For the third year in a row, Luggage Forward ranks as one of the 100 fastest-growing urban businesses in America.
BOSTON, MA – Luggage Forward, the worldwide leader in door-to-door luggage shipping services, today was ranked #77 on The Initiative for a Competitive Inner City (ICIC) and FORTUNE 2014 Inner City 100, a list of the fastest-growing inner city companies in the U.S.
This is the third year in a row that Luggage Forward has been named to the ICIC and Fortune’s Inner City 100 list, proving that luggage shipping is increasingly becoming a mainstream travel service. With the rise of air travel hassles, shipping luggage is the smart and convenient way to vacation.
Since Luggage Forward was founded nearly ten years ago, the company has focused on constant innovation, from customer service and booking technology to logistics and added destinations. This has allowed the company to provide better service overall which has enabled an increase in clients year-over-year. Luggage Forward now ships to more than 200 countries and territories worldwide and has added more domestic and international services that appeal to travelers with any budget.
“With thousands of Inner City 100 applicants and winners being represented from 53 cities, we are thrilled to be included on this list for the third year in a row,” said Zeke Adkins, Co-Founder of Luggage Forward. “We are proud of this accomplishment and to be leading a service that travelers and consumers find valuable. We thank our clients for enabling us to be included on this list, the city of Boston for having great talent, our employees for continuing amazing customer service, and we also appreciate the ICIC’s dedication to finding and supporting leaders in inner cities. We will continue to strive to make it onto the list next year as well.”
This year, the ten winners from the Transportation and Logistics category had an average revenue of 131 million dollars. Overall, the top 100 inner city businesses grew at a five year compound annual growth rate of 39% percent and employ a total of 8,276 employees. The winners are powerful economic forces in their communities and lead by example in their industries.
“It’s important to recognize businesses like Luggage Forward that are truly driving economic growth and job creation and America’s urban cores,” said Matt Camp, President, ICIC. “We believe that inner cities hold unique competitive advantages for business and the success of these firms underscores that market opportunity.”
The full list of winners can be viewed at Fortune.com
Inner City 100 List Criteria
To qualify for the Inner City 100 list, companies are required to be an independent, for-profit corporation, partnership or proprietorship that is not a public company, bank, or a holding company; headquartered in an economically distressed urban area; have at least 10 full-time employees; and a five-year operating sales history that includes at least $200,000 in revenues in the first year of consideration, an increase in year five sales over year four sales, and fifth-year sales of at least $1 million. For the 2014 list, ICIC looked at total revenue growth from 2009 to 2013 and the specific rankings were based on these growth rates. ICIC defines an inner city as an economically distressed urban area that has a poverty rate of 20% or higher, excluding currently enrolled undergraduate and graduate students; or a poverty rate of 1.5 times or more than that of the metropolitan statistical area (MSA) and a median household income of 50% or less than that of the MSA an or an unemployment rate of 1.5 times or more than that of the MSA.
About Luggage Forward
Since 2004, Luggage Forward has provided reliable and guaranteed delivery of luggage and sports equipment to travelers worldwide through a global network of logistics partners, innovative technology and unparalleled customer care. Luggage Forward is the smart and convenient alternative to carrying and checking bags. We are a Virtuoso® Preferred Supplier and an exclusive luggage delivery provider for world leading travel brands including Abercrombie & Kent, Inspirato, Butterfield & Robinson, Exclusive Resorts, Haversham & Baker, Perry Golf, Seabourn Cruise Line and Visa. Experience Luggage Forward at: www.luggageforward.com.
Initiative for a Competitive Inner City (ICIC)
ICIC is a national nonprofit founded in 1994 by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connections and the Goldman Sachs 10,000 Small Businesses programs. Learn more at www.icic.org or @icicorg.