For the sake of its own success, eBags certainly hopes it's "in the bag." The company is an online retailer of backpacks, briefcases and laptop bags, designer handbags, luggage, sports and duffel bags, snow packs, and diaper bags. It also sells jewelry cases, umbrellas, wallets, and travel gear (toiletry kits, camera bags). The company's lineup of about 36,000 products features more than 520 brand names, including JanSport, kate spade, Kenneth Cole, Nike, Samsonite, and The North Face. In addition to selling name-brand merchandise, eBags markets customized logo bags and other items for corporate and promotional gifts. EBags was founded in 1998.
The online luggage retailer saw calendar year 2011 sales increase by 26% vs. 2010, driven by a 32% jump in holiday sales. The strong performance came on the heels of record sales and profits in fiscal 2010 (ends June). Sales increased by 13% and earnings climbed 142% in fiscal 2010 vs. the year earlier period. EBags is benefitting from increased acceptance of online and mobile shopping and a business model that allows it to offer a vast selection of merchandise (including 1,765 style of backpacks) relative to brick-and-mortar retailers.
EBays is led by CEO Vince Jones, who joined the company in 2009 after helping to launch Walmart.com. – less