- Kristopher Fraser |
Hong-Kong based Samsonite has bought Italian handbag and travel chain Chic Accents. The total cost of the consideration is 9.49 million dollars.
“[We] intend to leverage the chain’s reputation for carrying some of the best Italian ladies’ fashion handbag brands to expand our presence in non-travel categories, including handbags, accessories and business products,” said Samsonite chief executive Ramesh Tainwala to WWD.
Chic Accents currently operates 31 stores across Italy in luxury shopping destinations. The company's sales grew 10.1 percent to 16.97 million dollars in 2014.