Luggage e-retailer purchased by iconic travel brand
eBags is about to embark on a new journey.
The online luggage retailer is being acquired by Samsonite International. The deal, which is valued at $105 million, is part of Samsonite’s ongoing strategy to accelerate the growth of its direct-to-consumer, e-commerce business, and strengthen its existing digital capabilities, the company reported.
eBags, which will become a wholly-owned subsidiary of Samsonite, will keep its name, remain in Greenwood Village, Colorado, and CEO Mike Edwards will continue to be the head of the company, according to the Denver Post.
The transaction is expected to close in the second quarter of 2017.
eBags, which was founded in 1998, has created a niche online selling travel bags and accessories. In addition to selling merchandise under the eBags brand, it also carries luggage from leading travel and fashion brands — including Samsonite.
“This is an exciting day for eBags and we are thrilled to be joining the Samsonite family. Their considerable experience and well-established presence in the travel luggage industry, together with our digital capabilities and passion for travel, are a perfect match,” said eBags’ Edwards. “We look forward to forging a strong partnership, and to ensuring that our customers are given the best service and a diverse and compelling product offering.”
eBags reported net sales of $158.51 million for the fiscal year ended December 25, 2016, an increase of 23.5% from $128.3 million during the fiscal year ended December 27, 2015.
Former Hhgregg exec to head up operations for sporting goods retailer
Academy Sports + Outdoors is bolstering its executive team.
The sporting good chain appointed Sam Johnson as its executive VP of retail operations, effective April 24. In his new role, Johnson will oversee the day-to-day operations of Academy's more than 225 stores, as well as lead the store support team.
Johnson has spent the last seven years at Hhgregg, where he most recently served as chief retail officer. During his tenure at the appliance and electronics retailer, Johnson led store operations, customer relations, commercial sales, real estate and visual merchandising.
Prior to that, he spent more than 20 years in various leadership roles with Sears Holding Corp.
The $4.7 billion sporting goods chain operates stores throughout Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee and Texas, where the company is based.
CEO of specialty apparel chain out
The fashion retailer known for its bold, colorful designs is losing its chief executive.
Benetton Group’s Marco Airoldi will resign as of May 16. The board accepted his resignation on Tuesday.
Airoldi joined the company in 2013 – first as a consultant, then as CEO and managing director. During his tenure, he has contributed to the definition and subsequent launch of the company’s refocus and relaunch plan, which targets a selection of markets, stores and the Benetton Group brands.
Board chairman, Francesco Gori will have power over core staff matters, according to the retailer.
Benetton also appointed Tommaso Bruso’ as COO. Bruso’, who is currently CEO of North America at Diesel, started his career at Benetton Group, first in Italy and then in the U.S. He has also been CEO for North America at Fedon and Furla.