The 125 year history of Victorinox is characterized by perseverance and continunal growth. Typical Swiss characteristic set the tone for the corporation's development. In 1884, the cutler and entrepreneur Karl Elsener opened a cutler’s business in Ibach-Schwyz, which is in Central Switzerland. In the course of its 125-year history, it developed into a global company. Victorinox was founded at a time when Switzerland was still one of the poorer countries in Europe. Around 1880, many Swiss were unemployed and felt they had no option but to emigrate. In spite of these difficult economic conditions, the cutler Karl Elsener took the initiative and laid the foundations for a thriving company by opening his cutler’s business. The company founder’s pioneering spirit, honesty and deep roots in the region have accompanied the history of the Victorinox company over the last 125 years and live on in its philosophy and products. Continuity also characterizes the organization: since its founding in 1884, Victorinox has remained a family company and it has stayed independent to this day. The Elsener family, who founded the company, owns 10 percent of the shares. The other 90 percent are owned by Victorinox’s foundations. This model will secure the company’s future and provide job security in the long term.