Investor with primary focus on consumer sector

Vaibhav Saharan

Equity Bottom-Up

<p>Samsonite (1910 HK) has consistently generated low double digit organic sales growth since 1H13 (higher earlier) despite individual market variances (including China) but the pace is likely to slow to high single digits for the next one year, below the double digit long term target set by management. Together with the weak scenario for margin expansion, the company lacks short term growth catalysts. Nonetheless, Samsonite's dominant position in a favorable segment will be attractive at a forward…</p>

Samsonite (1910 HK) has consistently generated low double digit organic sales growth since 1H13 (higher earlier) despite individual market variances (including China) but the pace is likely to slow to high single digits for the next one year, below the double digit long term target set by management. Together with the weak scenario for margin expansion, the company lacks short term growth catalysts. Nonetheless, Samsonite's dominant position in a favorable segment will be attractive at a forward…

Samsonite: Rolling into Short Term Bumps After Bag-Ging Years of Impressively Consistent Growth

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<ul>
<li>The Chinese government and the destination countries have publicly stated that they can visit each other.</li>
<li>Higher ridership is the main result of this theme while consumption could also accelerate but on-the-ground research has proven Chinese tourists are not there yet. </li>
<li>
<a href="https://www.smartkarma.com/entities/keisei-electric-railway-co" target="_blank" data-smartkarma-citation="entities:10876:1" rel="noopener">Keisei Electric Railway Co (9009 JP)</a> , <a href="https://www.smartkarma.com/entities/comfortdelgro-corp-ltd" target="_blank" data-smartkarma-citation="entities:497:1" rel="noopener">Comfortdelgro Corp (CD SP)</a> , <a href="https://www.smartkarma.com/entities/airports-of-thailand-pcl" target="_blank" data-smartkarma-citation="entities:239:1" rel="noopener">Airports of Thailand (AOT TB)</a> and <a href="https://www.smartkarma.com/entities/mtr-corp" target="_blank" data-smartkarma-citation="entities:13289:1" rel="noopener">MTR Corp (66 HK)</a> are the main transport beneficiaries.</li>
</ul>


The Chinese government and the destination countries have publicly stated that they can visit each other.
Higher ridership is the main result of this theme while consumption could also accelerate but on-the-ground research has proven Chinese tourists are not there yet. 

Keisei Electric Railway Co (9009 JP) , Comfortdelgro Corp (CD SP) , Airports of Thailand (AOT TB) and MTR Corp (66 HK) are the main transport beneficiaries.


United States

Samsonite International SA designs, manufactures, and distributes luggage. The Company's products include suitcases, garment bags, casual bags, business cases, clothing, shoes, and accessories. Samsonite also licenses their trademarks for use on products such as travel accessories, leather goods, handbags, clothing, and furniture.

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Samsonite (1910 HK)

Samsonite: Rolling into Short Term Bumps After Bag-Ging Years of Impressively Consistent Growth

Samsonite (1910 HK) has consistently generated low double digit organic sales growth since 1H13 (higher earlier) despite individual market...

Vaibhav Saharan

China Tourists Coming Back: Transport

Chinese tourists are permitted to travel overseas and the destination countries are prepared to welcome them but they are yet to be seen through my...

Henry Soediarko

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