DALLAS, Dec. 3, 2012 (GLOBE NEWSWIRE) -- Tandy Brands Accessories, Inc. (Nasdaq:TBAC) announced today that it has entered into a multi-year license agreement with Samsonite IP Holdings S. á r. l. to design, manufacture, market, distribute and sell products in its gift category in the United States and Canada under the brands Samsonite® and American Tourister®. The Company expects to see incremental impact in its gifts business in calendar year 2013, especially during the 2013 holiday season.
"The Samsonite and American Tourister brands are industry leading travel luggage brands that represent outstanding quality, durability, innovation and value. These brands are great additions to our gifts category and represent significant growth opportunities," said Rod McGeachy, Chairman, President and Chief Executive Officer. "This new license agreement is another significant brand partnership for Tandy Brands and helps strengthen our portfolio of top tier-brands."
"We are pleased to be partnered with Tandy Brands, a proven leader in the gifts category," said Tom Korbas, President, The Americas. "We are confident they will bring innovative products that reinforce the equities of our Samsonite and American Tourister brands."
Under the terms of the agreement, Tandy Brands will have rights in a number of product categories, including, but not limited to, cooler bags, storage containers, tools, handheld lighting and other home and personal accessories. The Company expects to drive incremental distribution in a number of wholesale channels, including national retail and department stores, clubs and mass merchants.
Samsonite International S.A. (together with its consolidated subsidiaries, the "Company") is the world's largest travel luggage company, with a heritage dating back more than 100 years. The Company is 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® and American Tourister® brand names and other owned and licensed brand names. The Company's core brand, Samsonite, is one of the most well-known travel luggage brands in the world.
About Tandy Brands
Tandy Brands is a leading designer and marketer of branded men's, women's and children's accessories, including belts, gifts, small leather goods and bags. Merchandise is marketed under various national as well as private brand names through all major retail distribution channels.
CONTACT: Tandy Brands Accessories, Inc. Rod McGeachy President and Chief Executive Officer 214-519-5200 Chuck Talley Chief Financial Officer 214-519-5200