Hong Kong-based Samsonite International said Friday it has bought Italian handbag and travel goods retail chain Chic Accent for a total cash consideration of 8.5 million euros, or $9.49 million.
“[W]e 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.
Chic Accent operates a chain of 31 stores across Italy in high end and well-located shopping malls. Samsonite said the Italian retailer saw its 2014 sales grow 10.1 percent to 15.2 million euros, or $16.97 million.
