DAVC - Samsara Luggage Reports Over 400% Revenue Increase in 2022 Q3 Earnings

PR Newswire

Samsara Luggage delivers strong results in 2022 due to a surge in sales after the launch of its Tag Smart collection of smart suitcases.

NEW YORK , Nov. 15, 2022 /PRNewswire/ -- Samsara Luggage, Inc. ("Samsara Luggage" or the "Company") (OTC: SAML), maker of innovative travel products, reported third quarter results that are in line with its long-term growth strategy. The Company reported a revenue increase of 407% compared to the same period last year. For the three-month period ended on September 30, 2022 , Samsara Luggage delivered strong results driven by an increase in sales of its Tag Smart collection of smart suitcases and travel accessories. The Company also increased its visibility in the marketplace through its strategic partnerships.

"Our consecutive improvement in sales and strong growth within the travel industry shows that our strategic initiatives are advancing Samsara Luggage to the next level," says Atara Dzikowski , Co-founder and CEO, Samsara Luggage. "Our primary focus is to continue to achieve new sales targets by expanding our product line to meet the evolving needs of travelers. Samsara's consistent progress is something we are thrilled to report to our shareholders."

In August of 2022, Samsara Luggage became the luggage carrier for luxury resort brand Tommy Bahama. The Tag Smart Grand Carry-on and Weekender bag was added to the Tommy Bahama e-commerce site and included in select brick and mortar stores, marking Samsara Luggage's debut in the retail space. In addition, Samsara Luggage's Tag Smart Carry-on was recently awarded "Special Mention" in TIME's Best Inventions of 2022 list.

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. (OTCQB: SAML) is a smart luggage brand with a deep belief in creating a world where travel isn't a hassle, but rather an effortless, smart experience. By combining smart features, including Internet of Things (IoT) technology, innovative design and high-quality materials, Samsara is transforming the travel industry with its products. The company launched its first smart carry-on in 2017 and has since expanded its product offering with travel accessories and the Tag Smart collection, equipped with precise tracking capabilities. Samsara was named "Best of" by notable press outlets including Forbes, Tom's Guide and Tech Republic. In the fall of 2022, the Tag Smart collection made its retail debut in select Tommy Bahama brick and mortar stores. To discover Samsara Luggage visit www.samsaraluggage.com or follow Samsara Luggage LinkedIn , Facebook , Twitter , or Instagram .

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.

SOURCE Samsara Luggage Inc.