Retail in Asia

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Samsonite takes direct control of Tumi products in China

Tumi Samsonite Luggage Hong Kong Macau China - Retail in Asia

Samsonite International S.A. on Wednesday said it took direct control of the wholesale and retail distribution of Tumi products in Hong Kong, Macau and China from April 1, as the luggage maker targets the region’s “enormous potential”.

Samsonite in a statement said it had acquired certain assets including inventory and the rights to store leases from Hong Kong-based retail and brand management group Imaginex Holdings Ltd. It did not provide details.

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Imaginex was Tumi distributor in Hong Kong, Macau and China from 2005 until the end of its contract on March 31, Samsonite said.

Samsonite completed its $1.8 billion purchase of peer Tumi Holdings Inc in August, as the world’s biggest luggage firm expands in the luxury market.

(Source: Reuters)