Samsonite to Buy 85% of BÉIS for US$178.5 Million
On.cc · 2 SOURCESabout 2 hours ago2 MIN
Summary
Samsonite said it will acquire an 85% stake in BÉIS, a digital-native lifestyle and travel brand founded in 2018 by actor and entrepreneur Shay Mitchell, for US$178.5 million in cash, equivalent to about HK$1.39 billion. The company expects the transaction to close in the fourth quarter of this year, after which BÉIS will become a Samsonite subsidiary while continuing to operate as an independent brand.
Key Points
- BÉIS was founded in 2018 by Shay Mitchell and was incubated by Beach House Group as a lifestyle fashion and travel brand
- Samsonite said the acquisition will expand its travel and lifestyle product portfolio and strengthen its digital capabilities, especially in North America
- Under the announced structure, Samsonite will hold 85% of BÉIS and Home Beis will retain the remaining 15% after completion
- BÉIS recorded unaudited net sales of US$209.8 million last year, with unaudited profit before and after tax of US$17.1 million and US$16.7 million
- Samsonite said BÉIS helps extend its reach to younger, predominantly female consumers, while lifestyle bags account for about half of BÉIS net sales
Why It Matters
For Hong Kong investors following Samsonite, the deal points to a push beyond traditional luggage into faster-growing lifestyle categories and digitally led branding. It also suggests the group is using acquisitions to deepen North American growth while keeping founder-led brand management in place.