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Samsonite doesn’t break out Tumi revenues, but SVP of marketing and e-commerce Jill Krizelman confirmed the brand “continues to grow and scale”. With an average price of more than $1,000 for a check-in suitcase, Rimowa and Tumi are targeting a subset of high-income consumers. But over the past few years, players in the premium segment have emerged, to capitalize on growing demand for stylish luggage across the board. Premium luggage label Carl Friedrik launched as a leather goods/accessories brand in 2013. Since introducing its dark polycarbonate and leather luggage line in 2019, however, Carl Friedrik has experienced consistent 50% to 65% annual growth, says co-founder Niklas Oppermann. A Carl Friedrik case currently retails for around $800. The brand has gradually increased its price point over recent years, in line with rising costs as it improved the durability and quality of the cases. The brand has now found a sweet spot in the premium category where there’s less competition, Oppermann says. “Going full luxury would be very difficult for a small brand like ours,” Oppermann says. “Tumi and Rimowa are the luxury market leaders, they’re both priced significantly higher than us. These are the guys you look up to. But, on the other hand, I think we’ve done really well in separating ourselves from the lower end of the market. I’m very happy that we are not in the $300 suitcase category, because there is a lot of competition there, and a lot of new brands.”Official South Florida Bulls This Is Usf Country Defend Til The End Shirt
Elevation is the ambition for more affordable luggage label Monos. Founded in 2018 by childhood friends Victor Tam, Hubert Chan and Daniel Shin, the Canadian label launched its minimalist, high-tech luggage in 2019, and in the eight months before Covid lockdowns, it made $1 million. The brand declined to disclose revenues, but said it is profitable and growing, with plans to open four stores in the US next year. “We wanted to create something that was timeless in design that could stand up to the quality of a Rimowa, with an accessible price point,” Tam says. Right now, cases retail for around $400. But following a similar playbook to Carl Friedrik, the goal is to move upmarket as it innovates and improves its design over time. “A lot of new brands have come forward that are slightly cheaper than us. We’re not in the business of undercutting. We want to continue to move upmarket, not to the point of the heritage brands, but there are opportunities to use materials that cost more.”
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