Global lifestyle bag and travel luggage company Samsonite is to buy luxury brand Tumi for US$1.8bn (£1.3bn).
The group said the move would allow it to expand into the premium business and luggage segment, with “tremendous opportunities for Samsonite to leverage Tumi's Best-in-Class products”.
Commenting on the news Ramesh Tainwala, Samsonite’s CEO said:
“Tumi is a perfect strategic fit for our business. The brand is beloved by millions of loyal customers for its high quality and durable premium business and luggage products.
“We are excited about the tremendous opportunities this combination provides us to further diversify our product and customer portfolios.”
The Tumi brand launched in 1975, and is known for its premium business, travel and lifestyle products and accessories. The group creates high-end amenity kits for airlines including US carriers United and Delta (for our recent round-up of amenity kit brand partnerships, click here).
North America accounted for around 70 per cent of Tumi’s sales last year, and Samsonite will look to tap into this premium market, as well as expanding the brand in Asia and Europe.
Business Traveller recently reviewed Samsonite’s Splendor case – to read this and other luggage and technology reviews click here.