In the world of luxury travel and lifestyle products, Tumi has become a well-known and highly regarded brand. Known for its high-quality luggage, bags, and accessories, Tumi has gained a loyal customer base worldwide. But who exactly owns the Tumi brand? In this article, we will explore the ownership of Tumi, its history, and its current status in the market.
Tumi was founded in 1975 by Charlie Clifford, a Peace Corps volunteer who served in Peru. Inspired by the durable and functional bags used by the locals, Clifford set out to create a brand that combined style and functionality for the modern traveler. He named the brand Tumi, after a ceremonial knife used by the indigenous people of Peru.
Tumi gained popularity quickly due to its innovative designs and high-quality materials. The brand’s focus on durability and functionality resonated with frequent travelers who needed reliable luggage. In the 1980s and 1990s, Tumi expanded its product line to include business cases, backpacks, and accessories, further solidifying its position in the market.
In 2004, Tumi was acquired by the private equity firm Doughty Hanson & Co. for approximately $276 million. This acquisition provided Tumi with additional resources and strategic support to further grow the brand internationally.
In 2012, Tumi went public and listed its shares on the New York Stock Exchange under the ticker symbol “TUMI.” The IPO raised approximately $338 million for the company. Following its public offering, Tumi continued to expand its product offerings and acquired other luxury travel brands, including Dror and T-Tech.
In 2016, Tumi was acquired by Samsonite International, one of the world’s largest luggage manufacturers. Samsonite purchased Tumi for $1.8 billion, making it one of the largest acquisitions in the travel goods industry. The acquisition allowed Samsonite to strengthen its position in the premium luggage market and expand its product portfolio.
Since the acquisition, Tumi has operated as a subsidiary of Samsonite International. Despite being under the ownership of Samsonite, Tumi continues to maintain its distinct brand identity and focuses on producing high-quality, premium travel products. The acquisition has provided Tumi with access to Samsonite’s global distribution network and resources, enabling further growth and market expansion.
Tumi has established a strong global presence with its products being sold in over 75 countries worldwide. The brand has a significant presence in both physical retail stores and e-commerce platforms, allowing customers to access its products easily.
Tumi continues to prioritize innovation and design, constantly introducing new technologies and materials to enhance the functionality and durability of its products. The brand collaborates with renowned designers and artists to create limited-edition collections, further establishing its reputation as a leader in luxury travel goods.
In recent years, Tumi has expanded beyond its core luggage and bags, venturing into lifestyle products such as apparel, accessories, and electronics. This diversification allows Tumi to cater to a wider range of customer needs and preferences, positioning itself as a comprehensive lifestyle brand.
Under the ownership of Samsonite International, Tumi is well-positioned for continued growth and success. With its commitment to quality, innovation, and customer satisfaction, Tumi is likely to maintain its reputation as a leading luxury travel brand in the years to come.
Tumi, the renowned luxury travel brand, has come a long way since its founding in 1975. From its humble beginnings to its acquisition by Samsonite International, Tumi has established itself as a symbol of quality and style in the travel goods industry. With its commitment to innovation and design, Tumi continues to evolve and expand its product offerings, ensuring its relevance in the ever-changing market. As a subsidiary of Samsonite International, Tumi is poised for further growth and success, solidifying its position as a leader in the luxury travel and lifestyle industry.
