Samsara Luggage Reports Over 700% Revenue Increase in 2022 Q2 Earnings

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Aug 04, 2022

PR Newswire

Strong earnings represent an increase in sales and continued company growth after the launch of its new Tag Smart collection of smart suitcases.

NEW YORK, Aug. 4, 2022 /PRNewswire/ -- Samsara Luggage ("Samsara Luggage" or the "Company") (OTC: SAML), maker of innovative travel products, has announced strong Q2 results for 2022. In the spring of 2022, Samsara Luggage introduced the Tag Smart suitcase that is combined with the Apple AirTag allowing travelers to track their Samsara luggage. Revenues for the three months ended June 30, 2022, compared to the three months ended March 31, 2022, represent an increase of over 700% due to the new Tag Smart luggage collection. The introduction of the new luggage line positively affected sales, as revenue for the same period represents an increase of over 500%. In addition, the surge in travel in 2022 along with the increase in reported cases of lost luggage triggered a large demand for suitcases with built-in tracking technology.

"We are very pleased with this quarter's record results," said Atara Dzikowski, Co-founder & CEO of Samsara Luggage. "Our recent launch of the Tag Smart collection allowed us to provide consumers with smart luggage equipped with precise tracking capabilities at a time when lost luggage wreaked havoc at airports around the world. We are thrilled to be able to share this groundbreaking news with our shareholders."

Additional sales were generated through PR initiatives, paid media, and new strategic partnerships. Samsara increased its brand visibility by unveiling its new digital marketing assets produced specifically for the launch of the Tag Smart collection. Samsara also ramped up its social media presence with the release of fresh digital photography and video advertisements. The Company partnered with YouTube content creator iJustine to showcase its new products to her millions of followers with an unboxing video on YouTube and Instagram. Samsara also partnered with Desperate ApeWives, a Web3 brand, to create its first NFT Brand Ambassador "Sam." The Tag Smart suitcase was featured in many notable media outlets for its fresh new design, technology and its relevance during the summer surge in lost luggage.

The Tag Smart suitcase is the first of its kind that combines with the Apple AirTag so travelers can track their suitcase using the Find My app on their iPhone. It is equipped with an interior compartment that secures the Apple AirTag device from within. The suitcase's aluminum frame and TSA-approved combination locks keep the AirTag protected from any outside tampering. The Tag Smart Device is included in the suitcase. Samsara plans to expand this collection to more sizes and technologies in the future.

About Samsara Luggage:

Samsara Luggage, Inc. ("Samsara," "Samsara Luggage" or the "Company") (OTCQB: SAML) 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 Internet of Things (IoT) technology, innovative design and quality materials, Samsara is dedicated to transforming the travel industry with its products.

Samsara launched Sarah & Sam, a fashion and lifestyle collection in the fourth quarter of the 2020 fiscal year. Sarah & Sam 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 due to the coronavirus pandemic.

Forward-Looking Statements:

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 April 11, 2022 (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.

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SOURCE Samsara Luggage Inc