Rimowa's revenue grew more than fourfold between 2020 and 2023, reflecting a powerful recovery from the COVID-19 crisis, which severely impacted the global travel industry. In 2020, revenue dropped by over 50 % compared to the previous year (2019), as international travel ground to a halt and demand for luggage plummeted. This steep decline highlights the brand’s vulnerability to macroeconomic shocks in the travel sector.
However, since then, Rimowa has rebounded with exceptional momentum. Between 2019 and 2023, the brand delivered a compound annual growth rate (CAGR) of approximately 13,3 %, underscoring sustained post-pandemic resilience. Operating income moved from deep losses in 2020 to robust profitability in 2023, reaching over €127 million. This turnaround illustrates increased operating leverage and strategic execution, including pricing power, tight cost controls, and further elevation of Rimowa’s premium market positioning.
Industry and Competitor Comparison
Rimowa's performance compares favourably with key players in the premium and travel gear sector:
Samsonite, the world’s largest travel luggage company, reported full-year 2023 revenue of over €3 billion, with ~20 % YoY growth, but its margins remained significantly lower than Rimowa’s, as it straddles both premium and mass-market segments.
Tumi, part of Samsonite International S.A. and closer in positioning to Rimowa, posted healthy growth in North America and Asia, though its profitability metrics trailed due to higher marketing and wholesale dependency.
In contrast, Rimowa, as part of the LVMH Moët Hennessy - Louis Vuitton portfolio, benefited from vertical integration, selective distribution, and brand collaborations, allowing it to command luxury-level margins—its 2023 profit margin exceeded 27 %, nearly double the industry average in premium luggage.
The broader luxury market grew by 8–10 % in 2023, largely driven by fashion, accessories, and experiential purchases - categories in which Rimowa’s identity as both a product and lifestyle brand has positioned it advantageously.
Strategically, while many travel and accessory brands focused on promotional volume or wholesale recovery, Rimowa leaned into scarcity, design innovation, and storytelling through high-profile collaborations. This selective, brand-led approach enabled a faster return to profitability with significantly better returns on capital and equity.
Brand and Strategic Developments
In 2023, Rimowa solidified its position as a leader in functional luxury by combining heritage craftsmanship with global cultural resonance. Through a strategic mix of limited collections, celebrity-led campaigns, cross-category product innovations, and creative collaborations, the brand continued to evolve its identity in a rapidly shifting luxury landscape.
Collection Launches
11 May 2023 – Rimowa introduced two new colours—Cedar and Petal—to its Essential polycarbonate range. Inspired by nature, the palette added a softer, lifestyle-oriented dimension to its iconic travel line.
September 2023 – The Hammerschlag Collection was unveiled, reviving a rare 1966 design with textured aluminium casing and a high-gloss finish. This archival reissue marked a celebration of Rimowa’s 125th anniversary.
2 November 2023 – Launch of the Distinct Collection, Rimowa’s return to full-leather construction. The line elevated the brand’s aesthetic beyond travel, featuring crossbody and top-handle silhouettes rooted in German precision.
Leadership
Hugues Bonnet-Masimbert continued in his role as CEO, emphasising functional innovation and category expansion, including deeper investments in leather goods and lifestyle accessories.
No major creative director changes were reported in 2023, as the brand continues to be steered by its design team and heritage-focused product strategy under the LVMH Moët Hennessy - Louis Vuitton umbrella.
Marketing Campaigns
7 September 2023 – Never Still 4 launched as the brand’s flagship campaign for the year, celebrating Rimowa’s 125th anniversary. The film featured global icons Rosé (BLACKPINK), Lewis Hamilton, and Kylian Mbappé, each narrating their personal journeys and connection to travel.
November 2023 – The Holiday 2023 campaign spotlighted Rimowa's premium positioning in the festive season, underlining themes of purposeful travel and craftsmanship.
Brand Ambassadors
8 September 2023 – Rosé of BLACKPINK was officially announced as Rimowa’s global brand ambassador, marking a significant move to strengthen appeal among Gen Z luxury consumers.
8 March 2024 – Jay Chou, one of Asia’s most influential cultural figures, joined as global ambassador, further deepening the brand’s presence across key Asian markets.
Collaborations
June 2023 – Rimowa x Tiffany & Co.: A luxury collaboration that fused Rimowa’s aluminium build with Tiffany’s signature sterling silver and branding. The capsule included jewellery cases and limited-edition suitcases.
October 2023 – Rimowa x Daniel Arsham: Launched during Paris Fashion Week, the partnership explored art-meets-travel via an eroded turntable
suitcase and a sculptural reinterpretation of Rimowa’s classic cabin case.
Ongoing collections with Supreme and Dior Men (under Kim Jones) continued in 2023 with refreshed colourways and seasonal drops, reinforcing Rimowa’s relevance in fashion-led segments.
These developments underscore Rimowa’s evolving luxury positioning: a brand equally at home in the heritage travel space and at the cutting edge of culture.
With elevated product storytelling, a refined ambassador strategy, and carefully curated collaborations, Rimowa continues to push beyond its origins to become a cross-category, cross-generational icon in the LVMH Moët Hennessy - Louis Vuitton portfolio.
Strategic Outlook
2024: Expansion and Innovation
Key initiatives included:
Product Diversification: The brand introduced new colourways, such as Sea Blue
and Mint & Papaya,
to its Essential Collection, appealing to a broader consumer base.
Collaborations: A notable partnership with designer Rick Owens resulted in a limited-edition bronze suitcase, blending Rimowa's craftsmanship with Owens' avant-garde aesthetic.
Sustainability Efforts: The launch of the Re-Crafted program in the U.S. marked a significant step towards circular economy practices, allowing customers to purchase refurbished Rimowa luggage.
Marketing Strategy: An omnichannel advertising approach increased unique reach by 25%, utilising platforms like Connected TV and digital out-of-home media to engage consumers effectively.
2025: Strategic Vision
Looking ahead, Rimowa aims to further solidify its position in the luxury travel goods market through:
Product Innovation: Continued exploration of sustainable materials and designs to meet evolving consumer preferences.
Digital Expansion: Enhancing e-commerce platforms and digital marketing efforts to reach a global audience more effectively.
Market Penetration: Targeting growth in emerging markets while strengthening presence in established ones, particularly in North America and Asia.
By focusing on these strategic areas, Rimowa is poised to maintain its trajectory of growth and innovation, ensuring its relevance and appeal in the dynamic luxury goods landscape.
Conclusion
Rimowa's record performance in 2023 underscores the brand’s successful alignment with the post-pandemic travel revival and its elevated role within the LVMH Moët Hennessy - Louis Vuitton ecosystem. Exceptional margin expansion and return ratios reflect not only strong global demand but also tight operational discipline, supply chain resilience, and premium market positioning. By the end of 2023, Rimowa had firmly re-established itself as a symbol of functional luxury, with performance indicators—such as a 27 % profit margin and €127 million in pre-tax income—far surpassing pre-pandemic levels.
In 2024, Rimowa leveraged this strong momentum to drive new strategic initiatives. The launch of seasonal colour updates (Sea Blue, Mint, Papaya), a headline-making Rick Owens collaboration, and the Re-Crafted programme in the U.S. underscored the brand’s dual commitment to innovation and sustainability. Meanwhile, omnichannel advertising boosted reach by 25 %, reinforcing Rimowa’s visibility across key global markets.
Looking to 2025, Rimowa is expected to deepen its focus on product innovation, sustainable design, and digital acceleration. With expansion plans targeted at North America, Asia, and the Middle East, the brand seeks to strengthen both DTC and retail footprints. This aligns with broader luxury travel forecasts, which continue to signal high growth potential in premium mobility and experiential consumption.
Additional Insight: While Rimowa operates in a niche category, it significantly outpaces direct competitors like Tumi or Samsonite in profitability, brand desirability, and market influence. Its integration within LVMH Moët Hennessy - Louis Vuitton offers exceptional synergies—spanning retail, communications, and craftsmanship—that few rivals can match. As affluent Gen Z and Millennial travellers reshape the meaning of luxury, Rimowa is well-positioned to remain not just a luggage brand, but a global symbol of purposeful, design-led movement.
Sources: Bain & Company and MicKinsey 2023 report, MicKinsey, Rimowa Financial 2023, 2022, 2021 reports.
Cover Image: Kylian Mbappé for Rimowa 2023, courtesy WWD.
Read the full Rimowa brand report Here.
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