While the title of the news story says resume padding - the resume irregularities are just a small part of the short sellers report. Hong Kong based, Samsonite is a large player in the luggage market and indeed in India as well. It seems that auditors of its indian subsidiary have resigned 2 times and its on its 3rd auditor in 3 years. Add to this there are some questionable purchase accounting tricks and inventory valuation gimmicks claimed in the report.
The main allegation that caught my attention is the channel stuffing through its indian subsidiary bagzone and compares Samsonite to a mid level “walmart” kind of a brand. Its inventory turns in Asia are 5 - 6 months which are roughly similar to those reported by Safari but VIP has reported at 80 days in 2017 - so there is a gap there.
All in all its a great report and gives a lot of insight into the business
One can access it at