NEWS

eBags.com Announces Robust March Results with Sales Up 25%; Handbags Drive Growth with 61% Increase

Press Release
March 25, 2008

Despite a struggling economy, online retailer eBags.com announced the company ended fiscal March on a positive note with sales up 25% versus 2007. Specializing in bags across all fashion and travel categories, eBags' handbag business led the growth with an increase of 61% in the past year-over-year.

The world's largest online retailer of handbags, luggage, backpacks and travel accessories, eBags.com is one of a few retailers able to post strong sales increases in the current weak business environment. eBags' online store in Europe -- eBags UK -- also experienced rapid growth with March orders up almost 40%.

"Despite economic uncertainty, our female customers are still shopping for stylish handbags from all price points," said Nancy Behrendt, senior director of merchandising at eBags.com. "We've seen strengthening in handbags with 'fashion at a great price' bags, but there are also a number of luxury goods that run upwards of $1,400. This validates that today's shoppers find pleasure and stress relief in 'retail therapy.'"

With over 12,000 handbags on eBags.com, the company is aggressively adding to its assortment of trendy, moderately priced purses, as well as luxury handbags. Top brands that demonstrated impressive growth for March include Vera Bradley, kate spade, Cole Haan, GUESS by Marciano, Big Buddha, Ashley M, and Francesco Biasia. eBags' emerging designer boutique named On the Streets is another area exhibiting heightened interest among shoppers who are searching for the newest, trendsetting handbags from designers just coming onto the fashion scene.

"Retail has been on the receiving end of some really hard hits this year, so we are extremely pleased to report our successful month," said Jon Nordmark, CEO and co-founder of eBags.com. "In addition to eBags' positive sales, we are excited about introducing more shopping tools and videos throughout the site, expanding our 500-plus brands, and building out the eBags team."

About eBags.com

eBags is the world's leading online retailer of handbags, luggage, business cases, backpacks and accessories. With over 7 million bags sold, eBags offers over 1.3 million unbiased customer reviews, features 33,000 products from 500 brands including JanSport, Samsonite, Tumi, Vera Bradley, Michael Kors, Cole Haan, and Nike. eBags proudly supports the fight against breast cancer and has donated over $500,000 towards breast cancer research, education, screening and treatment. Please visit www.eBags.com.