As in previous years, Gregory performed better in 2018 than High Sierra, the more lifestyle-oriented brand of Samsonite International. Gregory, which was acquired from Black Diamond Equipment in 2014, saw its revenues go up by 12.0 percent to $58.0 million, rising by 10.6 percent in local currencies. High Sierra's sales declined by 0.1 percent to $73.7 million and were flat on a currency-neutral basis.
The Samsonite group's total revenues grew by 8.8 percent last year, reaching a level of $3,797.0 million. On a currency-neutral basis, they went up by 8.4 percent. Excluding the acquisition of eBags in May 2018, they rose organically by 7.5 percent.
Particularly strong double-digit increases were recorded across the group in Japan and India, but the growth slowed down in China and Europe during the second half, and sales declined in South Korea.
The group's gross margin improved by 0.4 percentage points to 56.5 percent, but the adjusted Ebitda margin declined by 0.4 percentage points to 16.2 percent. Net earnings fell by 29.2 percent to $236.7 million.