Shay Mitchell has sold her travel bag company BÉIS to luggage giant Samsonite in a deal with around $210 million.
Shay Mitchell has sold her travel bag company in a deal worth around $210 million.
The Pretty Little Liars star founded BÉIS – which sells affordable luggage, passport holders and other accessories – back in 2018 and has hailed Samsonite’s acquisition of the brand a “dream come true”.
Shay will retain 15% ownership in BÉIS, with Samsonite Group acquiring a total 85% stake in the firm for $178.5 million, buying out Beach House Group’s 70% ownership stake and an additional 15% from the 39-year-old acrtess, and she is excited about what the future holds for the firm.
She said in a statement: “This is a dream come true. I’m so proud of what our small but mighty team has built over the past eight years.
“We’ve always dreamed big, and joining the Samsonite Group gives us the chance to dream even bigger.
“They’re truly the perfect partner — our strengths complement each other so well, together we can take BÉIS places we couldn’t have on our own. I’m so thankful that I get to do something I love every day.
“Eight years in, I’m as excited as I was on day one. It honestly feels like we’re just getting started, and I can’t wait for everyone to see what’s next.”
Luggage giant Samsonite are equally thrilled with the deal.
Samsonite Group CEO Kyle Gendreau said: “We’re excited to welcome BÉIS into our family of innovative and iconic brands.
“This transaction aligns closely with our key growth priorities: elevating awareness of consumer-centric brands, strengthening our digital capabilities to further support multi-channel growth, expanding our presence in lifestyle bags, and continuing to deliver innovative products that resonate with consumers around the world.
“BÉIS is spearheaded by an impressive leadership team and has cultivated a loyal customer following through differentiated products, authentic storytelling and a best-in-class digital-first business model.
“We see significant opportunities to accelerate BÉIS’ long-term growth while preserving the entrepreneurship, creativity, and strong brand identity that have fueled the enterprise’s success since its founding.”
The Baywatch actress previously shared her excitement at launching her brand.
She told Us Weekly in 2018: “It’s a fun thing to not just be the face of the brand but to really be in it. I can literally tell you why I chose the zippers.
“I am never not on the road. Yes, you can go and buy a luggage that’s beautiful but expensive, but I want people to go out and see the world and do it with a cute bag that you don’t have to spend a ton on.”
Shay Mitchell sells major stake in travel bag company to Samsonite
