Samsonite International S.A. Establishes Brand Development and Sourcing Hub in Singapore to Align Regional Product Development, Brand Management and Supply Chain Operations
Samsonite International S.A. announced the establishment of a brand development and sourcing hub in Singapore on August 11, 2021. This initiative stems from a global restructuring plan aimed at enhancing product development, brand management, and supply chain operations across Asia. The hub will position Samsonite closer to its market for improved product design and sourcing management. This move is expected to yield long-term financial benefits and strengthen Samsonite's operational infrastructure in the key Asian market, ensuring continued growth as the global travel industry recovers.
- Establishment of a brand development and sourcing hub in Singapore to enhance product development and brand management.
- Positioning closer to market for improved product design and sourcing management.
- Expected long-term financial benefits and operational efficiency improvements.
- None.
HONG KONG, Aug. 11, 2021 /PRNewswire/ -- Samsonite International S.A. ("Samsonite" or "the Company", together with its consolidated subsidiaries, "the Group"; SEHK stock code: 1910), a leader in the global lifestyle bag industry and the world's best-known and largest travel luggage company, today announced the establishment of a brand development and sourcing hub in Singapore as part of a global restructuring initiative to enhance alignment of the Company's product development, brand management and supply chain operations across Asia. The establishment of the brand development and sourcing hub builds on Samsonite's 25-year history in Singapore.
The establishment of this hub will enable the Company to design products closer to market while continuing to lead the industry in product development, innovation and sustainability for several key brands, including Samsonite and American Tourister. Samsonite will also leverage this hub to manage sourcing for Asia and the Middle East, while supporting and administering sourcing for North America and Latin America. Samsonite's Asia regional leadership is in the process of relocating to Singapore to support the hub and manage the Company's continued business growth in Asia.
Certain corporate and regional functions will continue to be based in Hong Kong, as will the base of operations for the Tumi brand in Asia, and a sales office that supports Samsonite's Hong Kong SAR and Macau SAR business.
"The decision to establish a brand development and sourcing hub in Singapore follows a global study and rigorous analysis of our business and the broader industry in today's consumer and travel marketplace," said Kyle Gendreau, Samsonite's Chief Executive Officer. "This hub will support the continued growth of the Asia region, which is an increasingly important part of our global business, while yielding long-term financial and operational benefits for the Company and our stakeholders as we continue to focus on enhancing efficiency. We appreciate the support of the Singapore Economic Development Board (EDB) in our efforts to enhance Samsonite's operational infrastructure in Asia, and we look forward to capitalizing on future growth opportunities from this hub as the global travel industry rebounds."
"Samsonite has decided to leverage Singapore as a strategic base for brand development and sourcing, key competencies driving its business growth in Asia and globally. Singapore's base of talent and partners in the creative and supply chain industries are well positioned to support Samsonite as the Company seeks out new growth opportunities. This setup is well-aligned with Singapore's ambition to be the key location in Asia for companies to strengthen and scale their brands," said Cindy Koh, EDB's Executive Vice President of International Operations.
About Samsonite
With a heritage dating back more than 110 years, Samsonite International 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®, ebags®, 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").
Contact:
Samsonite International S.A. – Hong Kong Branch
William Yue
+852 2422 2611
william.yue@samsonite.com
Helena Sau
+852 2945 6278
helena.sau@samsonite.com
United States – Joele Frank, Wilkinson Brimmer Katcher
Michael Freitag / Ed Trissel / Tim Ragones
+1 212 355 4449
View original content:SOURCE Samsonite
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