Samsonite Sees Tumi Sales Doubling to $1 Billion on Global Push
- Samsonite sees small distribution-led acquisitions possible
- Tumi to develop new products integrating Samsonite technology
Samsonite CEO: Rest of Year Looks More 'Hopeful'
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Samsonite International SA said it expects its luxury travel products brand, Tumi Holdings Inc. to double sales to $1 billion as the world’s largest luggage maker pushes the newly-acquired company into the global market with new, lightweight products.
Samsonite forecasts Tumi doubling its revenue, which stood at $548 million in 2015, in as little as three years, with the luxury brand launching new products using Samsonite technology by the end of next year, Samsonite Chief Executive Officer Ramesh Tainwala said Tuesday in an . Samsonite plans to distribute Tumi’s products in China and expect strong growth there, he said.