Samsonite scouts for Chinese brands

Luggage manufacturer Samsonite International (1910.HKG) is seeking to acquire Chinese and Asian brands to diversify its offerings, The Wall Street Journal reported, citing company chairman Tim Parker. The US and Belgium-based firm plans to spend up to US$1 billion on acquisitions in the next two to three years, Parker said. Despite a slowdown in the Chinese economy, Samsonite expects the nation to overtake the US as its single-biggest market in as soon as three years, driven by local-brand purchases and tourism growth, Parker said in an interview.