Samsonite to acquire US-based online retailer eBags for $105m
Luggage manufacturer and retailer Samsonite International has signed an agreement to acquire US-based online bags and related accessories retailer eBags for $105m.
The acquisition will enable Samsonite to accelerate the growth of its direct-to-consumer and ecommerce businesses, as well as enhance its existing digital capabilities.
Samsonite International CEO Ramesh Tainwala said: “The acquisition provides us with a strong platform to significantly expand our direct-to-consumer online presence, not just in North America but around the world.
“With eBags’ immediate resources and digital expertise, we are able to expand our online retail capabilities in a meaningful way, driving stronger sales growth across all the brands in Samsonite’s portfolio.”
A supplier of travel bags and accessories, eBags reported net sales of $158.51m for the fiscal year ended 25 December 2016.
eBags president and CEO Mike Edwards said: “Their considerable experience and well-established presence in the travel luggage industry, together with our digital capabilities and passion for travel, are a perfect match.”
The acquisition is subject to the satisfaction of certain customary closing conditions and is expected to be completed in the second quarter of this year.