In the world of direct-to-consumer luggage startups, there are winners and losers. Last week, I wrote about how Raden, a three-year-old smart-luggage startup, shuttered, only weeks after a similar brand, Bluesmart, ceased operations.
But against this backdrop, two-year-old Away is thriving. The brand just announced that it is adding 249 jobs over the next five years in a major expansion. It will relocate its headquarters to a cavernous 56,000-square-foot space on 82 Mercer Street in New York’s Soho neighborhood. To support this expansion, New York State will provide away with $4 million in performance-based tax credits. The new jobs will be across many functions, including customer service, product development, and editorial.
Jennifer Rubio and Stephanie Korey [Photo: courtesy of Away]Away has has a remarkable growth trajectory. It was founded by Stephanie Korey and Jennifer Rubio, who met as colleagues at Casper. The company has raised $31 million in capital by VCs that include Global Founder’s Fund, Forerunner Ventures, and Comcast Ventures.
The brand launched with a high-quality hardshell suitcase, in both carry-on and checked sizes. But it’s now expanded into a range of other products, like toiletry bags and smaller bags that count as “personal items” on flights. In an interesting twist, the brand has also launched an editorial division that produces a print magazine and a podcast.
KUALA LUMPUR (May 22): The FBM KLCI shed 0.20% at mid-morning today as stocks in the oil and gas sector retreated.
At 10am, the FBM KLCI fell 3.70 points to 1,849.88.
Losers led gainers by 300 to 261, while 257 counters traded unchanged. Volume was 505.94 million shares valued at RM357.03 million.
The top losers included Hengyuan Refining Co Bhd, Petronas Dagangan Bhd, Petron Malaysia Refining & Marketing Bhd, Latitude Tree Holdings Bhd, Allianz Malaysia Bhd, Kuala Lumpur Kepong Bhd, Deleum Bhd, Tenaga Nasional Bhd and MISC Bhd.
REUTERS: U.S. consumer bible Consumer Reports stopped short of recommending Tesla Inc's Model 3 electric car on Monday, criticizing it for its braking and taking the shine off a day of gains for shares in billionaire Elon Musk's venture.
Musk had driven shares in the electric carmaker higher with ...