Success stories

Luxoft: Conquering the international market from Switzerland

Since its founding in April 2000, Luxoft has set out to use international best practices as a reference point. Its creator, Anatoly Karachinsky, who also owns the IT company IBS, was inspired by the Indian IT industry. Developing custom software for the international market brings about $20 billion a year into Russia.

The business environment in Switzerland turned out to be very productive, and the company quickly made new contacts and developed new ideas for cooperation.
The business environment in Switzerland turned out to be very productive, and the company quickly made new contacts and developed new ideas for cooperation.

Luxoft set the trend of Russia being perceived as an offshore software development center. By 2014, the company had opened several offices and development centers abroad, and 95% of its income came from customers abroad. At the same time, the company started looking for a global HQ location that would reflect Luxoft’s status as a major international player.

A productive business environment and the new company’s image in Switzerland

After analyzing several jurisdictions, Luxoft’s choice fell on Switzerland, with its impeccable business reputation, extensive market of large international clients, active business community and attractive business conditions. Luxoft not only moved closer to its customers and investors, but also gained the positive image of a Swiss company. As Vasily Suvorov notes, the business environment in Switzerland turned out to be very productive, and the company quickly made new contacts and developed new ideas for cooperation. Thanks to one of those ideas, Luxoft took part in the creation of the Crypto Valley Association early in 2017, and Vasily became its vice president. Today, Luxoft is a large international corporation with 39 offices in 20 countries and more than 13,000 employees. All of this is managed from its headquarters in the Swiss town of Zug.

“The establishment of headquarters in Switzerland had a positive effect on our reputation and corporate culture. Partners and customers expect quality and stability from a European company, and we need to meet their expectations.”

Vasily Suvorov
Vice President of Technology Strategy, Luxoft
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