Mr Fischer said the multiple only looked high based on current earnings. "Once we consider the opportunities to grow revenues as a combined group and also the significant cost savings, then we believe Samsonite paid a reasonable multiple." Samsonite, which was founded in Colorado at the replica handbags uk
beginning of the 20th century as a trunk manufacturing company, has been expanding its presence in Asia in recent years as demand for recognisable brands has been stronger than in its traditional markets louis vuitton outlet
in the US and Europe. For decades Samsonite was a symbol for global business travellers but of late it has moved downmarket in an attempt to capture the fast-growing mid-market segments in China and India. In Asia replica handbags
it has started to promote more prominently luggage bags in the $300-$350 price range rather than the more expensive $500-$600 cabin-size bags. However, the acquisition of Tumi, which follows that gucci replica
of the High Sierra and Hartmann brands in 2016 and Lipault and Speck in 2014, will help it to strengthen its higher-end business. Mr Tainwala said the group planned to double Tumi's points of sale over the next few years, with an emphasis on growth in Asia.