Samsonite acquires Lipault
Global luggage giant Samsonite just took over Lipault, a French brand founded in 2005. According to the press release, the deal is valued at 20 million euros, settled in cash.
In the same vein, the company took over High Sierra, a backpack brand that caters to globetrotters, in July 2012. The more luxurious brand, Hartmann, followed one month later, in keeping with Samsonite’s strategy to diversify by taking over companies specializing in specific market segments.
Lipault is no exception to this rule. The company, whose turnover is at 6.5 million euros, 95% of which is generated in France, specializes in soft-sided and highly colourful luggage, whereas Samsonite is more known for its hard-shelled suitcases, often black or grey. “Lipault is a chic and youthful brand that will allow us to attract customers thanks to its Parisian touch and vibrant colours. Lipault is the perfect complement to our current range and should greatly appeal to women,” said Tim Parker, CEO of the group that was founded in Colorado and is listed on the Hong Kong Stock Exchange.
Lipault was founded by François Lipovetsky and witnessed a 25% leap in activity in 2013. That same year, it inaugurated a new shop on the rue de Rennes in Paris, making it its third shop in Paris and its fourth throughout France.
In 2013, Samsonite’s turnover rose above the 2 billion dollar mark (almost 1.5 billion euros). At constant exchange rates, its sales leapt by 16%. In Europe, figures rose by 9.2%.
Copyright © 2021 FashionNetwork.com All rights reserved.