Many western brands are finding success in maturing markets in Asia. As China moves from producers to consumers, their buying power is reflected in many industries.

As a result of developing markets and savvy partnerships, Samsonite has seen great success in Asia, specifically China.

Samsonite spokesperson Quentin Shih (a.k.a. Shi Xiaofan), is a well known photographer and artist who works in New York and Beijing.  As one of the leading young Chinese photographers, Quentin Shih is well recognized for his individualistic style and globetrotting status.

Samsonite spokesperson Quentin Shih (a.k.a. Shi Xiaofan), is a well known photographer and artist who works in New York and Beijing. As one of the leading young Chinese photographers and named “Photographer of the Year” by Esquire Magazine (China), Quentin Shih is well recognized for his individualistic style and globe-trotting status.

 

Samsonite, the luggage maker, posted profit before taxes of $224.7m for 2012, up 61 per cent from the previous year as it benefited from stronger sales in Asia, its largest market, as well as the US.

The company said it benefited from a worldwide increase in travellers as well as the conversion of many customers from soft cases to moulded “hard side” luggage, which has higher margins. “The growth in tourism and travel, which underpins our business, has been robust,” said Timothy Parker, chairman.

Sales in Asia, the company’s largest market accounting for almost 40 per cent of sales, grew 21 per cent after adjusting for foreign currency effects.

Asia sales were boosted by strong demand from a growing, youthful middle class in countries such as China and South Korea. In both countries, the company’s more moderately priced American Tourister brand did well.

The strength in sales from Asia, which contributed $684m in total sales for 2012, was widespread, ranging from growth of 62 per cent in Indonesia to increases of about a third in South Korea and the Philippines. Sales in China grew by a fifth.

Read more from Forbes here.

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