Away, aims to create this comfortable travel with user-friendly and affordable luggage. With a piece of baggage for every trip and purpose, the franchise puts thought into giving its customers the best travel experience.
The article below highlights how Away became a leading brand, its products, and what distinguishes it from competitors.
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| Brand | Away |
| Established: | November 9, 2015 |
| Founded by: | Steph Korey and Jen Rubio |
| Country of Origin: | United States of America |
| Products: | Travel Bags, Suitcases, and Accessories |
What is Away?
Away is a luggage retail company located in the United States and established by Steph Korey and Jen Rubio on November 9, 2015. After a mishap with her baggage at an airport in Switzerland, Jen reached out to Steph while looking for a new suitcase. They researched quality luggage and introduced affordable, durable, and aesthetic bags.
Both ladies pushed the venture with online marketing strategies, funded the endeavor with seed investments from 2016 to 2019, and gained a following on social media. The company began production with Steph Korey as its Chief Executive Officer and Jen as its Chief Brand Officer in 2015.
The Away franchise started as an online store with products listed for customers to select from. Its first product was the Carry-On suitcase, released in 2016. The brand’s product line expanded with larger and limited edition models introduced into the market.
With its growing success, Away had an estimated value of $1.4 billion in 2019. The brand established several physical outlets, including stores in Austin, Boston, Chicago, LA: West Hollywood, London, Williamsburg, San Francisco, Seattle, and Toronto.
Despite its renowned acclaim, Away faced a toxic workspace scandal during Steph’s tenure as CEO, with employees being overworked and embarrassed over the working medium, Slack. By 2020, Steph resigned as CEO, and Jen replaced her as CEO to create a healthy work environment for the brand.
Who's the founder of Away?
Jen Rubio and Steph Korey co-founded the Away brand in 2015. Jen is an American entrepreneur who worked with several brands, including AllSaints and Warby Parker, where she worked as the Head of Social Media and met Steph Korey. Steph is also an American businesswoman who served as the Head of Supply Chain at Warby Parker. The two venturers launched Away to provide standard and sound travel baggage.
What is the origin story of Away?
Businesswomen Jen Rubio and Steph Korey created the Away luggage line in November 2015. The idea came from an experience with a faulty travel bag Jen had during a flight, after which she and Steph discussed how to create sturdy and inexpensive luggage for travelers like her. They designed the Carry-On durable hard-shell suitcase and began production, intending to deliver in late 2015 but hit the market by early 2016. Its success led to the creation of other luggage models and accessories.
How has Away grown?
Away began a startup in 2015 with $150,000 in capital raised from friends and family. It expanded to a full-fledged enterprise, with the company raising $2.5 million from investors. In 2016, the brand released its products and had over 60 employees. Away received over $28 million in funding in 2017 and increased its staff members by 2018 with a $50 million lump investment. As the establishment accrued an additional $100 million in funding in 2019, Away launched its physical stores across the United States, London, and Toronto.
What is Away's valuation?
Away had an estimated $1.4 billion value in 2019, with reports indicating a drop in revenue and overall net worth from the 2020 pandemic and flight restrictions. However, with the sales of outdoor accessories and smaller compact items in 2021, the company’s value may range between $540 million - $990 million.
How was Away funded?
Starting in 2015, Away received funding from the following sources:
- Family and friends’ support of $150 thousand
- Seed investments worth an estimated $181 million from over twenty companies, including:
- Accel Partners
- Global Founders Capital
- Battery Ventures
- Comcast Ventures
- Wellington Management
- Baillie Gifford
- Jaw Ventures
- Great Oaks Venture Capital
- Forerunner Ventures
Away’s seed funding and product sales from 2016 to 2019 led to a net value of $1.45 billion by 2019.
What lessons can entrepreneurs take from Away's brand story?
Away’s journey showcases the following success tips for business owners:
- Identify Market Gaps: Away found a niche for affordable, high-quality luggage.
- Prioritize Quality: They invested in product development to ensure durability and style.
- Use Storytelling: Away used the power of storytelling to connect with customers emotionally.
- Customer Experience is Key: They focused on customer satisfaction with a 100-day trial and lifetime warranty.
- Direct-to-Consumer Model: Selling directly to consumers allowed control over brand, pricing, and customer feedback.
- Leverage Social Media: They effectively used Instagram for brand promotion.
- Product Line Expansion: Starting with one product, they expanded based on customer needs and feedback.
FAQ
What types of luggage does Away make?
Away produces the following travel products and these pieces of luggage:
- Polycarbonate suitcases comprising the following
- Carry-On models
- Bigger Carry-On variants
- The Carry-On and Bigger Carry-On with Pocket
- The expandable bags, which include
- Carry-On Flex
- Bigger Carry-On Flex
- Medium Flex
- Large Flex
- The aluminum editions of the Carry-On and Bigger Carry-On items
- The Away For All Routes (F.A.R.) line
- Duffle 40L, 55L and 70L
- Backpack 26L
- Messenger 16L
- Convertible Backpack 45L
- Tote 45L
- Organizers set
- Small and Large Toiletry Bag
- Hanging Toiletry Bag
- Small and Large Tech case
- Insider packing cubes
- The shoe cube
- Travel bags
- The Everywhere bag and large variant
- Airline-approved pet carrier
What is the difference between Away's carry-on and bigger carry-on models?
Away's Carry-On model has a 39L capacity, while the Bigger Carry-On has a 47.9L volume with glossy polycarbonate shell versions, with a $50 price difference.
What materials are used in Away's suitcases and bags?
The Away franchise uses the durable yet lightweight material, polycarbonate for its suitcase casing. The company also employs an aluminum hard shell cover for its Carry-On and Bigger Carry-On Aluminum editions while using water-resistant nylon and high-strength polyester for bag items.
How durable are Away's luggage products?
Away’s brand items are exceptionally sturdy and scratch-resistant with polycarbonate shell covers and water-resistant nylon with leather trimming.
Is Away's polycarbonate luggage scratch-resistant?
Away’s Carry-On polycarbonate suitcases are notable for their durability and scratch resistance, with minimal blemishes from product testing.
What sets Away Luggage apart from other luggage brands?
There are several luggage products similar to Away Luggage, but the Away brand stands out in the following ways:
- Unique lifetime warranty
- A broader range of product colors
- Exceptional product quality with affordability and durability
What is the warranty on Away's products?
Away’s products have warranty coverages, differing from item to item, and these include
- A one-year warranty on bags and accessories
- A limited lifetime warranty on all suitcases
- A two-year coverage on electronic products
Does Away make travel accessories?
Away offers a variety of accessories, these include:
- Toiletry bags
- Cosmetic and organizational pouches
- Packing cubes
- Tech cases
- Compression socks
- Travel blankets and sleep masks
- Face masks
- Jewelry Box
- Removable charging batteries
Does Away have any special features on their luggage?
Away’s travel suitcases come with a 34-Watt lithium, removable charging battery for customers’ phones and gadgets. They also have four 360° wheels for easy maneuverability and an extendable handle for a convenient grip. The Carry-On and Bigger Carry-On have an edition with pocket pouches on their exterior side for extra items, and the Bigger Carry-On has a limited edition glossy-colored polycarbonate variant.
What is the cost of Away's suitcases and bags?
Away’s suitcases’ price ranges from $245 to $745, and the travel bags cost $45 to $245.
Takeaway
Away is a company that developed out of an identified need for quality travel products. Its origin story reveals how careful consideration for customers’ requirements create possibilities in product generation and income.
At Capitalism.com, we love luggage business founders! In fact, our founder invested in NeatPack, and you can watch the negotiation here.
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