Success Story Rimowa
Efficient processes for companies expanding into new countries
Rimowa is a traditional, family run company with its own luggage production facilities at its headquarters in Cologne, Germany, from where it has been operating for 150 years. The company has continued to expand and now has an international network of production facilities in the Czech Republic, Canada and Brazil in addition to its German headquarters. The hand-made luggage it produces is distributed worldwide in 65 countries, through authorised dealers, company-owned shops and flagship stores.
Travel is fashionable and worldwide the number of airline passengers is continuing to rise significantly, creating favourable conditions for the growth of Rimowa. The suitcase manufacturer has been expanding successfully for years, by increasing its range of products and moving into new markets around the globe. Rimowa was named the best SME 2015 in Germany for its high growth rates and excellent income ratios, by the consultancy Munich Strategy Group.
When setting up new companies overseas, one of the first steps is to have an in-depth understanding of the regulations and requirements in the specific countries. Therefore, Rimowa places great importance on working with a partner to manage its growth, and one who can provide the requisite country-specific knowledge, and has a simple process for opening the required accounts, to enable a smooth start in new markets.
Prior to entering the market, Commerzbank supports Rimowa by providing country-specific information on how to establish distribution companies overseas. Subsequently, Commerzbank’s standard process for opening international accounts ensures that Rimowa has an operational account with quick access to online banking. Rimowa’s German Relationship Manager is always the first point of contact for new accounts, regardless of Commerzbank’s international location. The Relationship Manager is in direct contact with the Commerzbank teams abroad and takes care of all that is required.