Luggage firm Samsonite International today announced elevation of Ramesh Tainwala as its new Chief Executive Officer effective from October 1, 2014.
Tainwala, currently working as the COO of the company, will succeed Samsonite's current Chairman and Chief Executive Officer Tim Parker. Parker will assume the role of Non-Executive Chairman of the group, the company said in a statement.
Commenting on the announcement, Parker said: "Ramesh has proved himself more than capable of leading our business. In my role as Non-Executive Chairman, I will work closely with Ramesh as I direct my efforts to managing Samsonite's strategic relationships with our key stakeholders and guiding the Group's overall strategy."
Meanwhile, the company reported 24.6 per cent increase in net sales in India at USD 63.6 million and 13.8 per cent globally at USD 1,105.3 million for the first half year period ending June 30, 2014.
"The strong sales growth has been driven by the Group's more affordable American Tourister brand as well as by its continued focus on country-specific products and marketing strategies to drive increased awareness of, and demand for, Samsonite's products," the company said.
Samsonite International sells product under brands such as Samsonite, American Tourister, Hartmann, High Sierra, Gregory, Speck and Lipault.
