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Samsonite to buy Tumi

LogoSamsoniteL/USA – In order to round off its brand portfolio in the high-priced premium segment, the globally operating suitcase specialist, Samsonite International that is based in Luxemburg, plans to take over its US-American rival, the luxury suitcase manufacturer, Tumi. According to an official press release, the two companies were able to agree on a selling price of 1.8 bil. US Dollars (approx. 1.65 billion Euros). The deal is expected to be completed by the second half of 2016, Tumi will then become a 100% subsidiary of Samsonite International, the number one on the global market.

The US manufacturer fits “perfectly“ into Samsonite strategy of reinforcing its offer for business people, explained Ramesh Tainwala, CEO of Samsonite. Tumi increased its turnover by 4% last year up to just under 548 mil. US Dollars (approx. 503 mil. Euros) and runs over 170 shops worldwide. 20 further shops are to be opened this year.

www.samsonite.com

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2016-10-28T14:12:53+00:00 March 8th, 2016|