Shay Mitchell has built her travel brand BÉIS into a business with a valuation of around $210 million.
Samsonite are set to buy 85% of BÉIS for $178.5 million in cash – that’s according to an announcement that went out on August 13. This deal more or less values BÉIS at $210 million overall – and marks a major milestone in Mitchell’s business career. She founded the brand back in 2018.
Mitchell doesn’t appear to be stepping away from BÉIS just yet though. She and the existing team are set to stick around and keep running the show, while Samsonite takes control of the place.
How Much Are Samsonite Paying for BÉIS ?
Samsonite will shell out $178.5 million in cash for 85% of BÉIS.
Breaking that down, this means BÉIS as a whole is worth roughly $210 million.
Of course, there are a few hoops to jump through before it’s all official – and then BÉIS will join the likes of Samsonite, Tumi and American Tourister in Samsonite’s stable of brands.
The acquisition also gives Samsonite a stronger footing in the younger, digitally savvy end of the travel market – the very space where BÉIS has really made a name for itself.
How Much Will Shay Mitchell Pocket from the BÉIS Sale ?
This is where it gets a bit tricky.
The $178.5 million acquisition price isn’t an automatic payday for Shay Mitchell.
Samsonite are buying 85% of BÉIS from its existing shareholders – but that announcement doesn’t give us a clear idea how much of that 85% belongs to Mitchell, and how the cash will be split up among shareholders when it’s all said and done.
So without that information, we can’t even try to estimate how much Mitchell might get her hands on.
For example – if we just added those $178.5 million or even the full $210 million valuation to what we think Shay Mitchell’s net worth is, that would be way off the mark. The value of BÉIS is a measure of the business as a whole – not the personal wealth of its founder.
What is clear, though, is that BÉIS is now a sizeable financial asset that’s tied to Mitchell’s business career.
How Shay Mitchell Built BÉIS into a Travel Powerhouse
Mitchell launched BÉIS back in 2018 – a few years after becoming a household name for her role as Emily Fields on Pretty Little Liars.
The brand grew out of a passion for creating practical travel products with a strong focus on lifestyle. Over time, the BÉIS lineup expanded well beyond traditional luggage to include the likes of weekend bags, backpacks, totes, organisers and all sorts of travel accessories.
Mitchell also had the added bonus of a huge social-media following, which certainly helped things along. But BÉIS was never just a celebrity brand – it developed its own identity and style over time, with a direct-to-consumer model, super-recognisable designs and a growing retail presence all combining to make it a serious player in the travel-products market.
And that’s why Samsonite are willing to value the company at $210 million – to them, that looks like a sound investment.
Why was Samsonite Buying BÉIS?
For Samsonite, BÉIS represents a way to connect with a different kind of customer base.
Samsonite, with its global brand names and extensive physical retail network, is a very different beast from BÉIS which has built much of its business around e-commerce & social media and attracting younger consumers.
Combining those strengths gives BÉIS the potential to expand globally and also give Samsonite a bigger reach into the digitally-driven shopper demographic.
Samsonite has specifically highlighted BÉIS digital savvy and its appeal to a certain lifestyle as key elements of the deal.
So, this acquisition isn’t just about adding another luggage brand to the mix – Samsonite is snapping up a fast-growing consumer brand with a well-established online following and a founder who remains very closely tied to it.
What happens next for Shay Mitchell with BÉIS?
Good news for Shay Mitchell fans: the answer is – yes, she is continuing on with BÉIS.
Mitchell & the existing BÉIS management team are expected to stick around after the deal closes.
This keeps the transaction a bit different from a pure founder sell-out.
Samsonite will end up with the controlling 85% stake, but Mitchell’s continued involvement is a big deal – it preserves the personal connection that was always at the heart of BÉIS.
The deal also allows BÉIS to tap into Samsonite’s global networks while keeping the people with the brains behind the brand to keep pushing forward.
What does the deal mean for Shay Mitchell’s bank balance?
The BÉIS sale is certainly a positive move for Mitchell’s business profile, but unfortunately, it doesn’t give us a clear picture of her new net worth.
Her personal earnings will depend on a few key factors – including her ownership stake just before the deal, and any deal terms that are still private.
Taxes & other transaction details are also likely to impact what she ultimately gets from the sale.
What we can be pretty sure about is that the company she started has somehow reached an implied valuation of about $210 million – with Samsonite willing to stump up $178.5 million for 85% control.
The total price is a much clearer indicator of her success as an entrepreneur than assigning it all to her personal wealth.
From Pretty Little Liars to the helm of a $210 million luggage brand
Mitchell first earned her public profile through acting – in particular her work in Pretty Little Liars. BÉIS has now added a whole different level of financial clout to her career.
In less than a decade, she’s built a travel brand that’s not only worth $210 million but also caught the attention of one of the biggest luggage companies in the world.
BÉIS is now part of Samsonite’s global empire, but Mitchell isn’t checking out. Not yet, anyway.
The key figures here – in case you missed them – are a $178.5 million sale for a controlling stake and a $210 million valuation for BÉIS. Mitchell’s own cash-out will be disclosed – but not just yet.
