Samsonite to boost marketing spend to push American Tourister brand in Europe
Travel luggage company Samsonite is to plough additional investments in marketing to drive sales of its American Tourister brand in Europe and Asia.
Samsonite said sales of the brand hit $236.3m, a 17.5 per cent increase from the same period in 2013, largely pushed forward by growth in Asia.
Tim Parker, chairman and chief executive officer said that while flagship Samsonite brand continues to drive the highest volume of sales, it is also experiencing growth amongst its other brands driven by ad investment.
“We expect sales of non-Samsonite brands to increase substantially due to the impact of our newly acquired brands and as the additional advertising investments made for American Tourister, Hartmann and High Sierra translate into sales growth.
“As we increase the number of brands in our portfolio, the complexity of our business will, to a certain degree, also increase.”
The US company said that it aims to increase the share of consumer advertising spend as a percentage of sales across the board after reporting a 13.8 per cent hike in sales to $1.1m.
Samsonite also announced that Parker is stepping down from his role and will be replaced by Ramesh Tainwala, currently Samsonite’s chief operating officer.
Parker will assume the role of non-executive chairman.