Samsara Luggage Inc (SAML)

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$SAML - Samsara Luggage Reports 239% Revenue Increase in 2022 Annual Report
PR NEWSWIRE

8:00 AM ET 04/04/2023

Samsara Luggage (SAML) reported revenues up 239% year-over-year, and Gross Profit for 2022 up 571% following implementation of strategic initiatives designed to strengthen the company's positioning in the market and in conjunction with a surge in demand for travel products.

NEW YORK, April 4, 2023 /PRNewswire/ -- Samsara Luggage ("Samsara Luggage (SAML)" or the "Company") (OTC: SAML), maker of innovative travel products, today released its 2022 Annual report, highlighting the Company's robust growth and financial results for the fiscal year ended December 31, 2022.

Samsara Luggage (PRNewsfoto/Samsara Luggage Inc.)

Revenues totaled $1,171,000, up 239% for the fiscal year ended December 31, 2022, compared to the fiscal year ended December 31, 2021. Gross Profit for the fiscal year ended 2022 increased 571% compared to the same period in 2021.

The increase in revenue was achieved despite unpredictable market conditions in a post-pandemic landscape. The Company's growth is mainly attributed to an increase in demand for the Company's new travel products and strategic partnerships that increased sales and brand visibility.

Samsara Luggage (SAML) focused its efforts on launching its new Tag Smart product line in Spring 2022. The new carry-on suitcase combined with the Apple AirTag provided travelers with reliable tracking with the iPhone's Find My app. The execution of a new marketing campaign along with the Tag Smart receiving glowing reviews from notable press outlets yielded an increase in sales on the heels of a strong peak travel season.

"Our success this past year represents our agility in monitoring developments in the market and understanding the world of travel," said Atara Dzikowski, Co-founder & CEO, Samsara Luggage (SAML). "Through our implementation of key strategic initiatives and strong partnerships we were well prepared to handle the challenges in the post-pandemic marketplace. We are thrilled with our annual report results and will continue to service our current customers and execute new strategies to expand our community."

Samsara Luggage (SAML) increased its business activity by entering into several strategic partnerships. Tommy Bahama became the first retailer to feature select products from Samsara Luggage's (SAML) newly launched Tag Smart collection. The Company also launched the Un-carrier On suitcase, a co-branded magenta suitcase equipped with Apple AirTag tracking device, along with USB-C and wireless charging capabilities.