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Samsonite Sets Sights on Second Stock Exchange Listing Amidst Record-Breaking Financial Performance

In a strategic initiative aimed at amplifying shareholder value, Samsonite International S.A., a preeminent name in the global lifestyle bag industry as well as the world's foremost and expansive travel luggage company, declared today that its conglomeration of directors has bestowed upon company management the authority to explore the potential listing of the company's shares on an additional premier stock exchange in conjunction with its present listing on the Hong Kong Stock Exchange.

This announcement trails the company's recent disclosure of exceptional annual results for the fiscal period culminating on December 31, 2023. The renowned luggage maker not only celebrated stellar year-over-year net sales increase but also reached unparalleled heights with its gross profit margin and Adjusted EBITDA margin. The pursuit of a dual listing is envisaged to magnify the liquidity of the company's shares and carve out opportunities for investor engagement in critical markets that form the backbone of Samsonite's worldwide presence and serve as catalysts for business growth.

The company's Chief Executive Officer, Mr. Kyle Gendreau, imparted that following a review of various strategies to enrich shareholder value, the focus has been affixed to a dual listing. Mr. Gendreau expressed his anticipation for fortifying the robust base of investor support nurtured on the Hong Kong Stock Exchange. He reiterated the importance of the Asian market for their core brands and shared the company's enthusiasm for sustained business expansion across the globe, leveraging their unparalleled global sourcing and distribution network. Under Mr. Gendreau's stewardship, Samsonite has evidenced a significant transformation in profitability, instilling confidence in the company's trajectory towards enduring advantageous returns for shareholders.

However, stakeholders and prospective investors have been cautioned to exercise prudence in their dealings with the company’s shares and/or other securities, as the company emphasized that the deliberations regarding the dual listing are in nascent stages. The company communicates its commitment to adhere to applicable laws and regulations and promises to provide timely announcements as the situation evolves.

About Samsonite: A Legacy of World-Class Luggage and Travel Solutions

Founded in 1910, Samsonite commands an illustrious history and has ascended to a position of leadership within the global lifestyle bag sphere. The group’s influence spans across the design, production, sourcing, and distribution of an extensive range of products including luggage, business and computer bags, as well as outdoor, casual bags, and travel accessories. Their revered portfolio is marketed globally under coveted brand names such as Samsonite®, Tumi®, American Tourister®, Gregory®, High Sierra®, Lipault®, Hartmann®, along with other proprietary and licensed brands. Samsonite’s ordinary shares proudly trade on the Main Board of The Stock Exchange of Hong Kong Limited.

For those seeking additional information, Samsonite has offered distinct points of contact. The company's Hong Kong Branch can be reached at the telephone number +852 2422 2611, with Mr. William Yue and Ms. Helena Sau designated as the primary contacts. Queries may be directed via email at [email protected] and [email protected], respectively.

In the United States, communications are handled by Joele Frank, Wilkinson Brimmer Katcher, with contact persons Michael Freitag, Tim Ragones, and Ed Trissel made available for inquiries. They may be reached by telephone at +1 212 355 4449, or via email at [email protected]

Looking Forward: Samsonite's Vision and Projections

The news release contains forward-looking statements that shed light on Samsonite’s projections regarding its future operations, performances, and events. These forward-looking assertions include discussions on net sales, gross profit margin, operating profit, Adjusted Net Income, Adjusted EBITDA, and its margin, along with forecasts concerning cash flow, liquidity, capital resources, potential impairments, growth trajectories, strategic blueprints, attainments, distributions, organizational structure, the advent of new store outlets or closures, market opportunities, and the overall state of the market and industry.

Such statements frequently employ language indicative of future expectations — terms such as "expect," "seek," "believe," "plan," "intend," "estimate," "project," "anticipate," "may," "will," "would," and "could" are customary identifiers of forward-looking narratives. These conjectures are rooted in management’s current knowledge and derive from prevailing information.

However, the world of business is fraught with uncertainty, and forward-looking statements are inherently subject to such risks and doubts. If these risks or uncertainties were to materialize, or if the underpinning beliefs and assumptions of management were disproven, the actual results could significantly deviate from those encapsulated within the forward-looking statements.

The factors that could instigate a divergence between actual results and those envisaged include global economic conditions, political or social turmoil, armed conflicts globally, inflationary impacts, economic recessions, reductions in consumer spending, significant shifts in consumer spending patterns or preferences, competitive pressures, disruptions or stalls in the supply of finished goods or pivotal components, the performance of Samsonite’s product line within the retail landscape, and the financial plights or related insolvency and collection hurdles faced by customers.

Samsonite emphasizes that forward-looking statements are relevant only as of their date of issue. Shareholders, potential investors, and other interested parties are strongly advised against placing undue reliance on these projections. Moreover, the company expressly disclaims any responsibility to revise or update any forward-looking statements due to new information or future events, with the exception of when mandated by prevailing securities laws and regulations.

Note on Non-IFRS Measures

Samsonite has also disclosed that its reference to Adjusted EBITDA margin—a non-IFRS (International Financial Reporting Standards) measure—relies on the calculation dividing the adjusted earnings before interest, taxes, depreciation, and amortization of intangible assets (known as Adjusted EBITDA) by net sales. This measure allows for a consistent evaluation of the company’s performance aside from the standard IFRS metrics.

The journey of Samsonite from its inception a century ago to its preeminence in the luggage industry marks a tale of persistent innovation and relentless pursuit of excellence. With product offerings that resonate with the needs of contemporary travelers and a distribution network that spans the globe, Samsonite has not only etched its name in the annals of travel gear history but also in the lifestyle aspirations of millions worldwide.

As Samsonite navigates through the process of considering a dual listing on stock exchanges, the turn of events signifies a watershed moment. Should the venture come to fruition, it would stand as a resounding affirmation of the financial robustness and vision of the company that has stood the test of time. Far more than a mere operational maneuver, the proposed listing delineates a strategic avenue through which Samsonite seeks to unlock greater liquidity, assimilate broader investor bases, and forge an even more influential presence in the global markets.

In reaching this pinnacle of corporate success, Samsonite has not merely ridden the waves of retail trends but has become a crest in its own right, continually redefining what it means to travel with comfort and style. The potential dual listing embodies more than a share offering; it illustrates a new chapter in the company's storied legacy—one that could facilitate further expansion, innovation, and ultimately, even greater horizons of growth and success.

As we await further announcements on this momentous development, investors and industry observers alike will be watching Samsonite’s next steps with keen interest. With a strategy that encompasses both heritage brands and cutting-edge innovation, Samsonite remains a travel and lifestyle juggernaut geared towards a future as dynamic and promising as the markets it serves.

In the panorama of international commerce, companies like Samsonite are not just purveyors of products; they are custodians of a journey, co-travelers with customers who seek not just to journey but to journey well. From their humble beginnings to their current heights, Samsonite's evolution mirrors the seamless blend of tradition with an unceasing quest for modernity—a testament and tribute to the enduring spirit of travel.

Samsonite continues to welcome both feedback and inquiry and encourages stakeholders to utilize the provided contact information for any in-depth queries that they may have regarding the company's operations and the anticipated listings. With an open dialogue and transparent communications, Samsonite upholds its commitment to maintaining strong relationships with investors and customers alike.

(Source: Samsonite International S.A.)

Should this stride towards a dual listing prove successful, it is likely to serve as a bellwether for the industry, evidencing the potential for legacy brands to not only survive in a dynamic economic landscape but to thrive and expand their horizons. In turn, Samsonite’s story becomes not just a narrative of success but a blueprint for longevity and adaptability in a world that is perpetually in motion.

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Samsonite International S.A. and its management look forward to exploring the rich potential that a dual listing presents and remains dedicated to pursuing avenues that promise to optimize shareholder value, reinforce market prominence, and perpetuate the brand’s global legacy.

Samsonite’s evolution from a luggage innovator to a globally recognized leader in travel solutions is a story of perseverance, strategic vision, and an unyielding dedication to customer satisfaction. As they step into new territories and marketplaces, their century-old narrative continues to unfold, promising exciting new chapters for a brand that has become synonymous with travel, ambition, and the exploratory spirit of humanity.