Why Samsonite Just Paid $178.5M for BÉIS
Samsonite agreed to buy an 85% stake in Los Angeles-based luggage and lifestyle brand BÉIS for $178.5 million, valuing the company at about $210 million. The deal, expected to close in Q4, gives the legacy giant access to BÉIS’s digitally native audience and profitable $210 million annual sales. For LA entrepreneurs, the acquisition highlights how strong community-driven brands incubated locally can attract major global buyers.
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Summary written by Entrepreneurs Of Los Angeles. The original reporting belongs to dot.LA; we do not republish the article.