SINGAPORE (May 13): Following an acquisition spree between 2012 and 2016, luggage maker Samsonite International has cemented its position as the market leader in the industry. With multiple brands and product ranges, the company’s focus now is to build on each of these acquisitions and grow a larger customer base.

Besides its core Samsonite brand, the company owns Tumi, American Tourister and other brands such as Lipault and Gregory. “We own the top three luggage brands in the world today. So, if you ask me…I don’t see why we should acquire -anything else [in the luggage space],” says Subrata Dutta, the company’s president for Asia--Pacific, in an interview with The Edge Singapore.

The acquisitions helped boost top-line growth. The US$1.8 billion (S$2.5 billion) acquisition of Tumi, in particular, made a significant impact. From FY2015 — the year before the acquisition — revenue rose 56% to US$3.8 billion in FY2018. Between FY2017 and FY2018, however, it hit a speed bump. While revenue grew 8.8%, higher overheads, distribution and marketing costs led to...(click on link for full story on theedgesingapore.com)