Samsonite Announces Purchase of Tumi
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According to a statement by Landry, Vice President of Special Markets for Tumi, “Samsonite is one of the world’s best known and largest lifestyle bag and travel luggage companies, with a heritage dating back more than 100 years. Importantly, Samsonite is a company built on many unique brands, and they have a proven track record of successfully growing these brands. One of the things that is very attractive to us about this transaction with Samsonite is that they recognize the extraordinary value proposition that Tumi represents. Samsonite has great appreciation for Tumi’s outstanding brand awareness with consumers, the strength and loyalty of our customer base and our leadership position in the highly attractive premium and business segment of the market. Samsonite is committed to our brand and is not looking to compromise or change it.”
He adds: “We are excited about the opportunity this transaction with Samsonite provides to bring our products to customers and consumers in additional markets worldwide. As part of Samsonite, we will be even better positioned to expand in Asia and Europe, while also further growing our business in North America. Together, we will have greater resources and capabilities that will enable us to be an even stronger business partner to the industry. The transaction is expected to close in the second half of 2016, during which time Tumi and Samsonite will continue to operate as independent companies. We will continue to fill all orders on time and in the normal course, as usual.”