Tumi's planned listing bucks the trend and chooses New York

2011 was the year that a number of companies who sold high end luxury goods looked to capitalise upon the Asian demand for luxury and branded items and chose to list either on the Hong Kong or Singapore stock Exchanges.

Tumi, the private equity owned, upmarket luggage company has looked to its local Stock Exchange rather than those in the East, and has announced details of a listing on the New York Stock Exchange. The British private equity firm, Doughty Hanson and its existing management previously acquired the business in a secondary buy out from Oaktree Capital for $276m.
 
Samsonite International, who listed in June 2011 on the Hong Kong Stock Exchange, raised over $1.3bn so it will be interesting to see if Tumi can also attract strong insititutional investor interest.

 

Filed under: US, retail