Lifestyle product brand Swiss Military is reportedly planning to expand its retail presence in India by opening close to 4000 new stores over the next two years.

As part of the proposed expansion, the company plans to invest INR2bn ($31.46m), The Press Trust of India reported.

Of the proposed stores, around 11 exclusive stores and 160 franchisee operations will be opened by November this year.

Swiss Military made its entry into India in 2010 with a four-phase expansion strategy.

During phase I, the retailer started its operations by offering corporate gifting solutions such as pens, wallets, key chains and others. It opened multi-brand outlets in 2014 which are currently over 550 in number.

The company has launched travel gear, sunglasses, power banks, and leather belts, as part of phase II expansion.

Swiss Military Worldwide managing director Anuj Sawhney said: "We will roll out the third phase of Indian expansion in November with a complete retail launch and franchisee operations.

"If our expansion is on track, the company is considering listing on the Indian bourses by 2017, which is the fourth phase of our India strategy."

Swiss Military currently has operations across 26 countries and brand registration across 40 markets.