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Samsonite considers adding handbag brand to its portfolio

Luggage maker Samsonite International SA is looking to add a handbag brand in its business portfolio in a bid to cater more to women, Bloomberg News reported March 19, citing an interview with Samsonite Chairman Timothy Charles Parker.

Parker told the news outlet that the company is exploring possibilities in the handbag category as it wants to boost sales of office gear and non-travel items to women. Last year, the luggage company said it plans to renovate its standalone stores to make them exude a more female-friendly vibe.

According to the report, Samsonite is open to a transaction that can rival its $1.8 billion acquisition of Tumi Holdings Inc. However, Parker said the company is not actively approaching brands and will probably consolidate for a year or two before acquiring another company.