January 2012. On a cold and dreary London morning, Doughty Hanson (DH) investment committee was discussing the future of the firm’s Tumi investment. At stake was the definition of the proper exit strategy for the high-end luggage company DH had acquired in 2004 in a secondary buyout, a company that now generated some US$330 million in sales. Was this the right time to sell or should DH continue to build the company? Every assumption would be challenged: not only the valuations likely to be achieved but also the likely timing and predictability of the exits and the remaining potential for value creation. For DH, the story started in 2003; during the following eight years, DH and the Tumi management team achieved a three-fold growth in sales and close to a four-fold increase in EBITDA, an effort strongly supported by the DH Value Enhancement Group (VEG), a team of five internal operational experts. By January 2012 Tumi was an established global brand, with a broad portfolio of products, extensive distribution channels and a true global reach. Its products were available in over 65 countries through more than 1,600 points of sale. Key logistics facilities had been established in the United States, Europe and Asia. On December 13, 2011 Tumi announced to the world that it was contemplating an IPO. Business press articles also hinted at the fact that many large luxury goods groups were also looking at Tumi, describing it as a “natural fit.” An IPO, a trade sale to a competitor or a corporate buyer looking to diversify into luggage equipment, a tertiary private equity deal – the palette of options was ideal.
All organizations should have a plan to secure trust during, after (and even before) a crisis hits. Here are a host of examples, good and bad, to learn from.
10 years of exclusive surveys reveal top supply chain strategy challenges—and how tools like AI, ML, and digital twins are reshaping the path forward.
Uncover AI use cases and opportunities with 4 clear imperatives that align data with business value. Avoid pitfalls and ask the right questions.
Stay ahead in a shifting global economy. Learn how to build resilient supply chains, manage currency risks, and adapt strategies for long-term business success.
The case study introduces an original way of exploring the many questions and concerns around AI adoption in business. Based on a true story, it discusses the dilemma of AI implementation through Joe, the CIO of ParcelFlow. Joe is getting ready to...
#post_excerptHannele Jakosuo-Jansson of Neste and Finnair shared key insights on board roles in CEO transitions and culture shifts with IMD’s High Performance Boards program.
This case study explores AstraPay’s journey to become a significant player, despite its latecomer status, in Indonesia’s burgeoning digital payments landscape. Launched in 2018, AstraPay had grown to serve over one million customers, but it faced ...
An intelligent organizational sensory system detects, processes, and acts on change signals, giving your company a strong competitive edge.
Three Ways to Deal with Your Boss when they act against civility, empathy, and ethics. Discover strategies to handle difficult workplace dynamics effectively.
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications