Away (luggage)

JRSK, Inc., doing business as Away, is an American online and storefront retailer.[3] It is best known as a luggage designer, manufacturer and retailer, and led by founders, Steph Korey and Jen Rubio, in New York City.[4][5] Rubio and Korey started Away in 2015; they have raised $31 million in financing and sold more than 300,000 suitcases.[6] It is one of the highest funded female-backed startups.[7]

JRSK, Inc.
Away
Private
IndustryRetail
FoundedNovember 9, 2015 (2015-11-09)
Founders
Headquarters
New York City, New York
,
U.S.
Key people
ProductsBaggage, travel accessories
Websiteawaytravel.com
Footnotes / references
[1][2]

The company primarily sells products online, but also has brick and mortar locations in New York City, Los Angeles, San Francisco and Austin.[8] Its newest storefront opened up in London in August 2018, and is the company's UK flagship location.[9]

Away is a direct-to-consumer retailer, which allows the company to sell directly to consumers without third-party wholesalers or distributors. Its products are available throughout the U.S. and in Europe.[10] The company has also released a book The Places We Return To and publishes the digital magazine Here and the podcast Airplane Mode.[11]

History

Steph Korey and Jen Rubio met in 2011 as former colleagues on the early executive team at Warby Parker. They founded Away in 2015.[12][13] By November, the company had raised $2.5 million in seed funding from investors Accel Partners and Forerunner Ventures.[14] The company created a book of travel stories to sell with a gift card for the company's first product, "The Carry-On", which became available to ship in February 2016.[15][16] In September 2016, the company raised an additional $8.5 million in Series A funding for expansion.

In its first fiscal year (2016), the company sold US$12 million in luggage.The next year, Away had grown to 66 employees and projected more than $50 million in sales.[17] The company raised $20 million in Series B funding led by Global Founders Capital, Forerunner Ventures, Comcast Ventures, and Accel Partners in May 2017.[18][19] As of May 2018, Away had more than 150 employees and announced plans to expand jobs across the company, including a relocation of its headquarters in New York City.[20] In May 2019, the company secured $100 million of investment and reach total valuation of $1.4 billion. The funding round was led by Wellington Management, as well as Baillie Gifford, Lone Pine Capital and Global Founders Capital. The money will go for building brick-and-mortar stores and expanding travel gear.[21]

Away expanded into editorial content with the launch of a podcast called Airplane Mode in May 2017, and in July 2017, a print and digital travel magazine, Here, which includes city guides, travel essays, and photo journals.[22]

The company was named a "Breakthrough Brand with Ingenious Marketing" by Adweek. Fast Company recognized Away as one of the "2018 Top 10 Most Innovative Companies", and the company was a recipient of Surface Travel Awards.[23]

On December 5, 2019, a report from The Verge described a toxic workplace and "culture of intimidation and constant surveillance" at Away in which employee communications channels were restricted while executives used Slack as an internal megaphone to publicly humiliate employees.[24] Employees reported expectations to work long hours, on holidays, at night and late into the evening, and without paid time off.[25] In an apology, CEO Korey said that she was "appalled" to read her own messages and listed steps taken to improve the company's work culture in the last year. Korey initially resigned as CEO on December 9, and the company announced that she was to be succeeded by Stuart Haselden, former COO of Lululemon.[26]

Korey renounced her resignation on January 13, 2020, and stated that she and Haselden would be co-CEOs of Away. In an interview with The New York Times, Korey said that The Verge's reporting was "inaccurate" and that it was "not right" for her to resign. The Verge replied, "Steph Korey responding to our reporting by saying her behavior and comments were 'wrong, plain and simple' and then choosing to step down as C.E.O. speaks for itself."[2] Erin Grau, Away's human resources chief, resigned the same day in response to Korey returning.[27]

On July 2, 2020, however, Jen Rubio and Stuart Haseldon announced that Korey would be stepping down as co-CEO "within the year", following comments she made on social media attacking digital-only media companies. Away employees were concerned that her comments meant she had learned nothing from the events in December 2019.[28]

Products
Carry-On from the top

Away produces and markets a variety of travel accessories, using a direct-to-consumer business model.[29] The company's most well-known products are suitcases.[30][31][1][32]

The Carry-On was developed based on the focus group and survey responses from hundreds of travelers.[33] Vogue announced the creation of the luggage in November 2015, labeling it "The Perfect Carry-On."[1] By October 2016, it had launched three additional sizes: The Bigger Carry-On; The Medium; and The Large. The Bigger Carry-On was an honoree in the 2017 Fast Company Innovation By Design Awards.[34]

In 2017, Away collaborated with Rashida Jones,[35] Madewell,[36] Pop & Suki,[37][38][39] Gray Malin[40], NBA,[41] Star Wars[42] and the Hotel Amastan Paris to release limited edition colorways of their signature cases.[43]

Due to the brand's celebrity appeal, People dubbed the luggage "the little black dress of luggage" in August 2017.[44]

Board of directors

As of Jan 27, 2020, the following individuals sit on the board of Away:[27]

  • Steph Korey (co-CEO and executive chairwoman)
  • Stuart Haselden (co-CEO)
  • Jen Rubio (chief brand officer)
  • Ludwig Ensthaler (investor at Global Founders Capital)
gollark: Can you be more specific?
gollark: A social media site is most useful if everyone you know is on it, or at least a decent fraction. Without people being there it is very hard to switch over.
gollark: Maybe the anticompetitiveness is an inevitable result of the network effects driving these sites.
gollark: Problem is, there aren't any more "public square"-y spaces which anyone actually *uses*, because the giant social media sites have pulled most traffic into their walled garden things.
gollark: That makes so much sense and has no problems.

References
  1. Farra, Emily (2016-11-09). "New High-End Luggage Brand Away – Direct-to-Consumer Business, Travel". Vogue. Archived from the original on 2018-08-04. Retrieved 2018-08-03.
  2. Sorkin, Andrew Ross (2020-01-13). "Away C.E.O. Is Back, Just Weeks After Stepping Down". The New York Times. ISSN 0362-4331. Retrieved 2020-01-14.
  3. Garcia, Ahiza (October 24, 2017). "The founders of Away changed the luggage industry after a travel mishap". CNN Money. Archived from the original on July 5, 2018. Retrieved July 5, 2018.
  4. Zakrzewski, Cat (September 8, 2016). "Luggage Maker Away Raises $8.5M for International Expansion". The Wall Street Journal. Archived from the original on July 5, 2018. Retrieved July 5, 2018.
  5. Ransom, Diana (June 12, 2017). "This $48 Million Luggage Company Has Big Plans for Your Next Trip". Inc. Archived from the original on January 12, 2018. Retrieved January 12, 2018.
  6. "How Away Brings Its Brand to Life through Content Marketing". NewsCred Insights. April 17, 2018. Archived from the original on July 5, 2018. Retrieved July 5, 2018.
  7. Gharib, Susie (October 18, 2017). "This CEO is Leading a New Wave of Female Entrepreneurs". Fortune. Archived from the original on July 5, 2018. Retrieved July 5, 2018.
  8. Whalen, Emma (November 6, 2017). "New York-Based Travel Brand Launches First Texas Store at Domain Northside". Community Impact. Archived from the original on July 28, 2018. Retrieved July 28, 2018.
  9. Sykes, Andrew (August 14, 2018). "Away travels to Seven Dials for first UK store". Retail Times. Archived from the original on 1 September 2018. Retrieved 1 September 2018.
  10. Theodosi, Natalie (May 1, 2018). "Away Jets to Europe With New Collaboration Series". Women's Wear Daily. Archived from the original on July 29, 2018. Retrieved July 29, 2018.
  11. Doyle, Megan (September 13, 2017). "Luggage Brand Away Launches Pop-Up Hotel in Paris". Business of Fashion. Archived from the original on July 28, 2018. Retrieved July 28, 2018.
  12. Liffreing, Ilyse (August 14, 2017). "Inside Away's Instagram Strategy". Digiday. Archived from the original on July 5, 2018. Retrieved July 5, 2018.
  13. "JRSK Inc - Company Profile and News". Bloomberg Markets. Bloomberg L.P. Retrieved December 12, 2019.
  14. Avakian, Talia (November 9, 2015). "A Pair of Former Warby Parker Execs Are Attempting to Create the Perfect Carry-On Bag". Business Insider. Archived from the original on July 29, 2018. Retrieved July 29, 2018.
  15. Helm, Burt (2017-06-28). "How This Company Launched With Zero Products-- and Hit $12 Million in First-Year Sales". Inc. Archived from the original on 2018-07-11. Retrieved 2018-07-29.
  16. Hyland, Véronique (December 22, 2015). "The Duo Trying to Make Travel More Glamorous". The Cut. Archived from the original on July 29, 2018. Retrieved July 29, 2018.
  17. Noto, Anthony (May 19, 2017). "Karlie Kloss Backs Travel Brand Away in $20M Series B". New York Business Journal. Archived from the original on June 26, 2017. Retrieved July 29, 2018.
  18. Constine, Josh (May 19, 2017). "Away Nears 100k Stylish Suitcases Sold as it Raises $20M". TechCrunch. Archived from the original on July 29, 2018. Retrieved July 29, 2018.
  19. Young, Vicki M. (May 19, 2017). "Luggage Company Away Secures $20M". Women's Wear Daily. Archived from the original on July 30, 2018. Retrieved July 29, 2018.
  20. Brannigan, Maura (May 21, 2018). "Away Is Set To Hire More Than 200 New Employees In A Major Expansion". Fashionista.
  21. Clark, Kate (2019-05-14). "Trendy luggage brand Away packs on $100M, rolls past $1.4B valuation". TechCrunch. Retrieved 2019-05-15.
  22. "How Away Brings Its Brand to Life through Content Marketing". NewsCred Insights. April 17, 2018. Archived from the original on July 5, 2018. Retrieved July 5, 2018.
  23. "The World's Most Innovative Companies 2018 Honorees By Sector". Fast Company. 2018. Archived from the original on 2018-07-29. Retrieved 2018-07-29.
  24. Bellstrom, Kristen (2019-12-06). "Away Founders Use 'Inclusivity' to Respond to Toxic Culture Claims". Fortune. Archived from the original on 2019-12-06. Retrieved 2019-12-07.
  25. Schiffer, Zoe (2019-12-05). "Emotional baggage: inside the toxic work environment at Away". The Verge. Archived from the original on 2019-12-07. Retrieved 2019-12-07.
  26. Schiffer, Zoe (9 December 2019). "Away replaces CEO Steph Korey after Verge investigation". The Verge. Retrieved 2019-12-10.
  27. Del Rey, Jason (27 Jan 2020). "Top Away executives were blindsided by their CEO's decision to backtrack on stepping down". Recode. Retrieved 3 July 2020.
  28. Schiffer, Zoë (2 July 2020). "Away says co-CEO Steph Korey will step down this year after her attacks on the media". Retrieved 2 July 2020.
  29. "A New Class of Startup is Upending America's Consumer-Goods Industry". The Economist. November 16, 2017. Archived from the original on March 13, 2018. Retrieved July 28, 2018.
  30. Doherty, Patricia (2019-01-29). "6 Smart Suitcases That Won't Break Airlines' Battery Rules". Travel + Leisure. Archived from the original on 2018-08-04. Retrieved 2018-08-03.
  31. Bowman, Eric (2017-12-12). "The High-Tech Carry-On Luggage Safe for Flying". TravelPulse. Archived from the original on 2018-08-04. Retrieved 2018-08-03.
  32. So, Adrienne (2018-01-19). "This Smart Suitcase Would Be Great Even If It Were Dumb". WIRED. Archived from the original on 2018-02-02. Retrieved 2018-02-01.
  33. Elkins, Kathleen (2018-02-12). "Columbia MBA and multimillion-dollar start-up co-founder: Here's what business school doesn't teach you". CNBC. Archived from the original on 2018-08-04. Retrieved 2018-08-03.
  34. Budds, Diana (2017-09-11). "How Two Suitcase Designers Are Cramming More Into Your Carry-On". Fast Company. Archived from the original on 2018-03-22. Retrieved 2018-08-03.
  35. Stern, Claire (August 22, 2017). "Rashida Jones and Away Collaborate on the Sleekest Luggage Ever". InStyle. Archived from the original on July 29, 2018. Retrieved July 28, 2018.
  36. Stern, Claire (May 16, 2017). "Away and Madewell Just Launched the Smart Suitcase of Your Dreams". InStyle. Archived from the original on July 29, 2018. Retrieved July 28, 2018.
  37. Leanne, Bayley (March 9, 2017). "Pop & Suki launch the most Instagrammable travel luggage we've ever seen". Glamour. Archived from the original on July 13, 2017. Retrieved January 12, 2018.
  38. Sidell, Misty White (March 7, 2017). "Suki Waterhouse, Poppy Jamie Design Suitcases for Away: The collection of pink trolleys became available for purchase today". Women's Wear Daily. Archived from the original on September 2, 2017. Retrieved January 12, 2018.
  39. Webster, Emma Sarran (March 7, 2017). "Pop + Suki and Away Travel Collaborate on Pink Suitcase Collection". Teen Vogue. Archived from the original on January 12, 2018. Retrieved January 12, 2018.
  40. "Jen Rubio: Co-Founder of Away on Launching a Brand People Want to Talk About". Monica + Andy. 2018-05-12. Archived from the original on 2019-06-26. Retrieved 2019-12-07.
  41. James, Jesse (February 13, 2018). "Travel Like An All-Star! The Away x NBA Limited Edition Luggage Collection". Stupid Dope. Archived from the original on July 28, 2018. Retrieved July 28, 2018.
  42. Matthews, Lyndsey (May 4, 2018). "Away Just Launched Star Wars Luggage You Won't Be Embarrassed to Use". Esquire. Archived from the original on July 17, 2018. Retrieved July 28, 2018.
  43. Whittle, Andrea (October 10, 2017). "Away's Millennial Pink Luggage is Back". Conde Nast Traveler. Archived from the original on July 29, 2018. Retrieved July 28, 2018.
  44. Mackenzie, Schmidt (August 23, 2017). "This Is the Carry-On Every Celeb Is Toting: Shop Jessica Alba, Mandy Moore and Karlie Kloss's Go-To Bag". People. Archived from the original on September 14, 2017. Retrieved January 12, 2018.

See also
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