A pair of Melbourne entrepreneurs, Athan Didaskalou, 37, and Richard Li, 34, have built a multimillion-dollar luggage empire in just four years. The friends, who both ran their own businesses and traveled frequently for work, were frustrated with the lack of high-quality, affordable suitcases in the market. This sparked the idea for their business, July, which aimed to bridge the gap between cheap, low-quality suitcases and high-end luxury luggage.
They started July in 2019 from a co-working space in Collingwood, investing everything from savings to time to get the business off the ground. Their initial product was a carry-on suitcase. Within the first year, July generated $5 million in revenue.
However, the business suffered a significant setback in 2020 when the COVID-19 pandemic led to a global travel ban. July experienced a huge 95% loss of revenue. The pair used the lockdown period to pivot their business and develop new products to add to their range.
As travel restrictions eased, July entered the US market in mid-2021, where they saw unexpected success. They sold ten times more suitcases than predicted and experienced rapid growth in the US market. The brand now stocks a wide range of travel essentials, including checked-in and carry-on suitcases, overnight bags, backpacks, toiletry bags, packing cubes, and everyday totes.
Their Carry-On Pro suitcase, which features a built-in power bank for charging phones and laptops on the go, has become popular among travelers. The brand has also opened five retail stores in Melbourne and Sydney.
Despite the challenges faced during the pandemic, July has experienced a 640% growth in its 2021/2022 financial year. It is now the biggest Australian-owned luggage brand. The brand has expanded to Australia, the US, New Zealand, and the UK. Celebrities like Harry Styles and Chrissy Teigen have been spotted with July suitcases. The brand is predicted to make an annual revenue of $140 million as demand for travel continues to grow.
Didaskalou’s advice for aspiring entrepreneurs is to find a partner or co-founder who complements their skills and can provide support throughout the journey.