New York-based luggage brand Away has partnered with New York’s chief economic development agency, Empire State Development, to grow its business through loans, grants, tax credits and other forms of financial assistance, according to Women’s Wear Daily.
Through the partnership, Away will expand by relocating its headquarters to 82 Mercer St. from its current location on Lafayette Street. The company, founded in 2016 with just four employees, now has more than 150 employees and will create 249 new jobs over a five-year period and will need to maintain that headcount for six to 10 years to receive the tax credits.
The company specializes in carry-on luggage that meets the quality of high-end brands, but at a lower cost to consumers. Founded by two former Warby Parker (Austin, Texas) executives, it has raised $31 million to date. Originally an e-commerce-only brand, the retailer now has four brick-and-mortar stores and plans to open six more this year.