Steph Korey has accomplished an outstanding feat as an entrepreneur at a young age. In 2015, while still studying for his business degree at Columbia University, she launched Away. Roughly six years later, it’s one of the most prominent luggage brands globally. During a rent interview, Korey discussed making Away a successful luggage brand.
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A solid business background
This accomplished young entrepreneur mentioned that her business experience had played a role in her success. She revealed that she had acquired some notable experience in the startup world before launching her company. Steph Korey was previously a supply manager at the affordable eyewear startup brand Warby Parker. At this position, she oversaw the acquisition of raw materials from suppliers to the manufacturer and getting the final products to the consumer. Working at Warby parker gave her some experience on the ins and outs of running a successful startup. She would apply this knowledge in making Away successful after its launch.
Conducting extensive market research
According to Steph Korey, one of the reasons that many upcoming business leaders fail is that they don’t conduct extensive market research before launching their startups. As soon as they have a brilliant business idea, they go ahead and start the enterprise right away. She stated that once she had the idea to start Away, she took time to conduct sufficient research before launching the business. This involved doing numerous interviews with frequent travelers to find out the problems they encountered with their luggage and what they would wish their next luggage to be like. This gave her insights into designing the ideal luggage for frequent travelers.
The right pricing
The Away founder mentioned that previously, for consumers to get a high-quality suitcase, they had to pay an excessive amount of money. This made frequent travelers opt for cheaper suitcases that were of low quality. Steph Korey said that Away has brought a new norm by introducing high-quality, affordable suitcases.
Original source to learn more: https://www.crunchbase.com/person/steph-korey