Samsonite Group S.A. Announces Results for the Period Ended June 30, 2026

• Strong progress on key growth pillars drove resilient performance in the first half of 2026.
• First half 2026 net sales were US$1,680.6 million, up 1.1% but down by 0.7%⁽¹⁾ on a constant currency basis year-over-year. Excluding net sales in the Middle East and India, first half 2026 net sales increased by 3.1% (+0.7%⁽¹⁾ on a constant currency basis) year-over-year.
• On an as reported basis, first half 2026 gross profit margin was 60.5% and adjusted EBITDA margin⁽²⁾ was 14.6%. Excluding the benefit from U.S. tariff refunds, first half 2026 gross profit margin was 59.5%, up 30 basis points year-over-year, while adjusted EBITDA margin was 13.7% reflecting continued investment in strategic growth initiatives, while maintaining healthy profitability.
• First half 2026 adjusted free cash flow⁽³⁾ was US$85.0 million, an improvement of US$73.5 million from US$11.5 million during the same period in 2025.
• Second quarter 2026 net sales were US$851.5 million, down 1.6% (-1.7%⁽¹⁾ on a constant currency basis) year-over-year. Excluding net sales in the Middle East and India, second quarter 2026 net sales increased by 0.6% but decreased by 0.2%⁽¹⁾ on a constant currency basis year-over-year.
• On an as reported basis, second quarter 2026 gross profit margin was 62.0% while adjusted EBITDA margin was 16.1%. Excluding the benefit from U.S. tariff refunds, second quarter 2026 gross profit margin was 60.0%, up 100 basis points year-over-year, while adjusted EBITDA margin was 14.1%.
• We expect the constant currency net sales growth rate in the third quarter of 2026 to remain stable and in a similar range relative to the second quarter of 2026. 
• Entered into a definitive agreement to acquire BÉIS, LLC, a fast-growing, digitally native lifestyle and travel brand that expands our reach among younger, predominantly female consumers, increases our exposure to faster-growing lifestyle bag categories, and strengthens our digital capabilities. 

MANSFIELD, Mass. and HONG KONG, Aug. 13, 2026 /PRNewswire/ -- Samsonite Group S.A., (together with its consolidated subsidiaries, the "Company", "Samsonite Group", "our", "us" or "we"; SEHK stock code: 1910), the world's best-known and largest travel luggage company and a leader in global lifestyle bags, today published its results for the period ended June 30, 2026. Unless otherwise stated, all net sales growth rates are presented on a constant currency basis⁽¹⁾.

Commenting on Samsonite Group's results, Mr. Kyle Gendreau, Chief Executive Officer, said, "In the first half of 2026, we made strong progress on our key growth pillars, which helped drive resilient underlying performance in a challenging demand environment resulting from softer travel demand and weaker consumer confidence related to overall inflationary pressures due to the conflict in the Middle East. Although there is significant uncertainty about the impact of the conflict over the remainder of the year, we remain focused on fully leveraging our advantages in product innovation, market leadership, platform, and scale to continue to drive profitable net sales."

Achievements on Key Growth Pillars

• Amplify and Elevate Awareness of Our Iconic, Consumer-Centric Brands: In the first half of 2026, we increased our marketing investment by 60 basis points year-over-year to 6.5% of net sales, enhancing brand awareness through richer storytelling, deeper consumer engagement, and continued investment behind our iconic brands.
  
  
• Be the Clear Winner in Digital to Further Support Multi-channel Growth: In the first half of 2026, DTC e-commerce increased by 6.4%⁽¹⁾ year-over-year, led by double-digit constant currency⁽¹⁾ growth in Asia and Latin America. Digital channels remain an increasingly important component of our business, with total e-commerce net sales (combined DTC e-commerce net sales and wholesale net sales to e-retailers⁽⁴⁾) accounting for 20.7% of net sales in the first half of 2026, up 60 basis points from the first half of 2025.
  
  
• Seize Whitespace Opportunities in Lifestyle Bags: In the first half of 2026, lifestyle bags category⁽⁵⁾ net sales increased by 2.4%⁽¹⁾ year-over-year, driven by strong net sales growth of lifestyle bags in our Samsonite, Gregory, and TUMI brands. Penetration of lifestyle bags category net sales increased to 37.4% of sales in the first half of 2026, up 120 basis points from the first half of 2025.
  
  
• Continue to Win With Products That Resonate Globally: We successfully launched innovative products with global appeal, including Samsonite Nexis, TUMI Alpha 4, and new Samsonite Paralux colorways.

"These advancements enabled us to drive resilient underlying performance in the first half of 2026. Excluding the Middle East and India, the markets most affected by the conflict in the Middle East to date, first half 2026 net sales were largely stable, up 3.1%, (+0.7%⁽¹⁾ on a constant currency basis) year-over-year. Although we experienced inflationary cost pressures due in part to higher oil prices, we successfully leveraged our competitive advantages in scale, deep relationships with suppliers, and experienced teams, supported by favorable geographic and channel mix, to deliver year-over-year gross margin expansion. Our adjusted EBITDA margin reflected continued investment in strategic growth initiatives, while maintaining healthy profitability."

"Our balance sheet remained strong, and through rigorous financial management our adjusted free cash flow increased by US$73.5 million year-over-year to US$85.0 million in the first half of 2026. We paid a US$140 million cash dividend to shareholders on July 15, 2026, and we completed a US$50 million share repurchase in the second quarter of 2026, demonstrating our disciplined approach to capital allocation and commitment to return cash to shareholders."

"We are confident in the long-term tailwinds supporting our business, including continued growth in travel demand, as well as our ability to execute on our strategic priorities to accelerate growth," said Kyle Gendreau, Chief Executive Officer.

Comments on BÉIS Acquisition

Commenting on the BÉIS acquisition, Mr. Kyle Gendreau, Chief Executive Officer, said, "We have previously stated that we are continuously evaluating strategic acquisition opportunities that align with our long-term value creation goals. We are pleased to announce that we entered into a definitive agreement on August 12 to acquire BÉIS, LLC. BÉIS is a fast-growing, digitally native lifestyle and travel brand that expands our reach among younger, predominantly female consumers, increases our exposure to faster-growing lifestyle bag categories, and strengthens our digital capabilities. This transaction aligns closely with our key growth priorities and BÉIS is spearheaded by an impressive leadership team and has cultivated a loyal customer following through differentiated products, authentic storytelling and a best-in-class digital-first business model. We see significant opportunities to accelerate BÉIS' long-term growth, while preserving the entrepreneurship, creativity, and strong brand identity that have fueled the enterprise's success since its founding. We're excited to welcome BÉIS into our family of innovative and iconic brands." The transaction is expected to close in the fourth quarter of 2026, subject to the receipt of regulatory approvals and other customary closing conditions.

Second Quarter 2026 Results

Net sales for the three months ended June 30, 2026 were US$851.5 million, down 1.6% (-1.7%⁽¹⁾ on a constant currency basis) year-over-year, as the Company navigated the full impact of headwinds from the conflict in the Middle East, including softening travel and consumer confidence trends, particularly in the U.S. Excluding net sales in the Middle East and India, net sales for the second quarter of 2026 increased by 0.6% but decreased by 0.2%⁽¹⁾ on a constant currency basis year-over-year.

• By region, the Company continued to deliver year-over-year net sales growth in Asia (+0.9%⁽¹⁾ and +6.4%⁽¹⁾ when excluding net sales in the Middle East and India) and Latin America (+1.2%⁽¹⁾), while net sales in Europe remained stable (-0.1%⁽¹⁾) in the second quarter of 2026 year-over-year. Net sales in North America decreased by 5.9%⁽¹⁾ year-over-year in the second quarter of 2026 reflecting the full impact of inflationary pressures due to the conflict in the Middle East, which has resulted in softer travel demand and weaker consumer confidence.  These headwinds also resulted in more cautious purchasing by key wholesale customers.
  
  
• By brand, Samsonite and TUMI net sales decreased by 1.4%⁽¹⁾ and 1.3%⁽¹⁾, respectively, in the second quarter of 2026 compared to the same period in 2025. American Tourister net sales were stable (-0.1%⁽¹⁾), with strong quarterly growth in North America and modest growth in Europe offset by declines in Asia and Latin America. Excluding net sales in the Middle East and India, net sales of the Samsonite and TUMI brands decreased by 1.0%⁽¹⁾ and 0.4%⁽¹⁾, respectively, while American Tourister net sales increased by 6.2%⁽¹⁾ in the second quarter of 2026, year-over-year.

On an as reported basis, gross profit margin was 62.0% for the second quarter of 2026 compared to 59.0% for the same period in 2025. Excluding the benefit from tariff refunds received in June 2026 following the U.S. Supreme Court's ruling striking down certain tariffs previously imposed under the International Emergency Economic Powers Act, second quarter 2026 gross profit margin was 60.0%, up 100 basis points year-over-year, supported by favorable geographic and channel mix.

The Company remained focused on disciplined cost management in a challenging environment, while continuing to invest in its long-term growth priorities.

• Marketing expenses increased by 150 basis points to 7.2% of net sales in the second quarter of 2026 compared to 5.7% of net sales in the first quarter of 2026, as the Company invested in marketing to elevate its iconic brands, deepen consumer engagement, and enhance storytelling.
  
  
• As a percentage of net sales, distribution expenses decreased by 70 basis points to 33.6% of net sales for the second quarter of 2026 versus 34.3% of net sales for the first quarter of 2026, while general and administrative expenses were down 50 basis points to 7.0% of net sales in the second quarter of 2026 versus 7.5% of net sales in the first quarter of 2026.

On an as reported basis, adjusted EBITDA margin was 16.1% in the second quarter of 2026. Excluding the benefit from U.S. tariff refunds, adjusted EBITDA margin for the second quarter of 2026 was 14.1%, up 100 basis points from 13.1% for the first quarter of 2026, as gross margin expansion and greater operating leverage more than offset increased investment in marketing and strategic growth initiatives.

Adjusted net income⁽⁶⁾ decreased by US$6.4 million to US$65.0 million for the three months ended June 30, 2026 compared to US$71.4 million for the same period in 2025. Adjusted basic⁽⁷⁾ and diluted⁽⁷⁾ earnings per share were US$0.047 and US$0.047 per share, respectively, for the three months ended June 30, 2026 compared to US$0.052 and US$0.051 per share, respectively, for the second quarter of 2025.

First Half 2026 Results

Net sales for the six months ended June 30, 2026 were US$1,680.6 million, an increase of 1.1% but a decrease of 0.7%⁽¹⁾ on a constant currency basis year-over-year. Excluding net sales in the Middle East and India, net sales for the first half of 2026 increased by 3.1% (+0.7%⁽¹⁾ on a constant currency basis) year-over-year. 

• By region, the Company continued to achieve net sales growth in Asia (+1.1%⁽¹⁾ and +5.7%⁽¹⁾ when excluding net sales in the Middle East and India) and Latin America (+3.1%⁽¹⁾) while net sales in Europe remained stable (+0.3%⁽¹⁾) in the first half of 2026, year-over-year. Net sales in North America decreased by 3.9%⁽¹⁾ in the first half of 2026, year-over-year, reflecting the impact of inflationary pressures due to the conflict in the Middle East, which has resulted in softer travel demand and weaker consumer confidence. These headwinds also resulted in more cautious purchasing by key wholesale customers.
  
  
• The performance of the Company's core brands reflected underlying strength despite headwinds from the conflict in the Middle East. Net sales of the Samsonite, TUMI and American Tourister brands were relatively stable, down by 0.1%⁽¹⁾, 0.5%⁽¹⁾ and 0.8%⁽¹⁾, respectively, in the first half of 2026 compared to the same period in 2025. Excluding net sales in the Middle East and India, Samsonite and TUMI net sales were stable, up 0.1%⁽¹⁾ and 0.3%⁽¹⁾, respectively, while American Tourister net sales increased by 5.1%⁽¹⁾ in the first half of 2026, year-over-year, driven by strong growth in North America.
  
  
• DTC e-commerce continued to be the fastest growing channel in the first half of 2026, with net sales increasing by 6.4%⁽¹⁾, led by double-digit constant currency⁽¹⁾ net sales growth in Asia and Latin America. Total e-commerce net sales accounted for 20.7% of net sales in the first half of 2026 compared to 20.1% in the first half of 2025. Digital channels remain an increasingly important component of the Company's business, with DTC e-commerce accounting for 12.3% of net sales in the first half of 2026 versus 11.3% of net sales in the first half of 2025.
  
  
• The lifestyle bags category continued to outperform, with net sales growing by 2.4%⁽¹⁾ year-over-year to account for 37.4% of net sales in the first half of 2026 versus 36.2% of net sales in the first half of 2025, driven by strong net sales growth of lifestyle bags in our Samsonite, Gregory and TUMI brands.

On an as reported basis, gross profit margin was 60.5% for the first half of 2026 compared to 59.2% for the same period in 2025. Excluding the benefit from U.S. tariff refunds, first half 2026 gross profit margin expanded by 30 basis points year-over-year to 59.5%, reflecting favorable net sales mix and disciplined execution across the business.

Operating expenses were managed with rigor as the Company focused on investing in marketing, digital, and selective store openings⁽⁸⁾, which management believes are key to securing long-term brand growth opportunities.

• Marketing expenses increased by 60 basis points to 6.5% of net sales in the first half of 2026, up 60 basis points from 5.9% of net sales in the first half of 2025, as the Company continued to invest behind its iconic brands to support long-term growth.
  
  
• Distribution expenses increased by 200 basis points to 33.9% of net sales for the first half of 2026 compared to 31.9% of net sales in the first half of 2025. Results reflected unfavorable operating leverage in a softer demand environment, together with the cumulative impact of industry-wide inflation across many categories, including wage and rent increases, higher outbound freight expenses, and selective new store openings to increase our brand presence.
  
  
• General and administrative increased by 30 basis points to 7.2% of net sales in the first half of 2026 compared to 6.9% of net sales in the first half of 2025 due mainly to inflationary increases.

Adjusted EBITDA margin was 14.6% for the six months ended June 30, 2026 compared to 16.2% for the first half of 2025. Excluding the benefit from U.S. tariff refunds, adjusted EBITDA margin was 13.7% for the first half of 2026, reflecting continued investment in marketing and strategic growth initiatives, while maintaining healthy profitability.

Adjusted net income decreased by US$21.9 million to US$101.5 million for the six months ended June 30, 2026 compared to US$123.4 million for the same period in 2025. Adjusted basic and diluted earnings per share were US$0.073 and US$0.073 per share, respectively, for the six months ended June 30, 2026 compared to US$0.089 and US$0.088 per share, respectively, for the first half of 2025.

Balance Sheet, Adjusted Free Cash Flow, and Shareholder Returns

Management believes the Company's balance sheet remains healthy and the Company is well positioned to capitalize on anticipated strong long-term growth opportunities. Net debt was US$1,069.0 million⁽⁹⁾ as of June 30, 2026, a reduction of US$29.9 million from December 31, 2025. In addition, the Company continued to maintain strong liquidity⁽¹⁰⁾ of approximately US$1.5 billion as of June 30, 2026.

Adjusted free cash flow improved to US$57.7 million for the second quarter of 2026 compared to US$52.7 million in the second quarter of 2025. This brought adjusted free cash flow to US$85.0 million for the six months ended June 30, 2026, an improvement of US$73.5 million compared to US$11.5 million in the first half of 2025, primarily driven by favorable changes in net working capital year-over-year.

Outlook

Commenting on the outlook, Mr. Gendreau said, "We remain confident in our ability to execute on our strategic priorities to accelerate long-term growth, supported by the long-term tailwinds in our industry, including continued growth in travel demand."

"Nearer-term, we expect the constant currency net sales growth rate in the third quarter of 2026 to remain stable and in a similar range relative to the second quarter of 2026. Currently, the overall inflationary pressures related to the conflict in the Middle East have contributed to softening trends in travel and consumer confidence, as well as more cautious inventory management by wholesale customers, particularly in the U.S., which are factors that have impacted our net sales. That said, we expect continued progress on our key growth pillars to enable us to navigate these pressures and continue to drive resilient underlying net sales."

"We believe that our scale advantages, supplier relationships, and ability to effectively navigate uncertain macroeconomic conditions and inflationary pressures through our mitigation actions, will continue to enable us to maintain our strong gross margin profile in 2026 and beyond."

"We also remain focused on disciplined cost management in a challenging environment, while continuing to invest in our long-term growth priorities. In particular, we are focused on investing in marketing to secure long-term brand growth opportunities, and we continue to expect marketing spend to increase as a percentage of net sales to approximately 6.5% in 2026, compared to 5.9% of net sales in 2025."

"Relative to the second quarter of 2026 and excluding the benefit of U.S. tariff refunds, we expect adjusted EBITDA margin to continue to improve over the course of the year as we enter seasonally stronger net sales periods and continue to take action to mitigate cost pressures."

"Furthermore, we remain focused on a disciplined approach to capital allocation with a commitment to return cash to shareholders, including through dividends and opportunistic share repurchases."

Update on the Potential Dual Listing in the United States

Mr. Gendreau commented, "We continue to prepare for a potential dual listing of the Company's securities in the U.S. Our Board of Directors and management firmly believe a dual listing will enhance shareholder value creation over time. We continue to closely monitor macroeconomic and market conditions, and in light of our view for improvement in our business, we intend to complete our dual listing in 2026 if conditions improve."

2026 First Half Results – Conference Call for Analysts and Investors:  

Date: Thursday, August 13, 2026
Time: 08:30 New York / 13:30 London / 20:30 Hong Kong
Webcast Link:  https://edge.media-server.com/mmc/p/a9y2k6at 
Teleconference Dial-in Registration Link:
https://register-conf.media-server.com/register/BI9048eb380f8e49939595fb1db5dd1824
(Dial-in details will be sent to registrants by email after registration)
Audio Webcast Replay Link: https://edge.media-server.com/mmc/p/a9y2k6at  

Key Financial Highlights for the Second Quarter Ended June 30, 2026

Key Financial Highlights for the First Half Ended June 30, 2026

First Half Ended June 30, 2026 and June 30, 2025 – Net Sales by Region, Brand, Product Category, and Distribution Channel

Non-IFRS Financial Measures

In addition to our results determined in accordance with IFRS Accounting Standards, we review certain non-IFRS financial measures, including constant currency net sales growth, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted basic and diluted earnings per share and adjusted free cash flow, as detailed in this section, to evaluate our business, measure our performance, identify trends affecting us, formulate business plans and make strategic decisions.

We believe that these non-IFRS financial measures, when used in conjunction with our IFRS Accounting Standards financial information, allow investors to better evaluate our financial performance in comparison to other periods and to other companies in our industry. However, non-IFRS financial measures are not defined or recognized under IFRS Accounting Standards, are presented for supplemental informational purposes only and should not be considered in isolation or relied on as a substitute for financial information presented in accordance with IFRS Accounting Standards. Our presentation of any non-IFRS financial measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Other companies in our industry may calculate non-IFRS financial measures differently, which may limit their usefulness as comparative measures.

Our non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for an analysis of our results under IFRS Accounting Standards. Constant currency net sales growth is limited as a metric to review our financial results as it does not reflect the impacts of foreign currency on reported net sales. Some of the limitations of adjusted EBITDA and adjusted EBITDA margin include not capturing certain tax payments that may reduce cash available to us; not reflecting any cash capital expenditure requirements for the assets being depreciated and amortized that may have to be replaced in the future; not reflecting changes in, or cash requirements for, our working capital needs; and not reflecting the interest expense, or the cash requirements necessary to service interest or principal payments. Some of the limitations of adjusted net income and adjusted basic and diluted earnings per share include not capturing the effect of a number of costs, charges and credits and certain other non-cash charges, along with their respective tax effects, that impact our reported profit. Some of the limitations of adjusted free cash flow include that it does not reflect our future contractual commitments or consider certain cash requirements such as debt service requirements and does not represent the total increase or decrease in our cash balance for a given period. Because of these and other limitations, our non-IFRS financial measures should be considered along with comparable financial measures prepared and presented in accordance with IFRS Accounting Standards.

Constant Currency Net Sales Growth

We present the percent change in constant currency net sales to supplement our net sales presented in accordance with IFRS Accounting Standards and to enhance investors' understanding of our global business performance by excluding the positive or negative year-over-year impact of foreign currency movements on our reported net sales. To present this information, current and comparative prior period results for entities with functional currencies other than U.S. dollars are converted into U.S. dollars by applying the average exchange rate of the period under comparison to current period local currency results, rather than the actual exchange rates in effect during the respective periods. We believe presenting constant currency information provides useful information to both management and investors by isolating the effects of foreign currency exchange rate fluctuations that may not be indicative of our core operating results.

Adjusted EBITDA and Adjusted EBITDA Margin 

Adjusted EBITDA, a non-IFRS financial measure, eliminates the effect of a number of costs, charges and credits and certain other non-cash charges. Adjusted EBITDA is defined as profit for the period, adjusted to eliminate income tax expense, finance costs (excluding interest expense on lease liabilities), finance income, depreciation, amortization (excluding amortization of lease right-of-use assets), share-based compensation expense, cloud-based enterprise resource planning ("ERP") system implementation costs, and other adjustments. Adjusted EBITDA margin, a non-IFRS financial measure, is defined as adjusted EBITDA divided by net sales. We believe adjusted EBITDA and adjusted EBITDA margin provide additional information that is useful in gaining a more complete understanding of our operational performance and of the underlying trends of our business.

For the Second Quarter Ended June 30, 2026
The following table reconciles adjusted EBITDA and adjusted EBITDA margin to our profit for the period and profit margin, the most directly comparable financial measures stated in accordance with IFRS Accounting Standards, for the three months ended June 30, 2026 and June 30, 2025:  

For the First Half Ended June 30, 2026
The following table reconciles adjusted EBITDA and adjusted EBITDA margin to our profit for the period and profit margin, the most directly comparable financial measures stated in accordance with IFRS Accounting Standards, for the six months ended June 30, 2026 and June 30, 2025:  

Adjusted Net Income and Adjusted Earnings Per Share

Adjusted net income, a non-IFRS financial measure, eliminates the effect of a number of costs, charges and credits and certain other non-cash charges, along with their respective tax effects, that impact our reported profit attributable to equity holders, which we believe helps to give securities analysts, investors and other interested parties a more complete understanding of our underlying financial performance. Adjusted net income is defined as profit attributable to equity holders, adjusted to eliminate changes in the fair value of put options included in finance costs, amortization of intangible assets, restructuring reversals, preparedness costs for a potential U.S. dual listing, cloud-based ERP system implementation costs, and tax adjustments. Adjusted basic and diluted earnings per share, both non-IFRS financial measures, are calculated by dividing adjusted net income by the weighted average number of shares used in the basic and diluted earnings per share calculations, respectively.

For the Second Quarter Ended June 30, 2026
The following table reconciles our adjusted net income and adjusted basic and diluted earnings per share to profit for the period and basic and diluted earnings per share, the most directly comparable financial measures stated in accordance with IFRS Accounting Standards, for the three months ended June 30, 2026 and June 30, 2025:  

For the First Half Ended June 30, 2026
The following table reconciles our adjusted net income and adjusted basic and diluted earnings per share to profit for the period and basic and diluted earnings per share, the most directly comparable financial measures stated in accordance with IFRS Accounting Standards, for the six months ended June 30, 2026 and June 30, 2025:  

Adjusted Free Cash Flow

We define adjusted free cash flow, a non-IFRS financial measure, as cash generated from operating activities, less (i) purchases of property, plant and equipment and software and (ii) principal payments on lease liabilities. We believe adjusted free cash flow provides helpful additional information regarding our liquidity and our ability to generate cash after excluding the use of cash from certain of our core operating activities. Adjusted free cash flow does not represent the residual cash flow available for discretionary expenditures since it excludes certain mandatory expenditures, and adjusted free cash flow may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

For the Second Quarter Ended June 30, 2026
The following table reconciles our adjusted free cash flow to our net cash generated from operating activities, the most directly comparable financial measure stated in accordance with IFRS Accounting Standards, for the three months ended June 30, 2026 and June 30, 2025:

For the First Half Ended June 30, 2026
The following table reconciles our adjusted free cash flow to our net cash generated from operating activities, the most directly comparable financial measure stated in accordance with IFRS Accounting Standards, for the six months ended June 30, 2026 and June 30, 2025:

About Samsonite Group
With a heritage dating back to 1910, Samsonite Group S.A. (together with its consolidated subsidiaries, the "Company", "Samsonite Group", "our", "us" or "we") is the world's best-known and largest travel luggage company and a leader in global lifestyle bags. We own and operate a portfolio of consumer-centric and iconic brands, led by Samsonite, TUMI, and American Tourister, that empower our customers' journeys with globally trusted, innovative and increasingly sustainable products. Building on our long history of industry leadership, our vision is to create a path toward a more sustainable future for its industry.

We are principally engaged in the design, manufacture, sourcing and distribution of luggage, business and computer bags, outdoor and casual bags and travel accessories throughout the world, primarily under the Samsonite, TUMI, and American Tourister brand names as well as other owned and licensed brand names. We sell our products through a variety of wholesale distribution channels, through our company-operated retail stores and through e-commerce. We sell our products primarily in Asia, North America, Europe and Latin America. The Company's ordinary shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK").

Disclaimer
Non-IFRS Financial Measures  
We have presented certain non-IFRS financial measures in this press release because each of these measures provides additional information that management believes is useful for securities analysts, investors and other interested parties to gain a more complete understanding of our operational performance and the trends impacting our business. These non-IFRS financial measures, as calculated herein, may not be comparable to similarly named measures used by other companies and should not be considered comparable to IFRS financial measures. Non-IFRS financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, an analysis of our financial results as reported under IFRS Accounting Standards.

Special Note Regarding Forward-looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by the words "aim," "anticipate," "believe," "commit," "continue," "could," "estimate," "expect," "forecast," "future," "intend," "may," "might," "ongoing," "opportunity," "plan," "positioned," "potential," "predict," "project," "strategy," "target," "trend," "will," "would," or the negative of these terms, or other comparable terminology intended to identify statements about the future. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements and opinions contained in this press release are based upon information available to us as of the date of this press release and, while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. Forward-looking statements contained in this press release include, but are not limited to, statements concerning:

• the strength and positioning of our brands and our ability to preserve their desirability;
• our ability to implement our growth strategies and expand our product offerings and market reach, including with respect to the lifestyle bags category;
• our market opportunity and our ability to grow sales in established markets with high growth potential and deepen penetration in emerging markets;
• our ability to manage our channel mix and execute on our multi-channel strategy;
• the performance of our DTC channel, including the expansion and success of our company-operated retail stores and e-commerce platforms;
• the effects of trends in the travel industry, and air travel in particular, on our business;
• our platform and other competitive advantages and the competitive environment in which we operate;
• our focus on innovative design, durability and sustainability and our ability to differentiate our products on this basis;
• our ability to tailor our brand and product strategies to local preferences;
• our future financial profile, including with respect to operating leverage and margins, and the resiliency of our operating model;
• our ability to generate cash from operations, invest in our business and return capital to shareholders;
• our in-house design, development and manufacturing abilities;
• our ability to expand our brand portfolio; 
• the proposed acquisition of BÉIS, LLC ("BÉIS"), including the expected timing and completion of the transaction, the satisfaction of closing conditions and the receipt of required regulatory approvals, and the anticipated benefits of the transaction;
• our marketing and advertising strategy and the expected growth of our marketing expenses over the long term;
• our intent to continue to spend on property, plant and equipment to upgrade and expand our retail store fleet;
• our financial position over the next twelve months and future periods, including with respect to our existing and estimated cash flows, working capital and access to financing;
• the abilities of our management team and our ability to retain such management team;
• our ability to manage the availability and cost of raw materials;
• the advantages of our sourcing and distribution model and our ability to manage inventories;
• the strength of our relationships with third-party suppliers, manufacturers, distribution, wholesale and franchise partners;
• the performance, financial conditions and capabilities of our third-party suppliers, manufacturers and other partners;
• our ability to navigate general economic conditions worldwide and the effects of macroeconomic factors on our business;
• the economic and political conditions of foreign countries in which we operate or source our merchandise, including the direct and indirect effects of regional conflicts such as the ongoing conflict in Iran and elsewhere in the Middle East;
• the effects of changes in tariffs and other trade policies on global macroeconomic and geopolitical conditions and on our business, as well as our ability to navigate such changes;
• the effects of foreign currency fluctuations on our business;
• our commitment to sustainability;
• climate change and environmental, social and governance ("ESG")-related matters, as well as legal, regulatory or market responses thereto;
• changes to laws and regulations worldwide, including advertising, materials, sanctions, trade policies, taxes, tariffs, import/export regulations, competition regulations and laws related to privacy, data security and data protection in the United States, the European Union, the People's Republic of China ("China" or the "PRC") and other jurisdictions, and our ability to comply with such laws and regulations; and
• our ability to protect our intellectual property rights in our brands, designs, materials and technologies.

Actual events or results may differ from those expressed in forward-looking statements. As such, you should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this press release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, operating results, prospects, strategy and financial needs. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, assumptions and other factors including, among other things, risks related to: the effects of consumer spending and general economic conditions; adverse impacts on the travel industry, especially air travel, including due to geopolitical events; any deterioration in the strength of our brands, or our inability to grow these brands; our inability to expand internationally or maintain successful relationships with local distribution and wholesale partners; the competitive environment in which we operate; our inability to maintain our network of sales and distribution channels or manage our inventory effectively; our inability to grow our digital distribution channel and execute our e-commerce strategy; our inability to promote the success of our retail stores; deterioration or consolidation of our wholesale customer base; the financial health of our wholesale customer base; our inability to maintain or enhance our marketing position; our inability to respond effectively to changes in market trends and consumer preferences; harm to our reputation; manufacturing or design defects in our products, or products that are otherwise unacceptable to us or to our wholesale customers; the impacts of merchandise returns and warranty claims on our business; our inability to appeal to new consumers while maintaining the loyalty of our core consumers; our inability to exercise sufficient oversight over our decentralized operations; our inability to attract and retain talented and qualified employees, managers, and executives; our dependence on existing members of management and key employees; our inability to accurately forecast our inventory and working capital requirements; disruptions to our manufacturing, warehouse and distribution operations; our reliance on third-party manufacturers and suppliers; the impact of governmental laws and regulations and changes and uncertainty related thereto, including tariffs and trade wars, export controls, sanctions and other regulations on our business; our failure to comply with U.S. and foreign laws related to privacy, data security and data protection; the complex and changing laws and regulations worldwide to which we are subject; our failure to comply with, or liabilities under, environmental, health and safety laws and regulations or ESG and sustainability-related regulations; our failure to satisfy regulators' and stakeholders' requirements and expectations related to sustainability-related matters; the proposed acquisition of BÉIS, including our inability to consummate the transaction on the anticipated terms or timeline or at all, difficulties in integrating or supporting the acquired business or in retaining its key personnel and commercial relationships, and our failure to realize the anticipated benefits of the transaction; the impact of legal proceedings and regulatory matters; the complex taxation regimes to which we are subject, including audits, investigations and other proceedings, and changes to such taxation regimes; our accounting policies, estimates and judgments, the effect of changes in accounting standards or our accounting policies; and the risks described in the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Risk Factors" in our 2025 annual report.

The preceding paragraph and list are not intended to be an exhaustive description of all of our forward-looking statements or related risks. The forward-looking statements contained in this press release speak only as of the date of this press release. You should refer to the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Risk Factors" in our 2025 annual report for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Moreover, we operate in a highly competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this press release. While we believe that such information provides a reasonable basis for these statements, such information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.

You should read this press release with the understanding that our actual future results may be materially different from our current expectations. We may not actually achieve the plans, intentions, or expectations expressed in our forward-looking statements, and you should not place undue reliance on such forward-looking statements.

Rounding
Certain amounts presented in this press release have been rounded up or down to the nearest tenth of a million unless otherwise indicated. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that precede them. With respect to financial information set out in this press release, a dash ("—") signifies that the relevant figure is not available, not applicable or zero, while a zero ("0.0") signifies that the relevant figure is available but has been rounded to zero. There may therefore be discrepancies between the actual totals of the individual amounts in the tables and the totals shown and between the amounts in the tables and the amounts given in the corresponding analyses in the text of this press release and between amounts in this press release and other publicly available reports. All percentages and key figures were calculated using the underlying data in whole United States Dollars ("US$," "USD" or "U.S. dollars").

SOURCE Samsonite

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