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).

Share:
More In Business
Disney content has gone dark on YouTube TV: What you need to know
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
Universal Music and AI song generator Udio partner on new AI platform
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Load More