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Founder of luggage maker Eminent under investigation

Founder of luggage maker Eminent under investigation

TAIPEI (Taiwan News) – Dick Hsieh, the founder and chairman of suitcase maker Eminent Luggage Corporation, was under investigation for insider trading, reports said Wednesday.
The Tainan District Prosecutors Office raided the company’s operational headquarters in the city’s Guiren District and took several people in for questioning, reports said. It was not immediately known whether Hsieh was among them.
The investigation was being conducted according to information supplied by the Financial Supervisory Commission, prosecutors reportedly said.
In addition to Tainan, the company also has a factory in Dongguan in China’s Guangdong Province. It is building a new plant in Tainan following a government plan to encourage Taiwanese investors in China to return and invest on the island. Construction began last December and was expected to be completed by the end of next year, reports said.
According to the company’s website, Hsieh was chosen as one of Taiwan’s ten model young entrepreneurs of 1991. His use of new designs enabled the brand name Eminent to become known on a global scale, the site said.
According to the official story, Hsieh founded a precursor of Eminent in 1979 by renting an old factory with antiquated equipment. The company initially worked as an original equipment manufacturer and original design manufacturer for international luggage and fashion brands such as Samsonite, Tumi, Calvin Klein and Elle.
The Eminent brand was not launched until 1985 and has achieved a global market share of more than 30 percent, reports said.

Updated : 2021-05-15 17:17 GMT+08:00