Global luggage giant Samsonite Group has reported a decline in net sales and profit for the first half of FY25, citing subdued travel demand across key markets.
The company posted an adjusted net income of US$123.4 million, a 29.1 per cent drop from the same period last year.
Total net sales for the six months ended June 30 fell 6 per cent year-over-year to US$1.66 billion on a constant currency basis, with Asia and North America showing the steepest declines.
“While we believe consumers continue to prioritise travel and experiences, we observed a softening in travel demand during the first half of 2025, influenced by macroeconomic uncertainty, shifting trade policies, and weakening consumer sentiment,” said CEO Kyle Gendreau.
“We expect these trends to continue in the second half of 2025, impacting near-term demand, but we remain confident in longer-term travel tailwinds supporting the business.”
Regionally, the flagship Samsonite brand posted a 4.7 per cent sales decline, with solid growth in Europe (+0.6 per cent) and Latin America (+0.2 per cent), but weakness in Asia (-8.8 per cent) and North America (-5.7 per cent).
Tumi, the group’s premium brand, showed resilience with a smaller 2.5 per cent sales decline overall, driven by robust double-digit growth in Latin America (+18.6 per cent) and Europe (+6.2 per cent). However, sales fell in North America (-4.7 per cent) and Asia (-2.5 per cent).
The value-focused American Tourister brand experienced a steeper decline of 12.7 per cent, particularly in North America and Asia, despite a moderate increase in Europe.
Despite the downturn, the company noted a solid performance in non-travel categories, including backpacks and accessories, which grew slightly (+0.1 per cent), accounting for 36.2 per cent of total sales, led by a 14.7 per cent increase in Gregory.
In terms of market expansion, Samsonite added 21 new company-operated retail stores in the first half and continued investing in product innovation.
The group reaffirmed its focus on brand elevation and geographical growth, while preparing for a potential US listing, subject to market conditions.
