“We thought that we were on a rocket ship”: How July co-founders bounced back after 95% loss in revenue

You’ve likely heard of the up-and-coming Aussie luggage brand July by now, or at least seen the often-personalised suitcases in the hands of the nation’s top athletes. 

For founders, Richard Li and Athan Didaskalou, the aim is to see at least 10 July products every time they’re in an airport. 

If they don’t, then they “haven’t sold enough”, Didaskalou jokes when I sat down to chat with them both in their Collingwood store-office hybrid. 

But it’s the opposite that’s true. 

July sells ‘tens of thousands’ a products a month, which has seen the startup grow 1000% in sales over the last year; employs more than 20 staff in Melbourne, along with contractors overseas to help with its growing international interest; has raised more than $10 million in funding; and is about to open its third retail store in Australia. 

While the co-founders can’t share current revenue figures, they do say that in 2019, July was on target to record $5 million in revenue, before that pesky thing called the COVID-19 pandemic came along. 

Yet through resilience, strong leadership and the ability to adapt, the July team turned it all around.

The founder relationship

Li and Didaskalou had known each other for years through the e-commerce and...