/C O R R E C T I O N -- Samsonite/

In the news release, Samsonite Group S.A. to Acquire BÉIS, Expanding its Lifestyle Portfolio and Enhancing Digital Capabilities, issued 12-Aug-2026 by Samsonite over PR Newswire, we are advised by the company that several changes have been made to the text. The complete, corrected release follows:

Samsonite Group S.A. to Acquire BÉIS, Expanding its Lifestyle Portfolio and Enhancing Digital Capabilities

Adds Fast-Growing, Digitally Native Lifestyle Brand with Highly Engaged Consumer Following

BÉIS Founder Shay Mitchell and Existing Management Team, led by Adeela Hussain Johnson, to Continue Operating Brand After Close

MANSFIELD, Mass. and HONG KONG and LOS ANGELES, Aug. 12, 2026 /PRNewswire/ -- Samsonite Group S.A. (together with its consolidated subsidiaries, the "Company", "Samsonite Group," "our", "us" or "we"; SEHK stock code: 1910) today announced that it has entered into a definitive agreement to acquire BÉIS, LLC ("BÉIS"), a leading lifestyle and travel brand founded in 2018 by actress and entrepreneur Shay Mitchell and incubated by Beach House Group.

BÉIS is a digitally native lifestyle and travel brand that offers differentiated luggage and lifestyle bag offerings, exceptional consumer engagement, and a sophisticated digital marketing and e-commerce ecosystem. Leveraging social media, creator partnerships, and strategic brand collaborations, the company has cultivated a loyal customer base and a social media following of over 1.4 million on Instagram and more than 619,000 on TikTok. The acquisition expands Samsonite Group's travel and lifestyle portfolio while strengthening its digital capabilities and enhancing its growth profile in North America.

"We're excited to welcome BÉIS into our family of innovative and iconic brands," said Kyle Gendreau, CEO of Samsonite Group. "This transaction aligns closely with our key growth priorities: elevating awareness of consumer-centric brands, strengthening our digital capabilities to further support multi-channel growth, expanding our presence in lifestyle bags, and continuing to deliver innovative products that resonate with consumers around the world. BÉIS is spearheaded by an impressive leadership team and has cultivated a loyal customer following through differentiated products, authentic storytelling and a best-in-class digital-first business model. We see significant opportunities to accelerate BÉIS' long-term growth, while preserving the entrepreneurship, creativity, and strong brand identity that have fueled the enterprise's success since its founding."

"This is a dream come true. I'm so proud of what our small but mighty team has built over the past eight years," said Shay Mitchell, Founder and Chief Creative Officer of BÉIS. "We've always dreamed big, and joining the Samsonite Group gives us the chance to dream even bigger. They're truly the perfect partner - our strengths complement each other so well, together we can take BÉIS places we couldn't have on our own. I'm so thankful that I get to do something I love every day. Eight years in, I'm as excited as I was on day one. It honestly feels like we're just getting started, and I can't wait for everyone to see what's next."

"I'm incredibly proud of what our team has built since launching BÉIS - a profitable brand with a loyal community, built on thoughtfully designed products that make travel and everyday life easier," said Adeela Hussain Johnson, CEO of BÉIS, who helped launch and has led the brand since its inception to this milestone. "Samsonite Group shares our commitment to innovation, quality and consumer centricity, and their global scale, operational expertise and international platform will help us accelerate that growth and reach even more consumers. I'm excited to keep leading the team and business into its next chapter, staying true to the creativity and authenticity that have defined BÉIS from day one."

"When we incubated BÉIS, we recognized immediately that this was a special brand destined for great things. We're incredibly proud to have helped bring Shay's vision to life," said Shaun Neff, Founder of Beach House Group. "This exit is one we approach with great joy, as we pass the baton of this remarkable brand to Samsonite Group. We look forward to watching them take BÉIS into its next stage of growth."

Founded in 2018, BÉIS expands Samsonite Group's reach among younger, predominantly female consumers and increases its exposure to faster-growing lifestyle bag categories, which comprise approximately 50% of BÉIS' net sales. The brand has delivered rapid, profitable growth, generating approximately $210 million in 2025 net sales at attractive margins and is expected to further enhance Samsonite Group's net sales growth profile. Samsonite Group expects to leverage its global distribution network, product innovation capabilities, sourcing expertise and logistics platform to introduce BÉIS to new consumers. The acquisition is expected to have minimal impact on Samsonite Group's profitability at closing, with opportunities for operating efficiencies over time as BÉIS continues to grow and benefit from Samsonite Group's global scale and operating platform.

Following completion of the transaction, BÉIS will continue to operate as a standalone brand within Samsonite Group's portfolio, led by Adeela Hussain Johnson and its talented existing management team. Shay Mitchell has agreed to roll over approximately half of her existing equity in BÉIS and retain a 15% ownership stake in BÉIS following closing. She is committed to continue to guide the brand's long-term creative and product vision post-closing as Founder and Head of Creative and Design. Beach House Group, the majority shareholder of BÉIS, is selling its full 70% ownership stake as part of the transaction.

The transaction represents a total enterprise value of approximately $210 million on a cash-free, debt-free basis, subject to a customary net working capital adjustment. Samsonite Group will acquire 85% of the equity of BÉIS for $178.5 million, funded with cash on hand and available borrowing capacity under its revolving credit facility.

The transaction is expected to close in the fourth quarter of 2026, subject to the receipt of regulatory approvals and other customary closing conditions.

BofA Securities is serving as financial advisor, Ropes & Gray LLP is serving as legal counsel, and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to Samsonite Group. Raymond James is serving as financial advisor and Granderson Des Rochers, LLP is serving as legal counsel to BÉIS. Grubman Shire Meiselas & Sacks is serving as legal counsel to Shay Mitchell. Hirschfeld Kraemer LLP is serving as legal counsel to Adeela Hussain Johnson and Elizabeth Money.

About Samsonite Group

With a heritage dating back to 1910, Samsonite Group S.A. (together with its consolidated subsidiaries, the "Company", "Samsonite Group", "our", "us" or "we") is the world's best-known and largest travel luggage company and a leader in global lifestyle bags. We own and operate a portfolio of consumer-centric and iconic brands, led by Samsonite, TUMI, and American Tourister, that empower our customers' journeys with globally trusted, innovative and increasingly sustainable products. Building on our long history of industry leadership, our vision is to create a path toward a more sustainable future for its industry.

We are principally engaged in the design, manufacture, sourcing and distribution of luggage, business and computer bags, outdoor and casual bags and travel accessories throughout the world, primarily under the Samsonite, TUMI, and American Tourister brand names as well as other owned and licensed brand names. We sell our products through a variety of wholesale distribution channels, through our company-operated retail stores and through e-commerce. We sell our products primarily in Asia, North America, Europe and Latin America. The Company's ordinary shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK").

About BÉIS

Founded in 2018 by Shay Mitchell, BÉIS is a digitally native lifestyle and travel brand headquartered in Los Angeles, California. BÉIS has built a distinct point of view through a combination of product leadership, continuous innovation, creative direction, and marketing execution that few brands in our space can match, earning a level of cultural relevance most only aspire to. Building on this foundation, its vision is to be the trusted on-the-go brand for everyone in motion.

Its product philosophy is centered on functionality: designing dual-purpose pieces that hold up on your longest trips and still earn a spot in your everyday rotation, with features you didn't know you needed until you couldn't live without them. This product leadership is matched by a powerful innovation engine, with a launch cadence of limited-release collections and collaborations that create exclusivity and cultural relevance around the brand. Underpinning it all is a digital-first, community-built marketing approach that turns customers into evangelists, fuels real-time product feedback and drives industry-leading engagement.

It is principally engaged in developing travel and everyday essentials, including luggage, bags and travel accessories. It sells its products through its direct-to-consumer digital platform as well as through relationships with global wholesale partners, reaching a growing community of customers around the world.

Forward-looking Statements

This press release contains forward-looking statements. Forward-looking statements reflect the Company's current views with respect to future events and performance and are not historical facts. These statements may discuss, among other things, the Company's growth, strategies, plans, achievements, distributions, organizational structure, future store openings or closings, market opportunities and general market and industry conditions; as well as the proposed transaction between Samsonite Group and BÉIS, including the expected timing and completion of the transaction and the satisfaction or waiver of the conditions to closing, the receipt of required regulatory approvals, the estimated or anticipated future results and benefits of Samsonite Group and BÉIS following the transaction, including estimated synergies, the likelihood and ability of the parties to successfully consummate the proposed transaction, and future opportunities for the combined company. The Company generally identifies forward-looking statements by words such as "expect", "accelerate", "expand", "vision", "committed", "estimate", "project", "anticipate", "target", "aim", "forecast", "outlook", "opportunity", "continue", "may", "will", "would", "should" and "could" or similar words or statements. Forward-looking statements are based on beliefs and assumptions using currently available information and on the current expectations of BÉIS and Samsonite Group management, and are not guarantees of future performance, actions or events. Such forward-looking statements are subject to risks and uncertainties regarding Samsonite Group and BÉIS's respective businesses. These risks and uncertainties include, but are not limited to, changes in the business environment in which Samsonite Group and BÉIS operate, including inflation and interest rates, and general financial, economic, regulatory and political conditions; changes in taxes, governmental laws, and regulations; competitive product and pricing activity; the difficulties of managing growth profitably; the loss of one or more members of Samsonite Group's and BÉIS's management team; the inability of the parties to successfully or timely consummate the proposed transaction, including the risk that the required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the transaction; failure to realize the anticipated benefits of the transaction, including as a result of a delay in consummating the transaction or a delay or difficulty in integrating the businesses of Samsonite Group and BÉIS or in supporting the BÉIS business while operating it as a standalone brand; the inability to realize the expected amount and timing of cost savings and operating synergies; the failure to satisfy other closing conditions, or the termination of the definitive agreement; and those discussed in the Company's Annual Report for the year ended December 31, 2025 under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations –  Risk Factors," as updated from time to time by the Company's Interim Reports and other documents of the Company on file with The Stock Exchange of Hong Kong Limited. If one or more of these risks or uncertainties materialize, or if management's underlying beliefs and assumptions prove incorrect, actual results may differ materially from those contemplated by a forward-looking statement. There may be additional risks that neither Samsonite Group nor BÉIS presently know or that BÉIS and Samsonite Group currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Among the factors that could cause actual results to differ materially are: the effect of worldwide economic conditions; the effect of political or social unrest and armed conflict; the effects of inflation or high oil prices; a general economic downturn or generally reduced consumer spending or reduced demand for travel; significant changes in consumer spending patterns or preferences; competition; changes in tariffs, trade policy and other governmental regulation; interruptions or delays in the supply of finished goods or key components; the performance of Samsonite Group's or BÉIS's products within the prevailing retail environment; and financial difficulties encountered by customers and related bankruptcy and collection issues. Forward-looking statements speak only as of the date on which they are made. The Company's shareholders, potential investors and other interested parties should not place undue reliance on these forward-looking statements. The Company expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:

Samsonite Group

United States: Samsonite Group S.A. | Tel: +1 508 851 1586 | Alvin Concepcion | [email protected]

Hong Kong: Samsonite Group S.A. – Hong Kong Branch | Tel: +852 2422 2611 | William Yue | [email protected] | Helena Sau | [email protected]

United States: Joele Frank, Wilkinson Brimmer Katcher | Tel: +1 212 355 4449 | Michael Freitag / Tim Ragones / Ed Trissel | [email protected]

BÉIS

United States: The Lede Company | Rachel Barke | Tel: +1 817 691 9938 | [email protected] 

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SOURCE Samsonite; BÉIS