Samsonite purchases the backpack brand Gregory

By

Sarah Ahssen

Published
Jun 20, 2014

Samsonite has made its third acquisition this year. The global luggage giant is preparing to purchase the outdoor backpack brand Gregory from Black Diamond. The acquisition, which should be complete in July, amounts to 85 million dollars (62 million euros). In 2013, Gregory recorded a turnover up 14.3% at 34.9 million dollars. Outdoor backpacks and accessories make up 72.3% of its business.

"The trend is towards a healthier and more active lifestyle and the number of consumers engaging in outdoor activities is increasing. This purchase will allow us to strengthen our presence in the outdoor sector; on one hand with Gregory in the premium segment and on the other with High Sierra (which Samsonite acquired in 2012, editor’s note) for mid-range," says Tom Korbas, President of Samsonite International for the Americas.

Samsonite, which exceeded 2 billion dollars in sales in 2013 (1.5 billion euros), acquired Speck Products, a Californian company specialized in protective covers for electronic devices, in May and the French luggage and bag brand Lipault in April.