Ricardo Beverly Hills Expands Global Presence with Acquisition of Skyway Luggage

LA MIRADA, Calif., Feb. 15, 2012 /PRNewswire/ -- Ricardo Beverly Hills, one of the largest luggage companies in the United States, announced today that it is significantly increasing the size and scope of the company with the acquisition of Seattle-based Skyway Luggage, one of the leading privately-owned companies in the travel-goods industry.

"The acquisition of Skyway plays an important strategic role in the growth of Ricardo Beverly Hills. Skyway is a trusted global brand and has been in business over 100 years, with a strong presence both in the United States and abroad," said Robert Dodson, CEO and President of Ricardo Beverly Hills.

Dodson added, "The Skyway product assortment will offer our customers a great value with broader and differentiated selections, resulting in tremendous growth for our company and overall reduced costs based on efficiencies realized from combining all resources of the companies including sourcing and streamlined logistics. This is truly a milestone in our company's history."  Ricardo Beverly Hills recently expanded its headquarters in La Mirada, CA to accommodate its high growth plans.  

"I believe that the future of the luggage industry lies in consolidations and efficiencies at the wholesale level, just as we have seen among retailers," said Skip Kotkins, former Skyway Chairman & CEO. "I have long admired Ricardo for both their excellent product sense and their sound business ethics and practices, so I am very pleased that we are able to combine these two great companies."

Paul Sarazin, Executive Vice President of Ricardo Beverly Hills commented, "The acquisition merges the power of two of the most well-known luggage brands in the world. Our team has created an aggressive business plan that will be executed internationally, including the addition of a new line of products that will debut at retailers Fall 2012.  In line with our growth plan, we are also making a positive economic impact with the addition of several new team members who will play key roles at our headquarters, as well as outstanding opportunities for sales people and distributors around the world."   

Ricardo Beverly Hills will be showcasing their new Fall 2012 products, including the Skyway line, at Booth 619 at the Travel Goods Association Show in Las Vegas, March 6th through March 8th.   

ABOUT RICARDO BEVERLY HILLS

One of the largest luggage companies in the United States, Ricardo Beverly Hills is celebrating more than 30 years in business and is an acknowledged fashion leader and trendsetter in the luggage industry. Recently named in National Geographic's book, The Ten Best of Everything, the company remains committed to designing fresh, unique and innovative luggage collections that offer quality and value at affordable prices. Ricardo Beverly Hills was founded in 1978 by Richard Ricardo Gibbs, formerly a travel products salesman who identified a need for great looking luggage with superior performance capabilities. For more: www.ricardobeverlyhills.com. For additional information on Skyway: www.skywayluggage.com.

SOURCE Ricardo Beverly Hills