The following is a summary of the Samsonite International S.A. (SMSOF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Samsonite International reported a Q4 sales increase of 30.4% to $3.7 billion, with strong growth across all brands and regions.

• EBITDA rose by 19.3% to reach $710 million, with robust gross margins at 59.3%.

• The company reinstated its dividend program following a $284 million cash generation.

• Samsonite successfully reduced its debt level to 1.53x, thereby de-levering the business.

• Q1 financials showed strong growth, particularly in China and Japan. North American EBITDA margin growth was primarily driven by the Tumi brand.

• Long-term prospects look promising, especially in China, where the company foresees its business doubling in size over the next five to seven years.

Business Progress:

• The company experienced growth across all brands, with more profitable brands such as Tumi growing at a faster pace.

• Samsonite plans to open 50-60 new stores per year, primarily in Asian markets, pushing its direct-to-consumer strategy.

• In a partnership with the U.S. National Gymnastics Team, the company has added reach and engagement to its consumer base.

• The company's D2C e-commerce sales increased by 38%, and the brand is heavily investing in this strategy.

• Significant progress has been made in sustainability with 34% of sales coming from products incorporating some level of sustainability.

• The company plans to transform the luggage industry in terms of sustainability and is also focusing on diversity, with aims to increase female leadership.

• The company is also considering potential market re-listings and eventual share buybacks to maintain shareholder value.

More details: SAMSONITE INTL SA IR

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