Strong earnings represent an increase in sales and continued company growth with the launch of a new vertical in the fashion sector
NEW YORK, May 17, 2021
NEW YORK, May 17, 2021 /PRNewswire/ -- Samsara Luggage (OTC: SAML), maker of tech-forward travel products, has announced strong Q1 results for 2021, including a 275% increase in revenue over the previous year. The results were fueled in part by revenue growth from the company's newest vertical, Sarah & Sam, a fashion and lifestyle collection that launched in the fall of 2020. Samsara Luggage was able to leverage its established digital assets and supply chain capabilities to offer additional consumer products amid the changing needs of the market due to the coronavirus pandemic.
"Samsara Luggage is off to an amazing start in 2021," says Atara Dzikowski, Co-founder & CEO, Samsara Luggage. "We are particularly pleased with our first quarter results because we achieved them despite the ongoing challenges of the global pandemic. We continue to strengthen our networks and expand our Samsara Direct strategy to position us for success for the remainder of 2021 and beyond."
Revenues generated by Sarah & Sam for the three months of Q1 (Jan 1 – March 31, 2021) reflects a gross profit margin of 67.3%. Samsara was able to leverage its digital assets including D2C websites, inhouse lists of identified users, mailing lists and its social media presence to achieve revenue growth in this new business segment. Additional sales channels were generated through PR initiatives, paid media, and strategic partnerships.
Samsara's Next Gen smart carry-on suitcase expected to launch as travel continues to resume activity in the coming months. The Next Gen was received with enthusiasm and anticipation by the press once unveiled at the 2020 Consumer Electronics Show (CES). Samsara Luggage's Next Gen carry-on is the first smart suitcase on the market with WiFi Hotspot technology that provides travelers with access to a secured global network. Other key features of the Next Gen line include GPS tracking, Bluetooth 5.1, wireless charging dock and USB-C charging port.
About Samsara Luggage:
Samsara Luggage, Inc. is a global smart luggage and smart travel brand with a deep belief in creating a world where travel isn't a hassle, but rather an effortless experience. By combining smart features, including IoT technology, innovative design and quality materials, Samsara is dedicated to transforming the travel industry with its products. Samsara Luggage unveiled its Next Generation smart carry-on at the 2020 Consumer Electronics Show (CES). The Next Generation is the first to market a Wi-Fi Hotspot technology for travelers to access a secured network globally.
In response to the coronavirus pandemic Samsara Luggage launched the Smart Weekender Nano Bag, an overnight travel bag treated with a layer of bacteriostatic nanotechnology protection that prevents colonies of bacteria from developing on the fabric. Samsara Luggage also launched Essentials by Samsara, safety kit providing commuters with a new layer of safety with protective items like facemasks, hand sanitizer, disposable gloves and alcohol wipes. These kits are sold individually and gifted to customers with purchase of the Carry-on Aluminum suitcase or Smart Weekender bag.
Samsara launched Sarah+%26amp%3B+Sam, a fashion and lifestyle collection in the fourth quarter of the 2020 fiscal year. Sarah & Sam is a part of Samsara Direct, a new business model initiated in response to the travel restrictions enforced due to the coronavirus pandemic. Samsara Direct leverages the company's established digital assets and manufacturing and fulfillment supply chain capabilities to offer additional consumer products that respond to the changing needs of the market.
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "expects", "anticipates", "intends", "estimates", "plans", "potential", "possible", "probable", "believes", "seeks", "may", "will", "should", "could" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the Company's international manufacturing and supply chain, market acceptance of the Company's smart luggage, successfully implementing the Company's growth strategy, dependence on key Company personnel, changes in economic conditions, competition and other risks including, but not limited to, those described from in the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 30, 2021 (the "SEC"), and other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
SOURCE Samsara Luggage Inc