SAMSONITE’S GREAT SALES GROWTH

Samsonite storefront

Travel luggage company Samsonite International has had a very successful first quarter.

Net sales in Asia for the business increased 13.4 percent to US$324.8 million from January through to the end of March.

Hong Kong/Macau notably saw a large boom in sales, jumping up 30.8 percent. Japan also saw an increase, with sales growing 17.2 percent, as did China whose sales rose 14.3 percent.

Samsonite International taking full control of distribution for the Tumi brand across much of Asia has likely played a significant role in the growth-spike.

Both methods of sales, direct-to-consumer and e-commerce both saw growth in net sales, particularly the latter with saw a massive 128.2 percent increase. Overall operating profits increased by 18.8 percent, making for an adjusted net income of $50.1 million. CEO Ramesh Tainwala has stated that Samsonite ’s acquisition of eBags has played a role in the company’s recent success.