Randa, as part of a successful growth and acquisition strategy, executes initiatives to integrate, optimize and support its growing luggage division
United States of America (Press Release) January 2, 2008 --
(New York City, NY) December 31, 2007: In January 2007, Randa Accessories acquired Badanco Luggage, one of America’s largest luggage and travel accessories companies whose prestigious brand portfolio included Nautica, Polo Ralph Lauren, Tommy Bahama, Diane von Furstenberg, Liz Claiborne, and CHAPS.
Today, Randa announced the completion of several initiatives to complete the integration of Badanco Luggage into Randa Accessories.
Badanco Luggage has been re-branded “Randa Luggage,” effectively leveraging the competencies and relationships of other Randa divisions, and advancing the position of Randa as the leader in lifestyle accessories.
Terry Tackett, who previously served as senior vice president of sales at Randa Leather Goods has been promoted to president and CEO of Randa Luggage. Tackett joined Randa in 2001 via the acquisition of Humphrey’s Leather Goods. He led Randa Leather Goods to a greater than 50% increase in sales over the past 6 years. Peter Corritori, president and CEO of Badanco for the past two years, will leave Randa Luggage to pursue other interests. Randa Leather SVP Mary Rice will assume Tackett’s prior sales responsibilities.
Randa Luggage has created a sourcing and compliance office in Hangzhou, China and opened its first International sales office in London, U.K. Paul Nimmo, former sales director for Samsonite Luggage, has been named sales director of this division.
“Our luggage,” states Randa Chief Marketing Officer, David J. Katz, “is a lifestyle accessory, not a commodity, and therefore a perfect fit in Randa’s accessories strategy. To Randa and its partners, fashion, status and lifestyle-oriented luggage is not just a ‘once in a lifetime’ gift received for graduation or a wedding present. Randa luggage is a frequently purchased accessory, an impulse purchase chosen because it looks great, makes you feel fashionable, fits your lifestyle and brand preference, and has new features that make travel easier.”
Katz continues, “The full integration of Badanco into the Randa Accessories structure provides for more synergy between our divisions, the optimization of core competencies, and best practices in compliance, product development, sourcing, account support, in-store merchandising, and trend analysis. Randa welcomes Terry Tackett to our luggage division with our full support and absolute confidence in continued growth and success. We also wish the best to Peter in his future endeavors.”
Randa Accessories is the leading manufacturer, distributor and marketer of lifestyle accessories including belts, wallets, neckwear, small leather goods, luggage, casual bags, business cases, and gifts. Randa also provides in-store services and training for industry-leading clients.
From its origin as a neckwear company over seventy years ago, Randa now sells best-in-class fashion, lifestyle, luxury, and private branded products to major retailers in all channels of distribution. The company's products are sold in more than 8,000 doors, worldwide. For more information please visit www.randa.net.
Contact: Aileen Brody
Randa Accessories
Phone: (212) 478 4742
Fax: (212) 768 8585
120 West 45th Street, 38 Fl.
New York City, NY 10036
www.Randa.net
BrodyA@randa.net
Today, Randa announced the completion of several initiatives to complete the integration of Badanco Luggage into Randa Accessories.
Badanco Luggage has been re-branded “Randa Luggage,” effectively leveraging the competencies and relationships of other Randa divisions, and advancing the position of Randa as the leader in lifestyle accessories.
Terry Tackett, who previously served as senior vice president of sales at Randa Leather Goods has been promoted to president and CEO of Randa Luggage. Tackett joined Randa in 2001 via the acquisition of Humphrey’s Leather Goods. He led Randa Leather Goods to a greater than 50% increase in sales over the past 6 years. Peter Corritori, president and CEO of Badanco for the past two years, will leave Randa Luggage to pursue other interests. Randa Leather SVP Mary Rice will assume Tackett’s prior sales responsibilities.
Randa Luggage has created a sourcing and compliance office in Hangzhou, China and opened its first International sales office in London, U.K. Paul Nimmo, former sales director for Samsonite Luggage, has been named sales director of this division.
“Our luggage,” states Randa Chief Marketing Officer, David J. Katz, “is a lifestyle accessory, not a commodity, and therefore a perfect fit in Randa’s accessories strategy. To Randa and its partners, fashion, status and lifestyle-oriented luggage is not just a ‘once in a lifetime’ gift received for graduation or a wedding present. Randa luggage is a frequently purchased accessory, an impulse purchase chosen because it looks great, makes you feel fashionable, fits your lifestyle and brand preference, and has new features that make travel easier.”
Katz continues, “The full integration of Badanco into the Randa Accessories structure provides for more synergy between our divisions, the optimization of core competencies, and best practices in compliance, product development, sourcing, account support, in-store merchandising, and trend analysis. Randa welcomes Terry Tackett to our luggage division with our full support and absolute confidence in continued growth and success. We also wish the best to Peter in his future endeavors.”
Randa Accessories is the leading manufacturer, distributor and marketer of lifestyle accessories including belts, wallets, neckwear, small leather goods, luggage, casual bags, business cases, and gifts. Randa also provides in-store services and training for industry-leading clients.
From its origin as a neckwear company over seventy years ago, Randa now sells best-in-class fashion, lifestyle, luxury, and private branded products to major retailers in all channels of distribution. The company's products are sold in more than 8,000 doors, worldwide. For more information please visit www.randa.net.
Contact: Aileen Brody
Randa Accessories
Phone: (212) 478 4742
Fax: (212) 768 8585
120 West 45th Street, 38 Fl.
New York City, NY 10036
www.Randa.net
BrodyA@randa.net
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