Samsonite To Buy Luggage Rival Tumi


Luggage maker Samsonite is hoping to bag some extra profit with a new acquisition.

The company is buying its luxury-brand rival Tumi for $1.8-billion.

Tumi is among leading brands for high-end travelers, with some of its carry-on bags selling for almost $2,500.

The deal gives Samsonite a bigger share of the high-end market while Tumi will benefit from being part of a larger company with a wider global reach.

Samsonite CEO says the company will expand Tumi’s presence in Asia and Europe, while strengthening its business in North America.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Video Forecast

More Forecast

Don't Miss