SANTIAGO, Chile and LONDON, June 14 /PRNewswire/ --
Samsonite Group (OTC Bulletin Board: SAMC), the worldwide leader in travel solutions, announces today that it has signed an agreement to acquire a controlling interest in Saxoline, the leading distributor of travel goods in Chile.
The acquisition of Saxoline will help reinforce and strengthen Samsonite's market leadership in Latin America. Saxoline has been the leading distributor of travel goods in the Chilean market since its foundation in 1969. The company enjoys a strong reputation and is highly regarded for its high-quality products, distributed both directly through its network of 40 retail stores, and indirectly through its presence in department stores, multi-brand stores and other specialty stores.
The partnership reinforces and accelerates Samsonite Group's President and CEO Marcello Bottoli's vision of transforming Samsonite into a global luxury lifestyle group with strong market penetration and leadership in all continents.
Bottoli added, "We are thrilled with the acquisition of Saxoline. This move further enhances our global leadership and reinforces our position in Chile and in Latin America. This move comes at an exciting time for Samsonite as it executes a broad range of global initiatives, reinforcing its position as an elite lifestyle brand. These include Samsonite Black Label store openings, new products of creative director Quentin Mackay, the recent designer partnership with Alexander McQueen, and the acquisition last year of American luxury accessory label Lambertson Truex."
Juan Roberto Guzman, General Manager of Saxoline commented, "We are absolutely pleased to become part of a great company. This is a further recognition that Saxoline has been so far able to maintain the highest standards of quality in its home market. The future of our company is very important to us and we believe that, by becoming a strategic part of Samsonite, the core skills of the company to continue to live and to serve our customers. Saxoline has an outstanding team of professionals which, when combined with Samsonite's global expertise, makes an unbeatable combination to serve even better our customers."
The completion of the acquisition is subject to customary conditions.
NOTES TO THE EDITOR
About Samsonite Group
Samsonite is the worldwide leader in superior travel bags, luggage and accessories, combining notable style with the latest design technology and the utmost attention to quality and durability. Utilising top designer expertise from around the globe, Samsonite creates unparalleled products that fulfill the travel and lifestyle needs of the sophisticated traveller. For 97 years, Samsonite has continued to build upon its rich design heritage. Samsonite markets products under the Samsonite, Samsonite Black Label, Lambertson Truex, American Tourister, Lacoste and Timberland brands. Samsonite. Life's a journey.
Web site: http://www.samsonite.com
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