Away Lays Off 22 Employees, Including CCO Laura Willensky | #away #dtc #travel #luggage #layoffs

Away Lays Off 22 Employees, Including CCO Laura Willensky

NEWS Source:- https://finance.yahoo.com/news/exclusive-trendy-luggage-brand-away-050000706.html

Important key takeaways:-

- Direct-to-consumer luggage brand Away underwent a discreet layoff of 22 employees in May, which constituted about 8% of its corporate workforce. The cuts included its Chief Commercial Officer Laura Willensky, who was hired to oversee revenue growth and profitability strategy.

- The broader direct-to-consumer (DTC) market has faced challenges, with venture capitalists becoming cautious due to scaling difficulties and competition from established retailers. Other DTC brands like Peloton and Casper have also undergone layoffs and business reorganizations, contributing to investor skepticism.

- Away, founded in 2016, initially faced troubles in 2019 due to allegations of a toxic work culture, followed by a decline in sales in 2020 amid travel restrictions.

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Company Profile:-

Founded: 2015
Industry: Consumer, Consumer Goods, E-Commerce, Lifestyle, Retail, Travel
Location: New York, New York, United States
Total Funding: $181M
Company Stage: Series D
Founders: Jen Rubio, Steph Korey Goodwin
Website: www.awaytravel.com

"Away Travel" is a well-known travel and lifestyle brand specializing in high-quality luggage and travel accessories. The company's products are designed to provide convenience and functionality for modern travelers, featuring smart design elements, durable materials, and innovative features. Away Travel's luggage options include suitcases with built-in chargers, efficient storage solutions, and stylish aesthetics. With a focus on enhancing the travel experience, Away Travel aims to provide travelers with the tools they need to explore the world comfortably and in style.

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