Tumi Holdings, Inc. (NYSE:TUMI), the leading global brand of premium travel, business and lifestyle products and accessories, today announced that it has completed the acquisition of the remaining 50% stake in its Japanese joint venture, Tumi Japan, which was first announced on November 4, 2015. The acquisition further strengthens Tumi’s position within the Japanese and Asia Pacific region.

Tumi Japan operates a network of 13 Tumi stores and an e-commerce website, and distributes Tumi product across an additional 150 points of sale in Japan.

Jerome Griffith, Chief Executive Officer and President of Tumi, said, “This acquisition further strengthens Tumi’s position within the Japanese and Asia Pacific region. We have been pleased with the strong acceptance of our brand among Japanese consumers and remain excited about the long-term growth prospects of this region. We look forward to welcoming the Tumi Japan team into the Tumi family and look forward to integrating this region into the business, sharing our expertise, brand power, and retail strategy to drive it to the next level.”

The Company continues to expect that this acquisition will be earnings neutral to the Company’s consolidated financial results in 2016, and accretive to earnings thereafter.

About Tumi

Tumi is the leading global brand of premium travel, business and lifestyle products and accessories. The brand is sold in over 1,900 points of distribution from New York to Paris to London and Tokyo, as well as in the world’s top department, specialty and travel retail stores in over 75 countries. For more information, please visit www.tumi.com.

Forward-Looking Statements

This release contains forward-looking statements, which address a variety of subjects including, for example, the Company’s expectation for the transaction to be earnings neutral to the Company’s consolidated financial results in 2016, and accretive to earnings thereafter, and the Company’s assessment of the long-term growth prospects of the Japanese region. All statements other than statements of historical fact, including without limitation, those with respect to the Company’s goals, plans, expectations and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: changes in consumer spending and general economic conditions; a decrease in travel levels; interruption in supply; inventory management and product quality control issues with our contract manufacturers; an inability to open new store locations in a timely and profitable manner; increases in costs of materials, labor or freight; the impact of counterfeiting and transshipping; risks of operating internationally, including exchange rate fluctuations; and the success of new product introductions. For a detailed discussion of cautionary statements that may affect the Company’s future results of operations and financial results, please refer to the Company’s filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Forward-looking statements represent management’s current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us except as otherwise required under federal securities laws.