Samsonite Buys Luxury Bag Maker Hartmann For $35M
HONG KONG (AP) — Suitcase company Samsonite International says it's buying U.S. luxury luggage brand Hartmann for $35 million.
Samsonite said Friday it paid cash for the 135-year-old company. Hartmann makes luxury luggage and leather goods. Samsonite said the purchase will help it expand in those sectors.
Samsonite will use its global retail and distribution network to expand the Hartmann brand in the U.S. and internationally.
It's the second purchase in less than a month for Hong Kong-listed Samsonite. In July, the company paid $110 million for High Sierra, a U.S. company that makes casual bags and adventure travel luggage.
Samsonite also owns the American Tourister brand.