Samsonite Corporation’s Vision Statement Case Study
Overview
Samsonite Corporation’s vision statement reads “our mission is to be the reference point as the leader in the travel industry.” Their mission is “providing innovative solutions for the traveling world.” Samsonite recently appointed a new CEO, Marcello Bottoli. Bottoli has significant experience in major companies European operations. He also serves as managing director of Samsonite in Europe from his office in Oudenaarde, Belgium. Bottoli was hired during a major shake-up at Samsonite to deal with a decline in performance.
History
Samsonite was started by Jesse Shwayder in 1910 as Shwayder Trunk Manufacturing Company based in Denver, Colorado. Shwayder had ten employees and sold inexpensive luggage and trunks in the western US. In 1941, just before Pearl Harbor and the US entrance into World War II, Shwayder introduced the Samsonite name with a new line of luggage called Samsonite Streamline. Samson was chosen because the name suggested the strength and durability of the new line.
The 1950’s saw the introduction of two new brands, the Ultralite and Silhouette. They boasted new materials and construction. They were followed by the Samsonite Classic Attaché in the 1960’s. The Attaché’s introduction changed how Samsonite operated as a company. Market research, distribution, advertising, and design were all changed by this line and these changes led to innovative product development in the years to come. In fact, Samsonite had become a household name for luggage by 1965.
Shwayder Bros Inc became Samsonite Corporation in 1965. Samsonite introduced its first hard sided luggage line in 1969, it was the Saturn line. With the help of the Saturn and Attaché Samsonite grew quickly during the 1970’s. The introduction of even more lines in the soft-sided luggage division allowed the company to open two new plants in Mexico and Arizona.
Samsonite acquired Lark in 1984 and used this acquisition to enter into the premium luggage market. The Oyster case, a new hard-sided suitcase, was developed by Samsonite’s European Division during this time and this line not only grew quickly in popularity but also garnered awards for the company. The European division also came out with the Prestige Attaché at this time.
Samsonite continued to expand in the 1990’s. They acquired American Tourister and with it a new market of family and vacation travelers desiring quality luggage at a moderate price. Footwear was added to Samsonite’s line in Italy in 1994. Chinese production was launched in 1997. Travel-ware was introduced in 1999 with Samsonite’s Black Label clothing division. 2000 marked the first women’s-wear, accessories, and footwear all under the name of Samsonite Black Label.
Samsonite has recently restructured and recapitalized. It closed plants in Mexico,