One of the favorite weapons of the road warrior is durable, good looking luggage and travel accessories. Tumi is a name that is pretty much synonymous with that. The company, which has been catering to working women on a more focused basis with collections in pink and a collaboration with Anna Sui, has set the terms for its Initial Public Offering (IPO), which is set to price the week of 4/16.
The expected price range for the stock of $15-17. This will allow the company to raise up to approximately $320 billion off of a valuation of up to $1.15 billion. This is quite a turnaround (not to mention a profit) for Doughty Hanson and the other private equity firms that bought Tumi about 8 years ago for a reported $276 million. Tumi will trade on the NYSE under the clever ticker: TUMI.
Luxury goods, including accessories, have been strong performers. Michael Kors Holding’s IPO did so well late last year that they raised more money through a follow-on offering just a few weeks ago. So, despite a rich valuation, keep your eye on Tumi.