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EXHIBIT 10.14.2

AMENDMENT NO. 2 TO CREDIT AGREEMENT

        This AMENDMENT NO. 2 TO CREDIT AGREEMENT (this "Amendment") is entered
into as of November 23, 2004 by and among SAMSONITE CORPORATION, a Delaware
corporation ("U.S. Borrower"), SAMSONITE EUROPE N.V., a Belgian corporation
("European Borrower") (U.S. Borrower and European Borrower are sometimes
collectively referred to herein as the "Borrowers" and each individually as a
"Borrower"), the other Credit Parties signatory hereto, GENERAL ELECTRIC CAPITAL
CORPORATION, a Delaware corporation (in its individual capacity, "GE Capital"),
for itself, as Agent and as North American Collateral Agent, and the other
Lenders signatory hereto. Unless otherwise specified herein, capitalized terms
used in this Amendment shall have the meanings ascribed to them in Annex A to
the Credit Agreement (as hereinafter defined).

R E C I T A L S:

        WHEREAS, Borrowers, the other Credit Parties, the Agent, the North
American Collateral Agent, the Fronting Lender, the European Agent and the
Lenders entered into that certain Credit Agreement dated as of July 31, 2003 (as
amended, supplemented, restated or otherwise modified from time to time prior to
the date hereof, the "Credit Agreement"); and

        WHEREAS, Borrowers have requested that the Agent and the Requisite
Lenders amend certain provisions of the Credit Agreement.

        NOW, THEREFORE, in consideration of the premises contained herein, and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

        1    Amendments.    The Credit Agreement is hereby amended as follows:

        (a)   Section 6.8 of the Credit Agreement is amended by amending and
restating clause (g) thereof to read in its entirety as follows:

"(g) the sale and leaseback (or a transfer by U.S. Borrower to the Denver SPE)
of the Denver Real Estate or any portion thereof, in each case, on terms and
pursuant to documentation (including, without limitation, a landlord's waiver
and consent from the lessor of the Denver Real Estate) reasonably acceptable to
the Agent (it being understood and agreed that the terms set forth on Annex A
attached hereto are acceptable to the Agent)."

        (b)   Section 6.12 of the Credit Agreement is amended and restated in
its entirety to read as follows:

"6.12    Sale-Leasebacks.    Other than a sale leaseback of the Denver Real
Estate to the extent permitted by Section 6.8(g), no Credit Party shall engage
in any sale-leaseback, synthetic lease or similar transaction involving any of
its assets."

        (c)   Section 1.3(b)(iii) of the Credit Agreement is amended by
replacing the phrase "Sections 6.8(a), (b), (d), (e) and (f)" therein with the
phrase "Sections 6.8(a), (b), (d), (e), (f) and (g)".

        2    Conditions to Effectiveness.    This Amendment shall be effective
on the date on which this Amendment shall have been duly executed and delivered
by the Borrowers, each other Credit Party party hereto, the Agent and the
Requisite Lenders.

        3    Representations and Warranties.    In order to induce the Agent and
the Lenders to enter into this Amendment, the Borrowers and each other Credit
Party represents and warrants to the Agent and

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each Lender (which representations and warranties shall survive the execution
and delivery of this Amendment), that:

        (a)   the execution, delivery and performance by each Credit Party of
this Amendment has been duly authorized by all necessary corporate and
partnership action (and solely in the case of each Foreign Credit Party, such
corporation and partnership action will have been ratified on or before
December 31, 2004) and this Amendment is a legal, valid and binding obligation
of such Credit Party enforceable against such Credit Party in accordance with
its terms, except as the enforcement thereof may be subject to (i) the effect of
any applicable bankruptcy, insolvency, reorganization, moratorium or similar law
affecting creditors' rights generally and (ii) general principles of equity
(regardless of whether such enforcement is sought in a proceeding in equity or
at law);

        (b)   upon the effectiveness of this Amendment, all of the
representations and warranties contained in the Credit Agreement and in the
other Loan Documents (other than those which speak expressly only as of an
earlier date) are true and correct in all material respects on and as of the
date of the effectiveness of this Amendment after giving effect to this
Amendment and the transactions contemplated hereby; and

        (c)   no Default or Event of Default exists or will result after giving
effect to this Amendment and the transactions contemplated hereby.

        4    Miscellaneous.    

        4.1    Effect; Ratification.    

        (a)   Except as specifically set forth above, the Credit Agreement and
the other Loan Documents shall remain in full force and effect and are hereby
ratified and confirmed.

        (b)   The execution, delivery and effectiveness of this Amendment shall
not operate as a waiver of any right, power or remedy of the Agent or any Lender
under the Credit Agreement or any other Loan Document, nor constitute amendment
of any provision of the Credit Agreement or any other Loan Document, except as
specifically set forth herein. Upon the effectiveness of this Amendment, each
reference in the Credit Agreement to "this Agreement", "hereunder", "hereof",
"herein" or words of similar import shall mean and be a reference to the Credit
Agreement as amended hereby.

        (c)   Each Credit Party acknowledges and agrees that the amendments set
forth herein are effective solely for the purposes set forth herein and that the
execution and delivery by the Agent and the Requisite Lenders of this Amendment
shall not be deemed (i) except as expressly provided in this Amendment, to be a
consent to any amendment, waiver or modification of any term or condition of the
Credit Agreement or of any other Loan Document, (ii) to create a course of
dealing or otherwise obligate the Agent or the Lenders to forbear, waive,
consent or execute similar amendments under the same or similar circumstances in
the future, or (iii) to amend, prejudice, relinquish or impair any right of the
Agent or the Lenders to receive any indemnity or similar payment from any Person
or entity as a result of any matter arising from or relating to this Amendment.

        4.2    Counterparts and Signatures by Fax.    This Amendment may be
executed in any number of counterparts, each such counterpart constituting an
original but all together one and the same instrument. Any party delivering an
executed counterpart of this Amendment by fax shall also deliver an original
executed counterpart, but the failure to do so shall not affect the validity,
enforceability or binding effect of this Amendment.

        4.3    Severability.    In case any provision in or obligation under
this Amendment shall be invalid, illegal or unenforceable in any jurisdiction,
the validity, legality and enforceability of the

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remaining provisions or obligations, or of such provision or obligation in any
other jurisdiction, shall not in any way be affected or impaired thereby.

        4.4    Costs and Expenses.    Borrowers agree to reimburse the Agent for
all reasonable fees, costs and expenses, including the reasonable fees, costs
and expenses of counsel or other advisors for advice, assistance, or other
representation in connection with this Amendment.

        4.5    Loan Document.    This Amendment shall be deemed to be a Loan
Document.

        4.6    Reaffirmation.    Each of the Credit Parties signatory hereto as
Guarantor hereby acknowledges and reaffirms all of its obligations and
undertakings under each of the Loan Documents to which it is a party and
acknowledges and agrees that subsequent to, and after taking account of the
provisions of this Amendment, each such Loan Document is and shall remain in
full force and effect in accordance with the terms thereof.

        4.7    GOVERNING LAW.    THIS WAIVER AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK.

<Signature Pages Follow>

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        IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first above written.

    BORROWERS
 
 
SAMSONITE CORPORATION
 
 
By:
 
/s/  RICHARD H. WILEY      

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    Print Name: Richard H. Wiley
Title: Chief Financial Officer
 
 
SAMSONITE EUROPE N.V.
 
 
By:
 
/s/  RICHARD H. WILEY      

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    Print Name: Richard H. Wiley
Title: Director
 
 
AGENTS AND LENDERS
 
 
GENERAL ELECTRIC CAPITAL CORPORATION,
as Agent, North American Collateral Agent and a Lender
 
 
By:
 
/s/  CHRISTOPHER COX      

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    Print Name: Christopher Cox
        Duly Authorized Signatory
 
 
KBC Bank NV
as European Agent, Fronting Lender and a Lender
 
 
By:
 
    

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    Print Name:
Title:
 
 
By:
 
    

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    Print Name:
Title:

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        The following Persons are signatories to this Amendment in their
capacity as Credit Parties and not as Borrowers.

    C.V. HOLDINGS, INC.
 
 
By:
 
/s/  RICHARD H. WILEY      

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    Print Name: Richard H. Wiley
Title: Secretary and Treasurer
 
 
SAMSONITE COMPANY STORES, INC.
 
 
By:
 
/s/  RICHARD H. WILEY      

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    Print Name: Richard H. Wiley
Title: Secretary and Treasurer
 
 
SC INTERNATIONAL HOLDINGS C.V.
 
 
By:
 
/s/  RICHARD H. WILEY      

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    Print Name: Richard H. Wiley
Title: Secretary and Treasurer
 
 
MCGREGOR II, LLC
 
 
By:
 
Samsonite Corporation, its Sole Member
 
 
By:
 
/s/  RICHARD H. WILEY      

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    Print Name: Richard H. Wiley
Title: CFO, Secretary and Treasurer
 
 
SC DENMARK APS
 
 
By:
 
/s/  RICHARD H. WILEY      

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    Print Name: Richard H. Wiley
Title: Manager

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AMENDMENT NO. 2 TO CREDIT AGREEMENT