Intro: With 36 airport retail outlets, Rolling Luggage had net sales of GBP 26.7 mn for year ended Jan 2015
Global luggage major Samsonite International SA (Samsonite) has acquired airport retailer Rolling Luggage from Rcapital-owned Tie Rack Retail Group for a cash consideration of GBP 15.75 million.
Rolling Luggage is one of the world's leading airport retailers of branded luggage and travel products for business, fashion, adventure and leisure travel.
Headquartered in the UK, Rolling Luggage operates 36 airport retail locations in the UK, Europe, and Asia Pacific, including prime retail locations in Heathrow, Sydney, Melbourne, Frankfurt and Hong Kong airports. It recorded net sales of GBP 26.7 million for the year ended January 31, 2015, an increase of 11.3% from GBP 24 million it posted the previous year.The acquisition is part of Samsonite's ongoing strategy to enhance and strengthen its global multi-brand retail platform, as well as gain share in the large and growing travel retail market.
According to Ramesh Tainwala, chief executive officer, Samsonite, Rolling Luggage is an exciting new addition and is unlike any of his previous acquisitions. "It immediately allows us to expand our footprint in the travel retail sector, an area that we see great potential for further growth. With international tourist arrivals worldwide expected to almost double by 2030, reaching 1.8 billion, and international tourism sales growing by more than 12% a year since 20092, airport retail will continue to evolve as airports become shopping destinations in their own right."
With an established retail and brand presence, Rolling Luggage has across some of the world's highest-traffic airports. Accordingly, Samsonite sees this acquisition as a strategic opportunity to strengthen its multi-brand retail platform, increase visibility of its products among target consumers and drive sales by offering better product assortment within an improved in-store experience.
Rolling Luggage offers world class products which combine functionality with style that travelers can trust. Historically part of the Tie Rack Retail Group, it became a standalone business following completion of an internal restructuring in April 2014.
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