Samsonite International S.A., parent to the Gregory, High Sierra, Tumi, Kamiliant, ebags, Lipault, and Hartmann brands, among others, revealed that its Board of Directors has authorized the company’s management to pursue listing the company’s shares on a second leading stock exchange in addition to the Hong Kong Stock Exchange as it is currently listed.
The company recently announced results for the year ended December 31, 2023, including strong double-digit net sales growth year-on-year and record gross profit margin and Adjusted EBITDA margin1. An additional listing is expected to increase liquidity of the company’s shares and create an opportunity to reach investors in markets that are an important part of the company’s global footprint and growth drivers for its business.
“After conducting a preliminary review of potential paths forward to enhance value for shareholders of the company, the Board determined to focus on pursuing a dual listing,” said Kyle Gendreau, CEO, Samsonite International S.A. “This initiative is intended to build on the strong base of investor support we have established on the Hong Kong Stock Exchange. The Asia market continues to be incredibly important for our core brands, and we look forward to continuing to successfully grow our business there and in other regions around the world as we deliver our portfolio of leading brands to consumers through our unrivaled global sourcing and distribution capabilities. We have significantly transformed Samsonite’s profitability over the past few years and are confident in our ability to deliver long-term sustainable value to shareholders.”
The company noted that its pursuit of a dual listing is at an early stage. The company will make further announcement(s) in accordance with applicable laws and regulations, as and when appropriate.
Image courtesy Gregory
