Away, founded in 2015 by Steph Korey and Jen Rubio, is a direct-to-consumer luggage and travel accessories company that has taken the travel industry by storm. Known for its sleek, functional designs and innovative approach, Away has swiftly become a favorite among modern travelers. The company’s mission is to transform travel with thoughtfully designed products that enhance the travel experience.
Company Overview
Pro stress-test →Away was born out of a desire to solve common travel problems. The founders, both former Warby Parker executives, aimed to create high-quality luggage at a more accessible price point. From its inception, Away has focused on combining style, durability, and functionality in its product designs, establishing itself as a disruptor in the luggage industry.
Product Portfolio
Pro stress-test →Away’s product portfolio includes a range of travel essentials, from carry-ons to checked luggage, backpacks, and travel accessories. The company’s flagship product, The Carry-On, features a hard shell, built-in battery for charging devices, and 360-degree spinner wheels. Away also offers The Bigger Carry-On, The Medium, and The Large, catering to different travel needs. Additionally, they provide packing cubes, toiletry bags, and other accessories to complement their luggage.
Away Leadership and Management Team
Pro stress-test →Away’s leadership team is spearheaded by co-founders Steph Korey and Jen Rubio, who have brought their expertise from Warby Parker to steer the company towards success. Under their guidance, the company has grown rapidly, attracting top talent and expanding its reach globally.
Financial Overview of Away
Away has shown impressive financial growth since its launch. The company achieved unicorn status in 2019, with a valuation exceeding $1.4 billion. Away’s direct-to-consumer model, combined with strategic partnerships and retail expansions, has contributed significantly to its financial success. The company continues to see robust sales growth and increasing market share in the competitive travel goods market.
Marketing Strategies
Away employs a multifaceted marketing strategy that includes social media engagement, influencer partnerships, and experiential marketing. The brand leverages platforms like Instagram and Facebook to connect with its audience, showcasing the travel experiences of real users. Collaborations with influencers and celebrities have also helped boost the brand’s visibility and credibility.
Away Market Research and Competitors
The travel goods market is highly competitive, with established players like Samsonite, Rimowa, and Tumi. However, Away has carved out a niche for itself through its direct-to-consumer approach, innovative product features, and strong brand identity. The company continuously conducts market research to stay ahead of trends and consumer preferences, ensuring its products remain relevant and desirable.
Sales Strategies
Away’s sales strategy focuses on both online and offline channels. The company’s e-commerce platform is its primary sales channel, offering a seamless shopping experience with detailed product descriptions and customer reviews. Away has also opened brick-and-mortar stores in key locations, providing customers with the opportunity to experience the products in person. Pop-up stores and partnerships with retailers like Nordstrom further extend their reach.
Technologies Utilized
Away leverages cutting-edge technologies to enhance its product offerings and customer experience. From the built-in battery in The Carry-On to the use of durable polycarbonate materials, the company integrates technology and innovation into its designs. Additionally, Away uses data analytics to understand customer behavior and preferences, informing product development and marketing strategies.
HR Practices
Away places a strong emphasis on its human resources practices, fostering a culture of inclusivity, collaboration, and continuous learning. The company offers competitive benefits, professional development opportunities, and a supportive work environment. Away’s commitment to its employees has resulted in high levels of employee satisfaction and retention.
Corporate Responsibility
Away is dedicated to corporate social responsibility, engaging in initiatives that support environmental sustainability and social impact. The company has implemented programs to reduce its carbon footprint, such as using recycled materials in its products and packaging. Away also partners with organizations to support communities in need, reflecting its commitment to making a positive difference in the world.
Future Plans
Away’s future plans include expanding its product line, entering new markets, and enhancing its digital capabilities. The company is focused on innovation, continuously exploring new materials and technologies to improve its products. Away also aims to grow its retail footprint, both online and offline, to reach more customers globally.
Get the full Away Research Report by subscribing