We forecast a revenue decline of 2% in 2024, with continued pressure in the fourth quarter, due to a sluggish economy in China and weakened global consumer sentiment. North America wholesale customers remain cautious, and promotional activity in key regions like India has weighed on performance. We project revenue growth of 3% in 2025, driven by strategic initiatives such as an expanded range of non-travel products, catering to shifting consumer preferences, and strengthened brand presence in key international markets such as Asia and Europe. While macroeconomic uncertainty persists, we believe these efforts position Samsonite for recovery as consumer demand stabilizes. Though the impact from measures implemented by the Chinese government to stimulate economic activity remains uncertain, we believe it will
