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).
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Trump administration has issued its first warnings to online services that offer unofficial versions of popular drugs like the blockbuster obesity treatment Wegovy.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
