Samsonite International S.A. Announces Change of Corporate Name to Samsonite Group S.A.
Rhea-AI Summary
Samsonite International S.A. announced that shareholders approved changing the company's name to Samsonite Group S.A. at an extraordinary general meeting on January 23, 2025. The company's stock code on the Hong Kong Stock Exchange (1910) remains unchanged.
The new name better reflects the company's portfolio of brands, which includes their core market-leading brands: Samsonite®, the top-ranked global luggage brand; Tumi®, a performance luxury brand with growth opportunities in Asia and Europe; and American Tourister®, offering quality products at accessible price points. The portfolio also includes complementary brands Gregory®, Lipault®, and Hartmann®.
CEO Kyle Gendreau stated that the new name communicates a more defined corporate identity aligned with their goal of becoming the most sustainable lifestyle bag and travel luggage company globally.
Positive
- Strong brand portfolio with three market-leading core brands
- Growth potential for Tumi brand in underpenetrated Asian and European markets
Negative
- None.
News Market Reaction
On the day this news was published, SMSEY declined 1.54%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
New corporate name better reflects portfolio of customer-centric, iconic brands
"We believe our new name – Samsonite Group – better reflects the Company's portfolio of customer-centric, iconic brands, led by our trio of market-leading core brands Samsonite®, the top-ranked global luggage brand trusted around the world and synonymous with luggage; Tumi®, a performance luxury brand known for its premium quality, technical innovation and exceptional functionality with significant opportunity to grow sales in underpenetrated markets, especially in
"Along with complementary brands, including Gregory®, Lipault® and Hartmann®, all with distinct DNA and serving unique market segments, we are poised to continue meeting the travel and non-travel bag needs of a wide range of customers worldwide. We believe the new name communicates a more defined corporate identity that reflects our progress toward becoming the most sustainable lifestyle bag and travel luggage company in the world as we continue to enhance our leadership position in an attractive and growing industry."
About Samsonite
With a heritage dating back more than 110 years, Samsonite Group S.A. ("Samsonite" or the "Company", together with its consolidated subsidiaries the "Group"), is a leader in the global lifestyle bag industry and is the world's best-known and largest travel luggage company. The Group is principally engaged in the design, manufacture, sourcing and distribution of luggage, business and computer bags, outdoor and casual bags and travel accessories throughout the world, primarily under the Samsonite®, Tumi®, American Tourister®, Gregory®, High Sierra®, Kamiliant®, Lipault® and Hartmann® brand names as well as other owned and licensed brand names. The Company's ordinary shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK").
For more information, please contact: | ||
Samsonite Group S.A. Tel: +1 508 851 1586 | Samsonite Group S.A. – Tel: +852 2422 2611 | |
Alvin Concepcion Email: | William Yue Email: | Helena Sau Email: |
Tel: +1 212 355 4449 Michael Freitag / Tim Ragones / Ed Trissel Email: Samsonite-JF@joelefrank.com | ||
FAQ
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