Tumi Archives - Inside Retail Asia
Net Samsonite sales were up 8.4 per cent on a constant-currency basis to US$3.797 billion in the year to December 31.
Rapid Tumi expansion is powering solid sales growth for Hong Kong-listed luggage specialist Samsonite International.
Samsonite Asia sales across the group’s entire brand portfolio grew 14.4 per cent year on year.
Samsonite CEO Ramesh Tainwala has resigned with immediate effect “in the best interests of the company”.
First-quarter double-digit growth in all regions was recorded by Samsonite International.
Samsonite Asia sales lept 16 per cent last year, driven by the acquisition of Tumi.
Samsonite International had record half-year net sales of US$1.5 billion, an increase of 31.8 per cent.
Genting Simon has opened its second Genting Highlands Premium Outlets centre in Malaysia.
Continuing softness in Hong Kong, Macau and Korea sedated Samsonite Asia’s first quarter sales.
Samsonite sales grew 17.3 per cent to US$2.81 billion in the year to December 31.
The closures of retail and luxury brand giants on China’s e-commerce platforms indicate that retail competition is no less fierce online than offline.
Samsonite Asia aims to make China its biggest market through eCommerce and social media.