Arab Today, arab today samsonite acquires us brand hartmann
Last Updated : GMT 02:14:58
Arab Today, arab today
Arab Today, arab today

Samsonite acquires US brand Hartmann

Arab Today, arab today

Arab Today, arab today Samsonite acquires US brand Hartmann

Dubai - Arabstoday

Samsonite International, the worldwide leader in travel solutions over the last 100 years, has announced its acquisition of Hartmann — the iconic American luggage brand. The acquisition is expected to significantly expand Samsonite’s presence in the global luxury luggage sector. Founded in 1877, Hartmann’s range of luggage, business cases, tote bags and leather accessories appeals to business and leisure consumers alike. The brand is currently offered through multiple channels in USA, including retailers, corporate clients, Hartmann retail stores and the company’s website. With the acquisition, Samsonite aims to reinvigorate the Hartmann brand to generate growth by expanding global distribution, launching flagship retail stores across the globe, enhancing the brand presentation at retail and revitalising the product offering. In his comments, Tim Parker, Chairman and Chief Executive Officer of Samsonite, said: “The Hartmann brand is an important addition to our portfolio and gives us the ability to successfully expand our presence in the global luxury luggage sector. For 135 years, Hartmann has produced America’s finest luggage and leather products and established itself as a mark of quality.” “With Samsonite’s resources, depth of experience, and distribution capability, we can strengthen Hartmann’s business and introduce the brand to new markets in Asia and Europe, and millions of new customers worldwide.” “This brand has a unique heritage, with its products carried by Presidents and titans of industry,” Parker added “and we intend to honour and preserve the tradition of stylish design and impeccable quality as we revitalise the brand as the global gold standard of luxury luggage.” In his comments, Jai Krishnan, Vice President - Middle East, East Africa & SAARC at Samsonite said: “The Middle East region continues to play a crucial role in the growth of the global luxury industry and is a significant contributor of business for a wide range of luxury goods. In this context, the acquisition of Hartmann is an important development for us in the Middle East and it gives us the opportunity to further boost our company’s market leadership and presence in the luxury luggage sector” Under the terms of the transaction, Samsonite acquired Hartmann in an all-cash merger valued at $35 million. This is Samsonite’s second strategic acquisition in the recent past. The Company recently announced its acquisition of the High Sierra Sport Company, a US - based manufacturer and distributer of casual bags and adventure travel luggage. From gulftoday

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