Samsonite International said on Friday it would buy Tumi Holdings Inc for $26.75 per share in an all-cash transaction valuing Tumi at $1.8 billion, as the world's biggest luggage group expands in the luxury market.
Next June, Samsonite will again have a flagship store in Paris. The luggage brand will set up shop in a 100-m² space on boulevard des Capucines (8th district), a thoroughfare that it had formerly occupied until 2009.
Hong Kong-listed luggage maker Samsonite reported a 18.6 percent rise in its 2013 profit, missing estimates, as tougher conditions in China countered its expanding business in Asia. Samsonite earned $176.