Luggage Industry Disruptor Away Plans to Triple Revenues Next Year
Luggage company Away has high hopes for next year, expecting sales to triple in 2018.
One thing driving that growth could be the new product line CEO Stephanie Korey told Cheddar is in the pipeline, though she didn’t specify exactly what’s to come. The founder also credits the company’s business-to-consumer model with propelling growth, as well as its ability to manage inventory, something that is often a hurdle for start-ups.
“I’m probably one of the few CEOs out there whose entire background before becoming a CEO was in supply chain,” Korey told Cheddar. “We have created a very responsive, fast supply chain.”
Founded in 2015, Away has already sold more than 250,000 suitcases and grown from 4 to 100 employees. The company has raised $31 million dollars in funding, and Korey says she’s not looking to raise more capital in the near future.
Away’s decked out luggage features laundry bags, interior compartments, and a built-in USB charger. The tech features are something that have come into focus recently, after major airlines banned the use of smart luggage with non-removable lithium-ion batteries.
The new rules don’t affect Away, though, because its batteries are removable.
“We anticipated the potential for regulations to change around batteries,” Korey said. “From the start we built the battery removable, so there’s no impact to us with the new regulations.”
The policies from Delta, Alaska, and American Airlines go into effect on January 15, 2018.
For full interview [click here] (https://cheddar.com/videos/aways-big-year-and-plans-for-expansion).
Holiday shopping heats up as big-box earnings reveal how Walmart, Target & Home Depot are navigating consumer pressure, strategy shifts and trends shaping 2025.
The Campbell’s Co. said Tuesday it has placed one of its executives on leave while it investigates claims that he made racist comments and mocked the company’s products and customers in an audio recording.
Elon Musk’s X unveiled a feature that lets users see where an account is based. Online sleuths and experts quickly found that many popular accounts, often posting in support of the U.S. MAGA movement with thousands or hundreds of thousands of followers, are based outside the U.S. This raises concerns about foreign influence in U.S. politics.
The Enhanced Games is going public in two ways — with a new listing on the Nadsaq stock exchange and also by offering a direct-to-consumer business focused on performance products.
Real estate software company RealPage has agreed to stop sharing nonpublic information between landlords as part of a settlement with the Department of Justice.
Thanksgiving travel is set to smash records as millions fly, drive, and ride despite FAA disruptions and economic uncertainty. Here’s what you need to know.
AI, BNPL and new digital tools are reshaping holiday shopping. PayPal’s Michelle Gill shares survey insights, tech trends, and tips for smarter spending in 2025
'The Chair Company' blends sharp satire with workplace conspiracy. Lake Bell joins us to talk its corporate themes, quirky characters, and why viewers love it!
