gov. Michael Fedele, Attorney General Richard Blumenthal, state Sen. Bill Finch and Andrew Nunn and Ray Baldwin, the mayors of Monroe and Trumbull, respectively. In his opening Merrick "Rick" Taggart, president of Victorinox Swiss Army, recognized the "vision, inspiration and investment" of the Elsener family. After the ceremony, Elsener said he toured the area to look at the different options before the company picked Monroe. "We liked the openness" of the Monroe site, as well as its proximity to the former Shelton location. That meant the company could keep its existing workers. During his remarks, Elsener called the move "an important milestone in the history of our company." The vision is to build a global brand "where everything we do is inspired by the values and heritage of the Swiss Army Knife," Elsener said. The building, he said, also reflects the company's commitment to the environment. According to company information, the two-story structure is placed to minimize heat gain from the sun, and energy-saving equipment and materials were designed into the structure. The building uses low-energy fluorescent light bulbs and sensors to turn lights off automatically, and the company used recycled — and recyclable — materials inside. "We need more companies in Connecticut to follow Swiss Army Brand's lead," Fedele said in talking about the "forward-thinking green" building. Nunn, meanwhile, referenced the bike trail that will eventually connect the Bridgeport ferry terminal and Newtown. Developer Bob Scinto and Swiss Army worked with the town of Monroe to keep up the path, he said before the building tours. Developer John Kimball has donated land along the property for a bike trail. He's also donating the labor, materials and equipment needed to upgrade and maintain the existing trail, which will be part of the connector between Newtown and the Bridgeport ferry landing, said Arthur D. Baker, Monroe's director of public works. That project, he added, was delayed but is now scheduled to begin in October. Of the Victorinox building, Baker said, "It's a very efficient building. There's no question about that." Baker was one of dozens of elected officials, business leaders and others invited to tour the building. On a tour led by Thomas Lupinski, Victorinox Swiss Army's senior vice president and treasurer, Elsener and his wife, Veronika, and two of their children got an up-close look at the American operations. Most offices, Lupinski said, are toward the center of the building, with the cubicles nearer the windows. This allows as much natural light in as possible. "I like, very much, the indirect lighting," Elsener said as the tour moved to the second floor and past informal seating areas where employees can gather. Throughout, the white walls, black chairs and dark gray carpet are offset by red wall clocks and red cushions on benches in the offices. A fitness center next to the warehouse overlooks about three acres of future expansion space. The distribution center accounts for 120,000 square feet of the building's space; its ceilings reach 40 feet but hanging lights shorten the clearance to 36 feet, Lupinski said. "It's high-density storage," he said of the six levels of storage on each rack. A wire buried between the rows takes over guidance of the loaders from the drivers. And the computer-controlled conveyor system delivers boxes to one of three specific transport stations, for pickup by UPS, FedEx or another carrier. Watches, Lupinski said, are shipped by air; knives and cutlery make the trip via surface transportation. ----- Click photo to enlarge People pour into the new North American headquarters for... (Autumn Pinette/ Connecticut Post ) « 1 2 3 » ----------------- Swiss Army Brands (NASDAQ:SABI) One Research Drive P.O. Box 874 Shelton 06484-0874 President: J. Merrick Taggart Revenues (1997): $118.7 million Earnings (loss) 1997: ($4.0 million) No. employees: 193 Business New Haven 8/10/98 By: BNH Swiss Army Brands has come a long way since its first business activities of distributing equipment to butcher shops more than a century ago. Previously named after the original entrepreneurs, the Forschners, the company officially became Swiss Army Brands Inc. (SABI) in 1996. But a new name was not the only change. The company has long enjoyed the recognition and reputation of the famous Swiss Army brand name. However, as the 1990s draw to a close, this name recognition alone could no longer carry the business to profitability. The bottom line in 1996 was negatively impacted by a $9.9 million special charge for discontinued inventory, inessential investments and out-of-date displays and other assets. The company experienced an operating loss of $5.4 million. Without the special charges its operating income would have been $2.1 million. The company closed the year with a net loss of $5.3 million (64 cents per share). Writeoffs continued in 1997. The $2.1 million charge included $1.3 million for discontinued inventory and $0.8 million for restructuring charges. Sales for the year, at $118.7 million, represented a nine-percent decrease from 1996 revenues of $130.0 million. A 17-percent drop in sales of the Swiss Army knife, and six-percent declines in sales for both the watch and cutlery product lines contributed to the lower total sales figures. Operating losses came in at $6.9 million, with net losses at $4.0 million (45 cents per share). Management has taken steps to improve the company's sales and financial performance. In addition to restructuring and write-offs, management hired specialists such as new public relations and advertising agencies, as well as marketing, packaging and engineering consultants. New products were introduced, including additional Swiss Army brand watch styles, the Victorinox Swiss Card, Victorinox Swiss Tool and a special cut-resistant glove for sale to the food-service industry. The company also concluded an unprecedented agreement with the Swiss Federal Military Department whereby Swiss Army Brands Inc. became the sole licensee of the “Swiss Army” trademark for sunglasses, watches and other consumer items. Actions taken during the past two years may be starting to pay off. For the first quarter ended March 31, the company shows a slight improvement. Net sales of $24.6 million represented a two-percent increase over first quarter 1997 sales of $24.2 million. The increase in sales is largely attributed to their new Victorinox Swiss Card and Victorinox Swiss Tool. As well, a gross profit of $9.3 million represented a two-percent hike over the first quarter of 1997. An operating loss of $1.1 million for the first quarter 1998 marked an improvement over last year's operating loss of $1.8 million. As a result of a pre-tax gain of $1.5 million from the company's investment in a privately held firm, the company posted a net income of $286,000 (three cents per share). Disregarding this extraordinary item, the company would have incurred a net loss. The stock price has been struggling and is currently trading in the $11 range. This is nevertheless an improvement over mid-1997, when the stock price bottomed at about 9 1/8. The company has not been able to sustain an annual EPS in the $1-plus range since 1994. However, 1998 is a year of renewed promise. The company's balance sheet indicates a good working capital position and no long-term debt. Management has corrected a supply glitch for the company's new Swiss Army tool, which had negatively impacted sales figures late last year. In addition to its current products, the company is introducing a Swiss Army Armageddon line of sunglasses and 15 additional styles to the line of Swiss Army watches. If the company is able to sustain improved financial performance, this may ultimately result in an improved stock price. -------------- Department of Economic and Community Development Swiss Army Brands, Inc. Breaks Ground For New North American Headquarters in Monroe Date: June 14, 2006 Contact: Christine Johnson, New Brands, Inc., (203)944-2356 Chris Martinelli, LaForce+Stevens, (212)242-9353 GOVERNOR RELL ANNOUNCES STATE ASSISTANCE FOR $26 MILLION PROJECT Sue Rechner, President and CEO of Swiss Army Brands, Inc., a wholly owned subsidiary of Victorinox, A.G., Switzerland, which has been in business since 1884 and is known as the makers of the Victorinox Original Swiss Army Knife, announces plans to build the company’s new North American headquarters in Monroe, Connecticut. The new complex, located at 7 Victoria Drive, will include corporate offices and a warehouse facility, totaling more than 165,000 square feet on 26 acres. Excavation for the foundation started in late May 2006 with plans for completion in January 2007. The builder on the project is Robert D. Scinto Real Estate Development. Connecticut Governor M. Jodi Rell announced that the Department of Economic and Community Development will provide a $1.5 million loan to the company for the $26 million project. The funding is expected to be approved at the next State Bond Commission meeting. “We are glad to lend our financial support to this great project,” Governor Rell said. “As your partner, we want to see you grow and succeed here. We deeply appreciate and thank the Swiss Army team for believing, and more importantly, investing in Connecticut.” In addition, the Connecticut Development Authority has authorized a $650,000 sales and use tax exemption for construction materials and the town of Monroe has approved $950,000 in property tax abatements over seven years to support the building project. “This is a great step toward expanding our company’s future growth and achieving our vision to create a world class organization,” said Sue Rechner. “We have always thought of the people of Connecticut as part of the Swiss Army family. The states’ commitment and assistance to our growth enables us to continue supporting the community and contributing to Connecticut economy.” “Swiss Army is the kind of company that makes Connecticut a great state in which to live and work,” said Governor Rell. “The company’s historic legacy, focus on quality, and its commitment to customer service are ideally suited to the Connecticut work force. We are thrilled to see this renewed commitment by the company to invest in Connecticut and grow their operations here.” The North America headquarters has been in Shelton for the past 30 years and currently employs 250 people; 175 are based in Connecticut. Inspired by the world-famous Victorinox pocket knife and its unique combination of performance, precision and sophistication, the company carried this ingenuity into other brand extensions including Swiss Army Watches, Victorinox Travel Gear, and most recently Victorinox Men’s and Women’s Apparel and Victorinox Lighting Gear. Consumers can experience the breath of products by visiting high-end department and specialty stores or in the Victorinox Swiss Army flagship store in Soho, New York City. Swiss Army Brands, Inc., a wholly owned subsidiary of Victorinox, A.G., is the exclusive United States, Canadian and Caribbean marketer of VICTORINOX multi-tools and cutlery, SWISS ARMY timepieces, and, R.H. FORSCHNER BY VICTORINOX cutlery. It sells apparel throughout the world under the VICTORINOX trademark and has flagship retail stores in the New York and Tokyo. Under license from Victorinox A.G., the Company sublicenses the VICTORINOX trademark and the famous Victorinox Cross and Shield to selected manufacturers and distributors of fine products including VICTORINOX travel gear and VICTORINOX LED Lighting Gear. The company Web site is located at www.swissarmy.com. Swiss Army Brands, Inc. is based in Shelton, CT. “VICTORINOX”, the famous Victorinox Cross and Shield, and “SWISS ARMY” are trademarks owned by Victorinox AG and its affiliates and are registered in many countries. --- Victorinox Swiss Army opens Headquarters -- JCK-Jewelers Circular Keystone, 10/3/2007 10:23:00 AM The new North American corporate headquarters of Victorinox Swiss Army, Inc. was officially opened Oct. 1 in Monroe, Conn. In attendance at the ribbon-cutting ceremony were Rick Taggart, the company president; Charles and Veronika Elsener, founding family members of the Swiss parent firm; Michael Fedele, Connecticut Lt. governor; Richard Blumenthal, Connecticut’s attorney general, as well as other state, town and chamber of commerce officials, key retailers and employees. “We are proud to be a part of Connecticut’s strong economy and continued growth and are honored to unveil this state-of-the-art facility.” Taggart said. Charles Elsener, Fedele, and Blumenthal also spoke at the ceremony. The facility, which has some 200 employees, is both the official North American headquarters and the official distribution center of Victorinox Swiss Army timepieces, multi-tools, and men’s and women’s apparel. It's also a timepiece and multi-tool repair center. Victorinox Swiss Army, Inc. is a wholly owned subsidiary of Victorinox, A.G., of Switzerland, the exclusive United States, Canadian, and Caribbean marketer of Victorinox Swiss Army timepieces, Victorinox multi-tools, forged cutlery, LED lighting products, and R. H. Forscher by Victorinox cutlery. « Back | Print © 2007, Reed Business Information, a division of Reed Elsevier Inc. All Rights Reserved. Advertisement ---- Swiss Army shows off new Monroe HQ PAM DAWKINS pdawkins@ctpost.com Connecticut Post Online Article Launched:10/01/2007 11:45:05 PM EDT MONROE — On a day meant to recognize green, the red was hard to escape Monday at Victorinox Swiss Army Inc.'s newly opened North American headquarters and distribution center. From the color of the Victoria Street sign to the scarves many employees wore to the background of the Swiss flag and the company's logo, the red stood out — and that was before the tours of the "green" building began. Charles Elsener, president of the Swiss parent Victorinox Group — and great-grandson of Karl Elsener who, in 1897, created the original Swiss Army Knife — even noted the color of the street sign, thanking Monroe officials for cooperating in its creation. The street is named for Charles Elsener's great-great-grandmother, Victoria. The company started the 160,000-square-foot building in May 2006. In July, it moved more than 100 administrative workers from 1 Research Drive in Shelton to the 26-acre Monroe site; the 77 distribution center workers moved more recently from 65 Trapp Falls Road. Bic plans to move its North American headquarters to the 1 Research Drive offices in the first quarter of 2008. Monday's event attracted numerous elected officials, including Lt. Gov. Michael Fedele, Attorney General Richard Blumenthal, state Sen. Bill Finch and Andrew Nunn and Ray Baldwin, the mayors of Monroe and Trumbull, respectively. In his opening Merrick "Rick" Taggart, president of Victorinox Swiss Army, recognized the "vision, inspiration and investment" of the Elsener family. After the ceremony, Elsener said he toured the area to look at the different options before the company picked Monroe. "We liked the openness" of the Monroe site, as well as its proximity to the former Shelton location. That meant the company could keep its existing workers. During his remarks, Elsener called the move "an important milestone in the history of our company." The vision is to build a global brand "where everything we do is inspired by the values and heritage of the Swiss Army Knife," Elsener said. The building, he said, also reflects the company's commitment to the environment. According to company information, the two-story structure is placed to minimize heat gain from the sun, and energy-saving equipment and materials were designed into the structure. The building uses low-energy fluorescent light bulbs and sensors to turn lights off automatically, and the company used recycled — and recyclable — materials inside. "We need more companies in Connecticut to follow Swiss Army Brand's lead," Fedele said in talking about the "forward-thinking green" building. Nunn, meanwhile, referenced the bike trail that will eventually connect the Bridgeport ferry terminal and Newtown. Developer Bob Scinto and Swiss Army worked with the town of Monroe to keep up the path, he said before the building tours. Developer John Kimball has donated land along the property for a bike trail. He's also donating the labor, materials and equipment needed to upgrade and maintain the existing trail, which will be part of the connector between Newtown and the Bridgeport ferry landing, said Arthur D. Baker, Monroe's director of public works. That project, he added, was delayed but is now scheduled to begin in October. Of the Victorinox building, Baker said, "It's a very efficient building. There's no question about that." Baker was one of dozens of elected officials, business leaders and others invited to tour the building. On a tour led by Thomas Lupinski, Victorinox Swiss Army's senior vice president and treasurer, Elsener and his wife, Veronika, and two of their children got an up-close look at the American operations. Most offices, Lupinski said, are toward the center of the building, with the cubicles nearer the windows. This allows as much natural light in as possible. "I like, very much, the indirect lighting," Elsener said as the tour moved to the second floor and past informal seating areas where employees can gather. Throughout, the white walls, black chairs and dark gray carpet are offset by red wall clocks and red cushions on benches in the offices. A fitness center next to the warehouse overlooks about three acres of future expansion space. The distribution center accounts for 120,000 square feet of the building's space; its ceilings reach 40 feet but hanging lights shorten the clearance to 36 feet, Lupinski said. "It's high-density storage," he said of the six levels of storage on each rack. A wire buried between the rows takes over guidance of the loaders from the drivers. And the computer-controlled conveyor system delivers boxes to one of three specific transport stations, for pickup by UPS, FedEx or another carrier. Watches, Lupinski said, are shipped by air; knives and cutlery make the trip via surface transportation.