Samsonite plans to buy US based eBags for $105 million
BY - Vaishnavi Gupta
Senior Correspondent, IndianRetailer.com & Retailer Magazine Apr 07, 2017 / 1 MIN READ
Senior Correspondent, IndianRetailer.com & Retailer Magazine Apr 07, 2017 / 1 MIN READ
Samsonite International S.A., one of the world’s largest travel luggage companies, plans to buy US based online travel bags retailer, eBags Inc for $105 million.
The deal will be funded by internal resources and a revolving credit facility. Samsonite expects it to be completed in the second quarter of 2017.
Earlier this week, Samsonite said that it had taken direct control of the wholesale and retail distribution of Tumi products in Hong Kong, Macau and China from April 1.
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Mirroring the diversity of its product range, the campaign underscores the rigorous strength and durability tests each Samsonite product undergoes.
The company proudly asserts that it secures between 20-25 percent of its business from the premium segment, an arena characterized by limited competition.
The communication of the brand has been curated over the years, keeping in mind these glorious aspects.
Samsonite SA is planning to launch its newly acquired online luggage portal eBags.com by the end of next year.
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