Away: A Luggage and Travel Accessories Retailer

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When buying new luggage, you might be overwhelmed with many choices in colors, styles, features, and sizes. You want not only stylish luggage or accessories but also functional and durable ones to have an amazing travel experience.

It's when you can go for Away's products. The company made waves for its gorgeous, durable, high-performing travel luggage and bags, endorsed by the coolest folks on social media.

Read on to learn more about Away, its founders, products, funding, startup story, business model, growth, future plan, and more.

Away – Company Highlights

Away – About
Away – Industry
Away – Founders and Team
Away – Startup Story
Away – Mission and Vision
Away – Business and Revenue Model
Away – Products and Services
Away – Challenges Faced
Away – Funding and Investors
Away – Patents and Trademarks
Away – Growth
Away – Marketing Strategies and Social Media Presence
Away – Partners
Away – Awards and Achievements
Away – Competitors
Away – Future Plan

Away – About

Away is a modern lifestyle brand that intends to transform travel experiences. The company is a retailer of luggage and travel accessories. With physical stores across Austin, Houston, London, Boston, Dallas, Chicago, San Francisco, Seattle, Toronto, Los Angeles, San Jose, and New York, Away has shipped millions of products to around 40 countries.

Away – Industry

The global retail market size is projected to reach $38.71 trillion in 2026 from $26.33 trillion in 2022 at a CAGR of 10.1%. the retail market consists of selling goods to ultimate users by shipping products in convenient quantities and locations. When classifying by type, the global retail market is segmented, from motor vehicles, travel, apparel, food, and beverage, to electronics, furniture and home furnishings, and healthcare.

Away operates in the travel retail market catering directly to end consumers. And this retail market segment is estimated to grow from $60.72 billion in 2023 to $175 billion by 2030. It's the Covid-19 pandemic that impacted the growth of the travel retail market to a great extent. However, the increasing number of national and internal travelers post-pandemic is projected to drive market growth over the forecast period.

Some key players in the industry are Lagardere Travel Retail, DFS Group Ltd., Dufry AG, Aer Rianta International, Away, and King Power International Group.

Away – Founders and Team

Steph Korey and Jen Rubio are the co-founders of Away.

Steph Korey

Steph Korey went to Brown University for B.A. in International Relations and Columbia Business School for MBA. She was the Head of the Supply Chain at Warby Parker and a Merchandise Strategy and Supply Chain Consultant at Casper.

Korey is the Co-founder of Away and worked as its CEO till 2020. At present, she is an Investment partner at XFactor Ventures.

Jen Rubio

Jen Rubio is a Digital marketing expert and has worked as Head of Social Media at Warby Parker and Global Head of Innovation at All Saints. Rubio co-founded Away and holds the role of the company's CEO. Moreover, she is a Trustee at the Whitney Museum of America Art.

Currently, Away is a team of over 250 employees.

Away – Startup Story

Away was launched in 2015 by Steph Korey and Jen Rubio after Rubio's luggage broke at an airport in Switzerland. Her clothes and toiletries were out of her suitcase and onto the airport floor. She tapped her suitcase to get it to her next destination. After that, Rubio was hunting for a better suitcase. It's when she reached out to her former colleague at Warby Parker, Stephanie (Steph) Korey, and the two developed an idea of having a durable hard-shell wheeled suitcase and a built-in battery pack that could charge phones and tablets.

These women borrowed $150,000 from their family and friends to start the company. They hired an industrial designer and took the luggage's blueprint to a factory in southeastern China that took a chance on two young women. In 2015, Korey and Rubio visited that factory eight times.

Away's first product, a carry-on, shipped for the first time in February 2016. In May 2017, the company expanded into editorial content by launching a podcast called 'Airplane Mode.' and, in July, a print and digital travel magazine. Cosmetics bags and fully packable travel bags were launched by Away in 2021. It launched outdoor gear like backpacks and duffels in June 2022 and travel bags for outdoor adventures in July 2022.

Away – Mission and Vision

Away aims to create equitable access to the transformative benefits of travel for every individual.

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Away – Business and Revenue Model

Away is a direct-to-consumer retailer allowing the company to sell its products directly to the customers without involving third-party distributors or wholesalers. Moreover, the company primarily sells products via e-commerce and has physical stores in several brick-and-mortar locations.

Away provides suitcases, bags, and accessories built with thoughtful details. The company uses polycarbonate, water-resistant nylon, aluminum, etc., to provide sleek, lightweight, high-performance, and durable products.

Away – Products and Services

Away provides travel suitcases, bags, organizers, and accessories.

Away – Challenges Faced

Away furloughed nearly 50% of its person staff and laid off 60 employees in 2020. Moreover, the decline in the travel industry leads to a staggering 90% drop in the company's sales. Moreover, its job posting plummeted 57% since March and Facebook mentions fell 91% in a month.

Away – Funding and Investors

Away has undertaken 5 funding rounds and raised $181 million. Its latest funding round - Series D Round, was conducted on May 14, 2019. Lone Pine Capital, Global Founders Capital, Wellington Management, Baillie Gifford, and Forerunner Ventures are some 21 investors who fund the company.

Away – Patents and Trademarks

Away is registered with patents primarily in the "Hand Or Travelling Articles" category and has 24 registered trademarks with "Leather and Imitations of Leather," the popular class.

Away – Growth

Away earned annual revenue of $150 million in 2018 and was valued at $700 million. The next year, in 2019 the company's valuation grew to $1.4 billion. However, revenue dropped to $135 million in revenue in 2020. In 2022, Away's annual revenue was estimated to be $231.8 million, with $408,768 revenue per employee.

From a team of 150 in 2018 to 250+ in 2023, the employee count grew by approximately 66.6%.

Away – Marketing Strategies and Social Media Presence

Away initially started with an offline content strategy by publishing a book called 'The Places We Return To.' The company then sold the book along with gift cards to market the suitcases. With 1,200 copies being sold, the campaign turned out to be a success. Away focuses on a long-term content strategy centering around aspirational and engaging travel experiences rather than a single product.

Additionally, social media has been intrinsic to the company's rise. Away is now known as a so-called 'Instagram brand,' as it posts followers taken photos of the brand's luggage in exotic destinations in its Instagram feed.

Away – Partners

Away has partnered with Harry's Ayr, Serena Williams, Global Glimpse, and many other leading brands and creative artists.

Away – Awards and Achievements

Away has garnered many prestigious recognitions as it is named:

• "Breakthrough brand with Ingenious Marketing" by Adweek.
• "2018 Top 10 Most Innovative Companies" by Fast Company.
• "50 Most Genius Companies" by TIME.
• "Top Startups" by LinkedIn.
• "Next Billion Dollar Startup" by Forbes.

Away – Competitors

Away ranks 1st among its 83 competitors. Here listed are direct competitors of the company:

• RIMOWA
• Arlo Skye
• Tumi
• Coolife
• Carl Friedrik

Away – Future Plan

Away looks forward to brick-and-mortar expansion in 2023 with a few more store openings. The company announced opening a store in Georgetown, Washington, D.C., later this year.

FAQs

What is Away about?

Away is a modern lifestyle brand that intends to transform travel experiences. The company is a retailer of luggage and travel accessories.

Who are the founders of Away?

Steph Korey and Jen Rubio are the co-founders of Away.

Who are the main competitors of Away?

Here are some direct competitors of Away -

• RIMOWA
• Arlo Skye
• Tumi
• Coolife
• Carl Friedrik