Samsonite International S.A. establishes brand development and sourcing hub in Singapore

Samsonite International S.A. (“Samsonite” or “the Company”, together with its consolidated subsidiaries, “the Group”; SEHK stock code: 1910), a leader in the global lifestyle bag industry and the world’s best-known and largest travel luggage company, today announced the establishment of a brand development and sourcing hub in Singapore as part of a global restructuring initiative to enhance alignment of the Company’s product development, brand management and supply chain operations across Asia. The establishment of the brand development and sourcing hub builds on Samsonite’s 25-year history in Singapore.

The establishment of this hub will enable the Company to design products closer to market while continuing to lead the industry in product development, innovation and sustainability for several key brands, including Samsonite and American Tourister. Samsonite will also leverage this hub to manage sourcing for Asia and the Middle East, while supporting and administering sourcing for North America and Latin America. Samsonite’s Asia regional leadership is in the process of relocating to Singapore to support the hub and manage the Company’s continued business growth in Asia.

Certain corporate and regional functions will continue to be based in Hong Kong, as will the base of operations for the Tumi brand in Asia, and a sales office that supports Samsonite’s Hong Kong SAR and Macau SAR business.

“This hub will support the continued growth of the Asia region, which is an increasingly important part of our global business, while yielding long-term financial and operational benefits for the Company and our stakeholders as we continue to focus on enhancing efficiency. We appreciate the support of the Singapore Economic Development Board (EDB) in our efforts to enhance Samsonite’s operational infrastructure in Asia, and we look forward to capitalizing on future growth opportunities from this hub as the global travel industry rebounds," said Kyle Gendreau, Samsonite’s Chief Executive Officer.