Tumi Holdings Inc. on Tuesday filed a registration statement, or Form S-1, with the Securities and Exchange Commission to go public.
This story first appeared in the December 14, 2011 issue of WWD. Subscribe Today.
The luggage and accessories firm hasn’t yet determined either the amount of shares of common stock to be sold in the initial public offering, or the price range for the offering.
Tumi in its filing said, “We are a high-growth, global, premium lifestyle brand whose products offer superior quality, durability, functionality and innovative design. We have grown at a compound annual growth rate of 12 percent in net sales and 16 percent in operating income from 2005 through the last 12 months ended Sept. 25, 2011.”
The company said that for the rolling 12 months ended Sept. 25, net sales were $312.8 million, while operating income was $55.9 million. The company’s yearend is Dec. 31.
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For the nine months ended Sept. 25, Tumi said net income was $3.8 million on net sales of $223 million.
Tumi said its products are distributed globally in more than 65 countries through 1,600 points of distribution and multiple channels including retail, wholesale and e-commerce.