Samsonite Looking to Sell Lambertson Truex

"It's true we're considering selling our stake in Lambertson Truex," said Richard Brett, global vice president of marketing and communications at Samsonite's offices in London. "We want to focus on our core volume brands and brand extensions." Samsonite has several brands under its luxury Black Label line, including lines designed by Alexander McQueen and Viktor & Rolf.

Richard Lambertson, who founded Lambertson Truex a decade ago with John Truex, confirmed that the company is for sale. When it was purchased by Samsonite in 2006, industry sources estimated the brand to have annual sales of $50 million. "John and I are actively looking for a financial partner to take off where these proceedings [began]," said Lambertson. "Samsonite, up until now, has been a great partner. They helped us open the three stores. We would never have been able to do it without their support." Lambertson Truex caters to a wealthy clientele of women and men, with bag prices averaging at $3,000 to $5,000 and exotic skin pieces that can climb upward of $16,000.