( CNN ) -- The creators of the Swiss Army Knife are expanding into more `` ca n't leave home without it '' products . This time , the company behind the much-loved pen-knife is turning its design skills to socks . Victorinox is expanding into new areas as it seeks to combat the pressures of Switzerland 's strong currency . Alongside socks , time pieces and fragrances are on offer . While the products may seem diverse , there are commonalities , Victorinox chief executive Carl Elsener told CNN 's Richard Quest . `` They are a companion for our customers , and they all are inspired by the values , and the heritage , of this little red knife . And these values are high quality , functionality , innovation and iconic design , '' he said . Elsener said the strength of Switzerland 's currency , the franc , had eaten into margins , forcing the company to be `` more innovative than our competitors in the rest of the world . '' Last year Switzerland 's central bank pegged the franc to the euro in attempt to stabilize the currency . The Swiss National Bank 's move meant the franc would not drop below 1.20 to the euro . Elsener said this tactic extinguished the fear among Swiss companies that the franc would go to parity with the euro . He said `` This was a big relief for most Swiss companies who depend on exportation . '' The Victorinox dynasty was founded in 1884 by Karl Elsener Sn . and the company -- famed for its cross in a shield emblem -- has been handed down through generations . Elsener said corporate sustainability rather than quarterly results were of paramount importance to the group . He said : `` Our family has always really considered the company not just our own , but as something that has been entrusted to us . `` The goal of the foundation is to try to keep Victorinox , in the long term , financially independent , and to make sure that during an inheritance the company is not financially weakened , '' he added . CNN 's Oliver Joy contributed to this report .
The makers of the Swiss Army Knife , Victorinox , are expanding into more `` ca n't leave home without it '' products . A strong Swiss franc has forced the penknife maker to innovate and produce a range of consumer goods . The company is now selling socks , time pieces and fragrances .