Samsonite sees Tumi sales doubling

Samsonite International SA said it expects its luxury travel products brand, Tumi Holdings Inc, to double sales to $1 billion as the world's biggest luggage maker pushes the newly-acquired company into the global market with new, lightweight products.

Samsonite forecasts Tumi doubling its revenue, which stood at $548 million in 2015, in as little as three years, with the luxury brand launching new products using Samsonite technology by the end of next year, Samsonite Chief Executive Officer Ramesh Tainwala said on Tuesday in an interview. Samsonite plans to distribute Tumi's products in China and expects strong growth there, he said.

"Tumi's travel luggage segment is not that strong, especially in Asia and Europe, because they lack technology to make lightweight luggage. Samsonite has the technology," said Tainwala.