Direct-to-consumer luggage brand Away is considering selling the company.
Away's market value is currently unclear, and it may still decide not to proceed with the sale, reports Bloomberg citing anonymous sources.
- Away is working with an advisor to solicit interest from buyers for a potential sale, according to sources cited by Bloomberg.
- The company was valued at $1.45B when it raised capital in 2019.
- Away's sales dropped by 90% at the onset of the COVID-19 pandemic, and it was forced to lay off 10% of its staff.
- The company's performance has since improved, and its sales between Thanksgiving and Cyber Monday were up 60% from 2019, reports Retail Dive.
- The luggage brand widened its offerings in April 2022 when it began selling travel accessories and outdoor travel equipment.
