1 Min Read
HONG KONG (Reuters) - Samsonite International S.A. (1910.HK) on Wednesday said it took direct control of the wholesale and retail distribution of Tumi products in Hong Kong, Macau and China from April 1, as the luggage maker targets the region's "enormous potential".
Samsonite in a statement said it had acquired certain assets including inventory and the rights to store leases from Hong Kong-based retail and brand management group Imaginex Holdings Ltd. It did not provide details.
Imaginex was Tumi distributor in Hong Kong, Macau and China from 2005 until the end of its contract on March 31, Samsonite said.
Samsonite completed its $1.8 billion (1.45 billion pounds) purchase of peer Tumi Holdings Inc in August, as the world's biggest luggage firm expands in the luxury market.
Reporting by Donny Kwok; Editing by Christopher Cushing