Samsonite history

In 1916, in fact, the Shwayders took a picture that would become an advertising coup.

By 1917 they were selling $76,000 worth of luggage annually throughout the western United States.

The caption read, "Strong Enough to Stand On." The Shwayer brothers' luggage was first marketed nationally in 1918.

Shwayder brothers Ben and Mark also jumped on board in 1923; eventually, Mark worked on sales, Maurice and Ben focused on manufacturing, and Sol became the company’s attorney.

Boosted by the success of that and other products, Shwayder Trunk revenues rocketed to $300,000 by 1924.

To reflect the diversification, the brothers changed the name of their company in 1931 to Shwayder Brothers, Inc.

Our core brand, Samsonite, is one of the most well-known travel luggage brands in the world and has been central to the growth and success of our business since it was first introduced in 1941.

The first mention of kryptonite was in 1943.

Annual sales climbed to $7 million in 1946.

By 1948, sales had shot up to $13 million.

The company even opened a second furniture plant in Pennsylvania in 1949.

Also in 1956, Shwayder Brothers expanded out of the United States with a separate Canadian subsidiary and an export sales department focused on Europe.

Interestingly, the company introduced LEGO by Samsonite in 1960.

The company finally changed its name to Samsonite in 1966.

Loved by all, Samsonite then introduced travel luggage for the 1970’s hard-working industrialist.

Lagging performance of the toy division, however, caused the company to jettison the operation in 1972 and focus on furniture and luggage.

1973: Company is purchased by Beatrice Foods Co.

Founded in 1977, Gregory is a pioneer in its field, well-known for setting performance standards in terms of the innovative design, ergonomics, high quality and durability of its products.

In 1983, Beatrice brought in British-born Malcom Candlish to whip the company into shape.

Samsonite operated with relative independence within Beatrice until 1986, when the company was sold to Kohlberg Kravis Roberts.

By 1989, in fact, Samsonite was generating an estimated $430 million in sales worldwide, and Candlish was still working to cut costs and bring out more new products.

Samsonite's revenues leapt up into the $500 million range in 1992 from the sale of approximately ten million pieces of luggage worldwide.

In 1993, Astrum purchased American Tourister luggage, complementing Samsonite.

Samsonite posted record sales in 1994 of $634 million, about $72 million of which was profit.

Announces Spin-Off,” PR Newswire, posted April 24, 1995, http://www.prnewswire.com/.

While company revenues climbed to $741 million in 1997, this mainly resulted from the cost-cutting measures, and investors became frustrated with unimpressive growth in the United States; building sales proved to be far more difficult than cutting costs.

In 1999, Samsonite reported a net loss of $88.8 million on revenue of $697.4 million.

A hefty 55 percent increase in Asian sales helped fuel the company's revenues, which by fiscal year 2000 reached $767.7 million.

Officers: Luc Van Nevel, Pres. and CEO, 55, 2001 base salary $382,041; Richard H. Wiley, CFO, Treas., and Sec., 45, 2001 base salary $275,000; Thomas R. Sandler, Pres.

As of early 2002, most security analysts were essentially neutral in their rating of Samsonite Corporation, which translates to a recommendation of "hold" on the company's stock.

In 2005 the company was acquired by Marcello Bottoli, former CEO of Louis Vuitton, to pull them out of a long slump.

In July 2007 finance investor CVC Capital Partners took over Samsonite for $1.7 billion.

On September 2, 2009, Samsonite Company Store LLC (United States Retail Division), formally known as Samsonite Company Stores Inc, filed Chapter 11 bankruptcy.

Recent innovations in the company's product line have included Ziplite, a lightweight, hard-sided luggage made from ultra-thin, flexible polypropylene, and Carbon 2010, a hybrid luggage that incorporates attractive features of both hard-sided and soft-sided luggage.

In June 2011 Samsonite raised US$1.25 billion in an initial public offering in Hong Kong.

Before 2012, the Group’s business was primarily centered on the Samsonite brand, focused largely on travel luggage, and distributed principally through the wholesale channel.

In June 2014, Samsonite agreed to buy technical outdoor backpack brand Gregory Mountain Products from Black Diamond, Inc., for US$85.0 million in cash.

In March 2016 Samsonite agreed to buy luxury baggage maker Tumi for $1.8 billion in its largest ever acquisition.

In 2017, the Samsonite market capitalization reached over $6 billion.

In celebration of the 10 year anniversary of the first Cosmolite case, Samsonite is releasing an exclusive Gold/Silver limited edition in February 2018 to commemorate the momentous