SAMSONITE announced its financial results for the year ended December 31, 2025. The group achieved net sales of $3.498 billion, a decrease of 2.5% compared to the previous year. Profit attributable to equity holders was $289 million, representing a decline of 16.4%. Basic earnings per share were $0.208.
The decrease in net sales was primarily due to more cautious purchasing by traditional brick-and-mortar wholesale customers amid macroeconomic uncertainty and weak consumer sentiment. This was partially offset by growth in net sales from the direct-to-consumer (DTC) channel, particularly DTC e-commerce, and sales to online retailers.
The gross profit margin for the year ended December 31, 2025, was 59.6%, a 40-basis-point decrease from the 60.0% margin recorded for the year ended December 31, 2024. During the 2025 fiscal year, the company's net sales mix continued to shift towards higher-margin regions, its DTC channel, and the TUMI brand. This favorable sales mix substantially offset gross margin pressures from US tariffs and increased strategic promotions aimed at driving sales in a weak demand environment.
The company's strong gross margin was also supported by mitigation measures related to US tariffs, made possible by its exceptional procurement team, scale advantages, and close collaboration with long-term suppliers.
The year 2025 was a mixed period. In the first half, global macroeconomic and geopolitical instability, particularly concerning US tariffs, intensified significantly. This led to weak consumer sentiment, slowed retail foot traffic, and increased caution among wholesale customers, subsequently impacting the group's net sales. The company acted swiftly and decisively to mitigate the effects of these challenges while continuing to make strategic investments for long-term growth.
Supported by successful new product innovations and impactful marketing campaigns, net sales trends improved markedly in the second half of 2025. This highlighted the resilience of the company's business model and the strong execution by its global team, laying a foundation for constant-currency net sales growth in 2026.
Concurrently, the group remained focused on key strategic priorities aimed at driving long-term growth. It continued to invest in strengthening its DTC business, undertook prudent strategic upgrades to its global retail network, and invested in software to enhance its e-commerce platform and customer engagement capabilities.
The DTC channel accounted for 41.7% of the group's net sales in 2025, up from 39.8% in 2024. Furthermore, the company continued to expand its non-travel product categories through new innovative product portfolios. As a result, non-travel product sales constituted 36.4% of net sales in 2025, compared to 34.3% in 2024.