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Samsonite, Changing Sourcing locations - Coggle Diagram
Samsonite
Recovering from Covid-19
Political
Government Regulations
Samsonite suffered $700 million losses in four months following Covid travel restrictions around the world (Moon, 2020, p.1).
Economic
Exchange rates
Exchange rates can impact the sales point at which items are sold around the world. Higher exchange rates mean higher prices and most likely less sales.
Global recession
Global recession such as Covid-19 means people were spending less on travel. Now most travel bans are lifted spending is increasing.
Social
Social life changed when travel was not allowed. Now that travel can happen sales are increasing and items are being sold again (Samsonite, 2023, p.1).
Technological
Technology advancement
Fingerprint lock and other 3 in 1 lock features added to bags (Shepard, 2019, p.1).
Environmental
Changing the sourcing location to help lower costs and help with environmental footprint (Su, 2023,p.1).
Legal
Fighting a fake sale lawsuit during Covid and had it dropped will restore brand name and trust in customers moving forward (Steinberg, 2020, p.1).
Counterfeit Products
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Technological
Counterfeit products don't have the same technologies or durability as real products but hurt the brand name/image (Jokich, 2023, p.1).
Environmental
These items might not follow environmental laws for the products which hurts company image if not identified as counterfeit
Economic
Revenue is lost from counterfeiters because it is taking away from real business items that are being sold
Social
Brand image is being hurt by counterfeits. Spreading ways to help identify counterfeits will help restore this image (Samsonite Fake Website Alert | Samsonite UK, p.1).
Legal
Samsonite takes action against fake websites that claim to have their products but they can only do so much (Samsonite Fake Website Alert | Samsonite UK, p.1).
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