Exhibit 10.26

|C L I F F O R D
C H A N C E         |  | CLIFFORD CHANCE (TOKYO) LPS
GAIKOKUHO JIMUBENGOSHI JIMUSHO
TANAKA AKITA & NAKAGAWA
|----------------------------------- |  | ----------------------------------------------------------------------------------
|T A N A K A
AKITA &
N A K A G A W A |  | EXECUTION VERSION                                                                 

SAMSONITE EUROPE NV

AND

SAMSONITE
JAPAN CO., LTD.



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SUBLICENSE AND DISTRIBUTION AGREEMENT

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CONTENTS

|Clause                             |  |                                             |  | Page
|---------------------------------- |  | ------------------------------------------- |  | ----
|1.                                 |  | Interpretation                              |  | 1   
|2.                                 |  | License and Territory                       |  | 4   
|3.                                 |  | Use of Intellectual Property                |  | 4   
|4.                                 |  | Technical and Marketing Assistance          |  | 5   
|5.                                 |  | Best Efforts of Licensee                    |  | 5   
|6.                                 |  | Materials, Manufacture and product safety   |  | 6   
|7.                                 |  | Service After Sale                          |  | 7   
|8.                                 |  | Royalty                                     |  | 7   
|9.                                 |  | Indemnification, Insurance and Infringement |  | 8   
|10.                                |  | Assignment                                  |  | 9   
|11.                                |  | Copyrights                                  |  | 9   
|12.                                |  | Records                                     |  | 10  
|13.                                |  | Confidentiality                             |  | 10  
|14.                                |  | Improvements                                |  | 10  
|15.                                |  | Term and Termination                        |  | 11  
|16.                                |  | Rights on Termination                       |  | 12  
|17.                                |  | Time of Essence                             |  | 12  
|18.                                |  | Amendments and No Waiver                    |  | 13  
|19.                                |  | Entire Agreement                            |  | 13  
|20.                                |  | Limitation of Rights                        |  | 13  
|21.                                |  | Notices                                     |  | 13  
|22.                                |  | Governing Law And Arbitration               |  | 14  
|23.                                |  | Governing Language                          |  | 14  
|24.                                |  | Counterparts                                |  | 15  
|SCHEDULE 1    Samsonite Trademarks |  | 17                                         
|SCHEDULE 2    Samsonite Patents    |  | 20                                         

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THIS AGREEMENTis entered into as of 27 January 2005

BETWEEN:

WHEREAS

THE PARTIES AGREEas follows:

1.     INTERPRETATION





1

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2

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Term

Clause"Approved Supplier"

6.1"Designated Currency"

8.4"GSD"

6.1"Improvements"

14.1"Materials"

3.3"Royalty"

8.1"Service"

7.1"Term"

15.1"Termination Event"

15.2




3

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2.     LICENSE AND TERRITORY





3.     USE OF INTELLECTUAL PROPERTY



4

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4.     TECHNICAL AND MARKETING ASSISTANCE



5.     BEST EFFORTS OF LICENSEE



5

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6.     MATERIALS, MANUFACTURE AND PRODUCT SAFETY



6

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7.     SERVICE AFTER SALE



8.     ROYALTY



7

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9.     INDEMNIFICATION, INSURANCE AND INFRINGEMENT



8

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10.   ASSIGNMENT



11.   COPYRIGHTS



9

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12.   RECORDS



13.   CONFIDENTIALITY



14.   IMPROVEMENTS



10

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15.   TERM AND TERMINATION



11

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16.   RIGHTS ON TERMINATION



17.   TIME OF ESSENCE



12

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18.   AMENDMENTS AND NO WAIVER



19.   ENTIRE AGREEMENT



20.   LIMITATION OF RIGHTS



21.   NOTICES



13

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Samsonite Japan Co., Ltd.:

Akasaka Edosei Building 4th Floor, 10-8
Akasaka 7-chome, Minato-ku
Tokyo 107-0052, Japan
Fax No: (813) 5545-6771Attention:

Jun MorimotoSamsonite Europe NV:

Westerring 17, 9700 Oudenaarde, Belgium
Fax No: (32) 5531-5660Attention:

Caroline GiraldoESY Luggage Management
LPS Investment Limited Partnership:

Marunouchi 2-2-2, Chiyoda-ku,
Tokyo 100-0005, Japan
Fax No: (813) 5220-1267Attention:

Yumiko Kawaguchi


22.   GOVERNING LAW AND ARBITRATION



23.   GOVERNING LANGUAGE



14

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24.   COUNTERPARTS



15

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IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorised representatives on the date first written above.

|SAMSONITE EUROPE NV       |  |                                                    
|------------------------- |  | ---------------------------------------------------
|By:                       |  | /s/MARCELLO BOTTOLI                                
|                          |  |                                                    
|Name:                     |  | Marcello Bottoli                                   
|Title:                    |  | Managing Director                                  
|SAMSONITE JAPAN CO., LTD. |  |                                                    
|By:                       |  | /s/JUN MORIMOTO                                    
|                          |  |                                                    
|Name:                     |  | Jun Morimoto                                       
|Title:                    |  | Representative Director and Chief Executive Officer

16

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SCHEDULE 1        SAMSONITE TRADEMARKS

|Trademark Description                  |  | Docket
Number |  | Current
Registration
Number |  | Current
Application
Number |  | CL & NO          
|-------------------------------------- |  | ------------- |  | --------------------------- |  | -------------------------- |  | -----------------
|AIRFLITE                               |  | T36570        |  | 1393579                     |  | 96148/75                   |  | IN 18            
|AMERICAN TOURISTER                     |  | T70670        |  | 1891804                     |  | 58-72296                   |  | IN 18            
|AMERICAN TOURISTER &
DESIGN (CHEVRONS) |  | T69220        |  | 4408457                     |  | 11-30421                   |  | IN 18
IN 16
IN 25
|AMERICAN TOURISTER &
DESIGN (GORILLA)  |  | T71980        |  | 4,042,372                   |  | 88482/1995                 |  | IN 18            
|AMERICAN TOURISTER &
DESIGN (I.D. TAG) |  | T70680        |  | 881,208                     |  | 13546/69                   |  | IN 18            
|DEBONAIR                               |  | T36610        |  | 803863                      |  | 252100/78                  |  | IN 18            
|DESIGN (3-CRESCENT SYMBOL)
(ASSOCIATE) |  | T29870        |  | 2457153                     |  | 87436/89                   |  | IN 18            
|DESIGN (LARK BARS L DEVICE)            |  | T17300        |  | 2010667                     |  | 67521/85                   |  | IN 18            
|DESIGN (LARK BARS RHOMBUS)             |  | T17280        |  | 2010668                     |  | 67525/85                   |  | IN 25            
|EASYTURN                               |  | T70700        |  | 3182216                     |  | 84559/93                   |  | IN 18            
|EZ CART (KATAKANA)                     |  | T73250        |  | 4218922                     |  | 157112/97                  |  | IN 18            
|FASHIONAIRE                            |  | T36620        |  | 1493258                     |  | 62643/1978                 |  | IN 18            
|HORIZON                                |  | T36630        |  | 1527135                     |  | 102969/74                  |  | IN 18            
|LARK                                   |  | T13960        |  | 881180                      |  | 90175/1968                 |  | IN 18            
|LARK                                   |  | T52071        |  | 4009646                     |  | 64276/94                   |  | IN 42            
|LARK                                   |  | T52060        |  | 3089992                     |  | 282243/92                  |  | IN 37            
|LARK                                   |  | T52070        |  | T52070                      |  | 282244/92                  |  | IN 39            
|PIGGYBACK                              |  | T56000        |  | 3208246                     |  | 128600/93                  |  | IN 18            
|PIGGYBACK (KATAKANA)                   |  | T65160        |  | 4189929                     |  | 134978/97                  |  | IN 18            
|ROYAL TRAVELLER                        |  | T63470        |  | 4170799                     |  | 137589/96                  |  | IN 18            
|SAMMIES                                |  | T29490        |  | 2415425                     |  | 123257/89                  |  | IN 18
IN 21      
|SAMSON (DEFENSIVE MARK)                |  | T21950        |  | 2089674                     |  | 70325/86                   |  | IN 18            
|SAMSONITE                              |  | T54230        |  | 3098850                     |  | 23583/93                   |  | IN 20            
|SAMSONITE                              |  | T22050        |  | 597760                      |  | 206996/82                  |  | IN 18            
|SAMSONITE                              |  | T60210        |  | 3300469                     |  | 32452/95                   |  | IN 25            
|SAMSONITE                              |  | T52051        |  | 4001263                     |  | 64275/94                   |  | IN 42            
|                                       |  |               |  |                             |  |                            |  |                  

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|SAMSONITE                        |  | T60330 |  | 4000881 |  | 40669/95    |  | IN 9       
|-------------------------------- |  | ------ |  | ------- |  | ----------- |  | -----------
|SAMSONITE                        |  | T60200 |  | 3300470 |  | 32453/95    |  | IN 26      
|SAMSONITE                        |  | T60490 |  | 332751  |  | 59064/95    |  | IN 18      
|SAMSONITE                        |  | T60180 |  | 3325040 |  | 32455/95    |  | IN 24      
|SAMSONITE                        |  | T60220 |  | 3300468 |  | 32451/95    |  | IN 18      
|SAMSONITE                        |  | T52040 |  | 3089991 |  | 282241/92   |  | IN 37      
|SAMSONITE                        |  | T52050 |  | 3096522 |  | 282242/92   |  | IN 39      
|SAMSONITE                        |  | T31710 |  | 2453786 |  | 2943/90     |  | IN 16      
|SAMSONITE                        |  | T60450 |  | 4098445 |  | 59065/95    |  | IN 11      
|SAMSONITE                        |  | T60480 |  | 4082887 |  | 59063/95    |  | IN 17      
|SAMSONITE                        |  | T60190 |  | 3350512 |  | 32454/95    |  | IN 16      
|SAMSONITE & DESIGN (BLACK LABEL) |  | T75692 |  | 4540786 |  | 2001-037741 |  | IN 25
IN 18
|SAMSONITE & SYMBOL (BADGE)       |  | T66120 |  | 4300921 |  | 79408/98    |  | IN 18      
|SAMSONITE & SYMBOL (LINEAR)      |  | T52830 |  | 3223850 |  | 1534/93     |  | IN 14      
|SAMSONITE & SYMBOL (LINEAR)      |  | T66090 |  | 4300919 |  | 79408/98    |  | IN 18      
|SAMSONITE & SYMBOL (LINEAR)      |  | T60320 |  | 4041246 |  | 40670/95    |  | IN 9       
|SAMSONITE & SYMBOL (LINEAR)      |  | T60470 |  | 4098447 |  | 59067/95    |  | IN 11      
|SAMSONITE & SYMBOL (STACKED)     |  | T52840 |  | 3223849 |  | 1535/93     |  | IN 14      
|SAMSONITE & SYMBOL (STACKED)     |  | T60340 |  | 4041247 |  | 40671/95    |  | IN 9       
|SAMSONITE & SYMBOL (STACKED)     |  | T66110 |  | 4300920 |  | 79407/98    |  | IN 18      
|SAMSONITE & SYMBOL (STACKED)     |  | T60460 |  | 4098446 |  | 59066/95    |  | IN 11      
|SAMSONITE (DEFENSIVE MARK)       |  | T01800 |  | 1830665 |  | 107386/82   |  | IN 23      
|SATURN                           |  | T36680 |  | 818063  |  | 202265/79   |  | IN 21      
|SECRETARY                        |  | T36690 |  | 1366733 |  | 139527/74   |  | IN 21      
|SIGNAT                           |  | T36720 |  | 1363739 |  | 139526/74   |  | IN 21      
|SILHOUETTE                       |  | T36730 |  | 1750039 |  | 132014/73   |  | IN 21      
|SPECTRUM                         |  | T48540 |  | 2573730 |  | 100745/91   |  | IN 21      
|SYMBOL                           |  | T60160 |  | 3308347 |  | 32456/95    |  | IN 18      
|SYMBOL                           |  | T60140 |  | 3308348 |  | 32458/95    |  | IN 26      
|SYMBOL                           |  | T52091 |  | 3333442 |  | 110194/94   |  | IN 42      
|SYMBOL                           |  | T60130 |  | 3338437 |  | 32459/95    |  | IN 16      
|SYMBOL                           |  | T60150 |  | 4006348 |  | 32457/95    |  | IN 25      
|                                 |  |        |  |         |  |             |  |            

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|SYMBOL      |  | T52090 |  | 3115657 |  | 282246/92 |  | IN 39
|----------- |  | ------ |  | ------- |  | --------- |  | -----
|SYMBOL      |  | T52080 |  | 3174861 |  | 282245/92 |  | IN 37
|SYMBOL      |  | T36740 |  | 1375508 |  | 32225/73  |  | IN 18
|SYMBOL      |  | T60170 |  | 3317488 |  | 32460/95  |  | IN 24
|SYMBOL      |  | T52820 |  | 3223851 |  | 1535/93   |  | IN 14
|TRAVEL EXPO |  | T72148 |  | 4163234 |  | 107991/96 |  | IN 42
|TRUNK & CO. |  | T72171 |  | 4151361 |  | 117029/96 |  | IN 18
|WORLDPROOF  |  | T64770 |  | 4178321 |  | 116781/97 |  | IN 18

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SCHEDULE 2        SAMSONITE PATENTS

|Title                           |  | Docket
Number |  | Case
Type |  | Application
Date |  | Application
Number |  | Grant
Date     |  | Patent
Number |  | Expiry
Date
|------------------------------- |  | ------------- |  | --------- |  | ---------------- |  | ------------------ |  | -------------- |  | ------------- |  | -----------
|ACCENT 350 SERIES PULLMAN       |  | P64845        |  | Inv       |  | 26/07/1999       |  | 2000-561852        |  | Patent Pending
|AIRSTOP HANDLE                  |  | P68470        |  | D         |  | 12/07/2001       |  | 24064/2001         |  | 31/05/2002     |  | 1148046       |  | 31/05/2017 
|AIRSTOP UPRIGHT LUGGAGE CASE    |  | P68471        |  | D         |  | 12/07/2001       |  | 24062/2001         |  | 31/05/2002     |  | 1148044       |  | 31/05/2017 
|AIRSTOP ZIPPER PULL             |  | P68472        |  | D         |  | 12/07/2001       |  | 24063/2001         |  | 31/05/2002     |  | 1148045       |  | 31/05/2017 
|ALUMINUM LUGGAGE CASE (PULLMAN) |  | P66920        |  | D         |  | 25/02/2000       |  | 8116/2000          |  | 15/12/2000     |  | 1101245       |  | 15/12/2015 
|ALUMINUM LUGGAGE CASE (UPRIGHT) |  | P66921        |  | D         |  | 25/02/2000       |  | 8117/2000          |  | 15/12/2000     |  | 1101246       |  | 15/12/2015 
|BIG WHEEL                       |  | P64560        |  | D         |  | 27/03/1998       |  | 8411/1998          |  | 04/06/1999     |  | 1048487       |  | 04/06/2014 
|EGG BOX MODULAR LUGGAGE         |  | P50350        |  | Inv       |  | 20/05/1992       |  | 151264/1992        |  | 19/09/2003     |  | 3472840       |  | 20/05/2012 
|ENIGMA ATTACHE CASE             |  | P66251        |  | D         |  | 25/11/1999       |  | 32361/1999         |  | 15/12/2000     |  | 1101251       |  | 15/12/2015 
|ENIGMA LOCK                     |  | P66250        |  | D         |  | 25/11/1999       |  | 32360/1999         |  | 15/12/2000     |  | 1101250       |  | 15/12/2015 
|EPSILON PULLMAN                 |  | P60582        |  | Inv       |  | 14/07/1995       |  | 505287/1996        |  | Patent Pending
|ERGONOMIC BACKPACK              |  | P68011        |  | D         |  | 24/11/2000       |  | 37476/2000         |  | 02/11/2001     |  | 1129680       |  | 02/11/2016 
|F'LITE UPRIGHT WHEEL HANDLE     |  | P68825        |  | D         |  | 18/09/2001       |  | 31070/2001         |  | 31/05/2002     |  | 1148051       |  | 31/05/2017 
|FEMALE ATTACHE                  |  | P64236        |  | Inv       |  | 26/07/1999       |  | 2000-562280        |  | Patent Pending
|FOLDING HANGER                  |  | P65260        |  | Inv       |  | 16/04/1998       |  | 544354/1998        |  | Patent Pending
|FOLDING HANGER                  |  | P65880        |  | D         |  | 13/08/1999       |  | 21719/1999         |  | 23/06/2000     |  | 1083106       |  | 23/06/2015 
|GSI WHEEL HOUSING               |  | P65480        |  | D         |  | 24/03/1999       |  | 7186/1999          |  | 31/03/2000     |  | 1074152       |  | 31/03/2015 
|HARDLITE ATTACHE DESIGN         |  | P68624        |  | D         |  | 10/08/2001       |  | 26839/2001         |  | 31/05/2002     |  | 1148050       |  | 31/05/2017 
|HARDLITE FRAME TO SHELL PROCES  |  | P68360        |  | Inv       |  | 18/10/2000       |  | 530984/2001        |  | Patent Pending
|INNOVATIVE PIGGYBACK            |  | P27800        |  | Inv       |  | 14/04/1988       |  | 503900/198         |  | 14/11/1997     |  | 2717684       |  | 14/04/2008 
|INNOVATIVE PIGGYBACK II         |  | P26440        |  | D         |  | 04/03/1988       |  | 8668/1988          |  | 27/11/1992     |  | 861385        |  | 27/11/2007 
|OYSTER CASE (3 LATCHES)         |  | P25070        |  | Inv       |  | 08/10/1986       |  | 505288/1986        |  | 11/03/1997     |  | 2615028       |  | 08/10/2006 
|PRESSFORM SHELL MOLDING         |  | P50520        |  | Inv       |  | 15/10/1991       |  | 518482/1991        |  | 25/02/2000     |  | 3035555       |  | 15/10/2011 
|PROFLINE D-RING                 |  | P67770        |  | D         |  | 24/11/2000       |  | 37481/2000         |  | 25/04/2003     |  | 1176600       |  | 25/04/2018 
|PROFLINE POCKET CONSTRUCTION    |  | P69972        |  | Inv       |  | 23/04/2001       |  | 587618/2001        |  | Patent Pending
|PROFLINE SNAP HOOK              |  | P67773        |  | D         |  | 24/11/2000       |  | 37478/2000         |  | 22/11/2001     |  | 1131514       |  | 22/11/2016 
|STREAMLINE ZIPPER LOCK          |  | P66542        |  | D         |  | 03/02/2000       |  | 4982/2000          |  | 10/08/2001     |  | 1122318       |  | 10/08/2016 
|SWING OUT WHEEL                 |  | P65110        |  | Inv       |  | 04/04/1998       |  | 538838/1998        |  | Patent Pending
|TELESCOPING SOFTSIDE            |  | P58975        |  | Inv       |  | 17/01/1995       |  | 519229/1995        |  | Patent Pending
|                                |  |               |  |           |  |                  |  |                    |  |                |  |               |  |            

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|TELESCOPING TROLLEY    |  | P27500 |  | D   |  | 03/08/1988 |  | 30898/1988  |  | 13/04/1992     |  | 843744  |  | 13/04/2007
|---------------------- |  | ------ |  | --- |  | ---------- |  | ----------- |  | -------------- |  | ------- |  | ----------
|VERTICAL PUSHMAN       |  | P63225 |  | Inv |  | 20/11/1996 |  | 519962/1997 |  | Parent Pending
|XYLEM SOFT BEAUTY CASE |  | P69794 |  | D   |  | 24/07/2002 |  | 22797/2002  |  | 13/06/2003     |  | 1180912 |  | 13/06/2018
|XYLEM SOFT DUFFEL      |  | P69793 |  | D   |  | 24/07/2002 |  | 22796/2002  |  | 25/04/2003     |  | 1176604 |  | 25/04/2018
|ZIPLITE                |  | P57700 |  | D   |  | 16/08/1994 |  | 24650/1994  |  | 09/05/1997     |  | 988706  |  | 09/05/2012

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