Away (company)

file:20220305 Away (1121 North State Street - Chicago) - Exterior.jpg store at 1121 North State Street in the Gold Coast]]

Steph Korey and Jen Rubio met in 2011 as former colleagues on the early executive team at Warby Parker. They founded Away in 2015.{{Cite web|url=https://digiday.com/marketing/inside-aways-instagram-strategy/|title=Inside Away's Instagram Strategy|last=Liffreing|first=Ilyse|date=August 14, 2017|website=Digiday|url-status=live|archive-url=https://web.archive.org/web/20180705063115/https://digiday.com/marketing/inside-aways-instagram-strategy/|archive-date=July 5, 2018|access-date=July 5, 2018}} It improved upon traditional suitcase designs by adding features such as built-in batteries in their luggage for charging mobile devices.{{Cite web|url=https://www.bloomberg.com/profile/company/1437596D:US|title=JRSK Inc - Company Profile and News|website=Bloomberg Markets|publisher=Bloomberg L.P.|url-status=live|access-date=December 12, 2019|archive-url=https://web.archive.org/web/20191212053002/https://www.bloomberg.com/profile/company/1437596D:US |archive-date=2019-12-12 }}{{Cite web |last=Feldman |first=Amy |title=Next Billion-Dollar Startups: How Two Young Entrepreneurs Used Relentless Online Marketing To Build Away Into A $700M Luggage Brand |url=https://www.forbes.com/sites/amyfeldman/2018/11/20/next-billion-dollar-startups-how-two-young-entrepreneurs-used-relentless-online-marketing-to-build-away-into-a-700m-luggage-brand/ |access-date=2023-04-13 |website=Forbes |language=en}}{{Cite web |last=Lamare |first=Amy |date=2020-09-04 |title=A brief history of Away: From suitcases to scandals |url=https://www.businessofbusiness.com/articles/history-of-away-luggage-data/ |access-date=2023-07-24 |website=www.businessofbusiness.com |language=en}} By November, the company had raised $2.5 million in seed funding from investors Accel Partners and Forerunner Ventures.{{Cite web|url=http://www.businessinsider.com/former-warby-parker-execs-launch-luggage-brand-2015-11|title=A Pair of Former Warby Parker Execs Are Attempting to Create the Perfect Carry-On Bag|last=Avakian|first=Talia|date=November 9, 2015|website=Business Insider|url-status=live|archive-url=https://web.archive.org/web/20180729230632/https://www.businessinsider.com/former-warby-parker-execs-launch-luggage-brand-2015-11|archive-date=July 29, 2018|access-date=July 29, 2018}} The company's first product, a carry-on became available to ship in February 2016.{{Cite web|url=https://www.inc.com/magazine/201707/burt-helm/how-i-did-it-steph-korey-jen-rubio-away.html|title=How This Company Launched With Zero Products-- and Hit $12 Million in First-Year Sales|last=Helm|first=Burt|date=2017-06-28|website=Inc.|url-status=live|archive-url=https://web.archive.org/web/20180711183739/https://www.inc.com/magazine/201707/burt-helm/how-i-did-it-steph-korey-jen-rubio-away.html|archive-date=2018-07-11|access-date=2018-07-29}}{{Cite web|url=https://www.thecut.com/2015/12/away-jen-rubio-steph-korey-interview.html|title=The Duo Trying to Make Travel More Glamorous|last=Hyland|first=Véronique|date=December 22, 2015|website=The Cut|url-status=live|archive-url=https://web.archive.org/web/20180729174930/https://www.thecut.com/2015/12/away-jen-rubio-steph-korey-interview.html|archive-date=July 29, 2018|access-date=July 29, 2018}} In September 2016, the company raised an additional $8.5 million in Series A funding for expansion.{{Cite web|title=Trendy luggage brand Away packs on $100M, rolls past $1.4B valuation|url=https://techcrunch.com/2019/05/14/away-packs-on-100m/|access-date=2021-02-01|website=TechCrunch|language=en-US}}

In November 2016 Steph Korey was listed on Forbes 30 Under 30,{{Cite web |title=Forbes 30 Under 30 2022: Finance |url=https://www.forbes.com/30-under-30/2022/finance/ |access-date=2024-01-30 |website=Forbes |language=en}} a pick the publication regretted seven years later, placing Korey on its Hall of Shame, featuring ten picks it wished it could take back.{{Cite web |last=Team |first=Forbes Under 30 |title=Hall Of Shame: The 10 Most Dubious People Ever To Make Our 30 Under 30 List |url=https://www.forbes.com/sites/forbesunder30team/2023/11/28/hall-of-shame-the-10-most-dubious-people-ever-to-make-our-30-under-30-list/ |access-date=2024-01-30 |website=Forbes |language=en}}{{Cite web |last=Porter |first=Jon |date=2023-11-29 |title=Forbes publishes 30 Under 30 “Hall of Shame.” |url=https://www.theverge.com/2023/11/29/23980764/forbes-publishes-30-under-30-hall-of-shame |access-date=2024-01-30 |website=The Verge |language=en}}

The next year, the firm had grown to 66 employees and projected more than $50 million in sales.{{Cite web|url=https://www.bizjournals.com/newyork/news/2017/05/19/karlie-kloss-backs-travel-brand-away-in-20m-series.html|title=Karlie Kloss Backs Travel Brand Away in $20M Series B|last=Noto|first=Anthony|date=May 19, 2017|website=New York Business Journal|url-status=live|archive-url=https://web.archive.org/web/20170626080504/http://www.bizjournals.com/newyork/news/2017/05/19/karlie-kloss-backs-travel-brand-away-in-20m-series.html|archive-date=June 26, 2017|access-date=July 29, 2018}} It raised $20 million in Series B funding led by Global Founders Capital, Forerunner Ventures, Comcast Ventures, and Accel Partners in May 2017.{{Cite web|url=https://techcrunch.com/2017/05/19/away-luggage/|title=Away Nears 100k Stylish Suitcases Sold as it Raises $20M|last=Constine|first=Josh|date=May 19, 2017|website=TechCrunch|url-status=live|archive-url=https://web.archive.org/web/20180729200535/https://techcrunch.com/2017/05/19/away-luggage/|archive-date=July 29, 2018|access-date=July 29, 2018}}{{Cite web|url=http://wwd.com/business-news/financial/luggage-company-away-secured-20m-series-b-round-10890546/|title=Luggage Company Away Secures $20M|last=Young|first=Vicki M.|date=May 19, 2017|website=Women's Wear Daily|url-status=live|archive-url=https://web.archive.org/web/20180730020707/https://wwd.com/business-news/financial/luggage-company-away-secured-20m-series-b-round-10890546/|archive-date=July 30, 2018|access-date=July 29, 2018}} As of May 2018, it had more than 150 employees and announced plans to expand jobs across the company, including a relocation of its headquarters in New York City.{{Cite web|url=https://fashionista.com/2018/05/away-luggage-expansion-employees|title=Away Is Set To Hire More Than 200 New Employees In A Major Expansion|last=Brannigan|first=Maura|date=May 21, 2018|website=Fashionista}} In May 2019, it secured $100 million of investment and reached a 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 is intended for building brick-and-mortar stores and expanding travel gear.{{Cite web|url=https://techcrunch.com/2019/05/14/away-packs-on-100m/|title=Trendy luggage brand Away packs on $100M, rolls past $1.4B valuation|last=Clark|first=Kate|date=2019-05-14|website=TechCrunch|language=en-US|access-date=2019-05-15}}

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.

The company was named a "Breakthrough Brand with Ingenious Marketing" by Adweek.{{Cite web|title=5 Breakthrough Brands With Ingenious Marketing That Hit a New Level in 2017|url=https://www.adweek.com/brand-marketing/5-breakthrough-brands-with-ingenious-marketing-that-hit-a-new-level-in-2017/|access-date=2021-02-01|language=en-US}} Fast Company recognized Away as one of the "2018 Top 10 Most Innovative Companies", and the company was a recipient of Surface Travel Awards.{{Cite web|url=https://www.fastcompany.com/most-innovative-companies/2018/sectors/travel|title=The World's Most Innovative Companies 2018 Honorees By Sector|year=2018|website=Fast Company|url-status=live|archive-url=https://web.archive.org/web/20180729171231/https://www.fastcompany.com/most-innovative-companies/2018/sectors/travel|archive-date=2018-07-29|access-date=2018-07-29}}

On December 5, 2019, a report by The Verge reporter Zoë Schiffer 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.{{Cite web|url=https://fortune.com/2019/12/06/away-culture-slack-inclusivity/|title=Away Founders Use 'Inclusivity' to Respond to Toxic Culture Claims|last=Bellstrom|first=Kristen|date=2019-12-06|website=Fortune|language=en|url-status=live|archive-url=https://web.archive.org/web/20191206143612/https://fortune.com/2019/12/06/away-culture-slack-inclusivity/|archive-date=2019-12-06|access-date=2019-12-07}} Employees reported expectations to work long hours, on holidays, at night and late into the evening, and without paid time off.{{Cite news|url=https://www.theverge.com/2019/12/5/20995453/away-luggage-ceo-steph-korey-toxic-work-environment-travel-inclusion|title=Emotional baggage: inside the toxic work environment at Away|last=Schiffer|first=Zoe|date=2019-12-05|work=The Verge|access-date=2019-12-07|url-status=live|archive-url=https://web.archive.org/web/20191207194531/https://www.theverge.com/2019/12/5/20995453/away-luggage-ceo-steph-korey-toxic-work-environment-travel-inclusion|archive-date=2019-12-07|language=en}} 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.{{Cite news|last=Sorkin|first=Andrew Ross|date=2020-01-13|title=Away C.E.O. Is Back, Just Weeks After Stepping Down (Published 2020)|language=en-US|work=The New York Times|url=https://www.nytimes.com/2020/01/13/business/steph-korey-away.html|access-date=2021-02-01|issn=0362-4331}} 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.{{Cite web|url=https://www.theverge.com/2019/12/9/21003787/away-luggage-steph-korey-ceo-new-lululemon-stuart-haselden-replacement-investigation|title=Away replaces CEO Steph Korey after Verge investigation|last=Schiffer|first=Zoe|date=9 December 2019|website=The Verge|url-status=live|access-date=2019-12-10|archive-url=https://web.archive.org/web/20191209225049/https://www.theverge.com/2019/12/9/21003787/away-luggage-steph-korey-ceo-new-lululemon-stuart-haselden-replacement-investigation |archive-date=2019-12-09 }}

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."{{Cite news|url-access=subscription|url=https://www.nytimes.com/2020/01/13/business/steph-korey-away.html|title=Away C.E.O. Is Back, Just Weeks After Stepping Down|last=Sorkin|first=Andrew Ross|date=2020-01-13|work=The New York Times|access-date=2020-01-14|language=en-US|issn=0362-4331}} Erin Grau, Away's human resources chief, resigned the same day in response to Korey returning.{{cite web | url = https://www.vox.com/recode/2020/1/27/21083541/away-luggage-ceo-steph-korey-erin-grau-resignation-ipo | title = Top Away executives were blindsided by their CEO's decision to backtrack on stepping down | first = Jason | last = Del Rey | date = 27 Jan 2020 | access-date = 3 July 2020 | publisher = Recode}}

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.{{cite web | url = https://www.theverge.com/2020/7/2/21312005/away-employees-steph-korey-instagram | first = Zoë | last = Schiffer | date = 2 July 2020 | access-date = 2 July 2020 | title = Away says co-CEO Steph Korey will step down this year after her attacks on the media}}

File:20180520 Away carryon (3).jpg from the top]]

Away produces and markets travel accessories using a direct-to-consumer business model.{{Cite news|url=https://www.economist.com/news/business/21731429-direct-consumer-revolution-bedroom-and-bathroom-new-class-startup-upending|title=A New Class of Startup is Upending America's Consumer-Goods Industry|date=November 16, 2017|newspaper=The Economist|url-status=live|archive-url=https://web.archive.org/web/20180313201037/https://www.economist.com/news/business/21731429-direct-consumer-revolution-bedroom-and-bathroom-new-class-startup-upending|archive-date=March 13, 2018|access-date=July 28, 2018}} The company's best-known products are suitcases.{{Cite web|url=https://www.travelandleisure.com/style/travel-bags/smart-luggage-with-removable-battery|title=6 Smart Suitcases That Won't Break Airlines' Battery Rules|last=Doherty|first=Patricia|date=2019-01-29|website=Travel + Leisure|language=en|url-status=live|archive-url=https://web.archive.org/web/20180804140947/https://www.travelandleisure.com/style/travel-bags/smart-luggage-with-removable-battery|archive-date=2018-08-04|access-date=2018-08-03}}{{Cite web|url=https://www.travelpulse.com/news/travel-technology/the-high-tech-carry-on-luggage-safe-for-flying.html|title=The High-Tech Carry-On Luggage Safe for Flying|last=Bowman|first=Eric|date=2017-12-12|website=TravelPulse|url-status=live|archive-url=https://web.archive.org/web/20180804045946/https://www.travelpulse.com/news/travel-technology/the-high-tech-carry-on-luggage-safe-for-flying.html|archive-date=2018-08-04|access-date=2018-08-03}}{{Cite web|url=https://www.vogue.com/article/away-luggage-direct-to-consumer-business-launch|title=New High-End Luggage Brand Away – Direct-to-Consumer Business, Travel|last=Farra|first=Emily|date=2016-11-09|website=Vogue|url-status=live|archive-url=https://web.archive.org/web/20180804050118/https://www.vogue.com/article/away-luggage-direct-to-consumer-business-launch|archive-date=2018-08-04|access-date=2018-08-03}}{{Cite magazine|url=https://www.wired.com/review/review-away-carry-on/|title=This Smart Suitcase Would Be Great Even If It Were Dumb|last=So|first=Adrienne|date=2018-01-19|magazine=WIRED|url-status=live|archive-url=https://web.archive.org/web/20180202014112/https://www.wired.com/review/review-away-carry-on/|archive-date=2018-02-02|access-date=2018-02-01}} Away's product line also includes travel bags,{{Cite web|title=Away Just Launched Its First Duffel Bag|url=https://www.travelandleisure.com/style/travel-bags/away-luggage-lightweight-duffel-bag|access-date=2020-08-27|website=Travel + Leisure|language=EN}}{{Cite web|title=Away Luggage Reviews From Travel Editors: See the Suitcases and Bags Worth Buying|url=https://www.travelandleisure.com/style/travel-bags/away-luggage-reviews|access-date=2020-08-27|website=Travel + Leisure|language=EN}} travel organizers{{Cite web|title=This Celeb-Approved Luggage Brand Just Made Packing for Vacation Way Easier|url=https://people.com/travel/away-luggage-new-organzing-accessories/|access-date=2020-08-27|website=PEOPLE.com|language=EN}} and travel accessories.{{Cite web|title=Away Just Brought Back Its Mini Suitcase Gift Sets for the Holidays|url=https://www.travelandleisure.com/style/travel-accessories/away-mini-suitcase-gift-sets|access-date=2020-08-27|website=Travel + Leisure|language=EN}}

The Carry-On was developed based on the focus group feedback.{{Cite web|url=https://www.cnbc.com/2018/02/12/away-co-founder-steph-korey-what-business-school-cant-teach-you.html|title=Columbia MBA and multimillion-dollar start-up co-founder: Here's what business school doesn't teach you|last=Elkins|first=Kathleen|date=2018-02-12|website=CNBC|language=en|url-status=live|archive-url=https://web.archive.org/web/20180804050140/https://www.cnbc.com/2018/02/12/away-co-founder-steph-korey-what-business-school-cant-teach-you.html|archive-date=2018-08-04|access-date=2018-08-03}} Vogue announced the creation of the luggage in November 2015, labeling it "The Perfect Carry-On." By October 2016, Away 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.{{Cite web|url=https://www.fastcodesign.com/90138093/how-two-suitcase-designers-are-cramming-more-into-your-carry-on|title=How Two Suitcase Designers Are Cramming More Into Your Carry-On|last=Budds|first=Diana|date=2017-09-11|website=Fast Company|url-status=live|archive-url=https://web.archive.org/web/20180322053818/https://www.fastcodesign.com/90138093/how-two-suitcase-designers-are-cramming-more-into-your-carry-on|archive-date=2018-03-22|access-date=2018-08-03}}

Due to the brand's celebrity appeal, People dubbed the luggage "the little black dress of luggage" in August 2017.{{Cite web|url=http://people.com/home/jessica-alba-mandy-moore-favorite-carry-on-suitcase-away/|title=This Is the Carry-On Every Celeb Is Toting: Shop Jessica Alba, Mandy Moore and Karlie Kloss's Go-To Bag|last=Mackenzie|first=Schmidt|date=August 23, 2017|website=People|url-status=live|archive-url=https://web.archive.org/web/20170914130358/http://people.com/home/jessica-alba-mandy-moore-favorite-carry-on-suitcase-away/|archive-date=September 14, 2017|access-date=January 12, 2018}}

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Category:Companies based in New York City

Category:Luggage brands

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