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Australian brand Quay inks massive deal with Love Island UK and US

Australian brand Quay inks massive deal with Love Island UK and US

An Australian brand is celebrating record sales after landing a huge partnership with one of the UK’s most popular reality shows.

More than five million Brits tuned in to watch Love Island this year – the show’s biggest audience since its launch in 2015.

It’s since become a global phenomenon, with audiences around the world including Aussies and Americans, becoming obsessed with the bikini-clad dating show.

It’s because of this, sunglasses brand Quay Australia, decided to collaborate with the culturally iconic series – designing a range worn by the “islanders” during the eight-week show.

And after seeing how girls and guys in the villa rocked the sunglasses, shoppers were quick to snap them up, the brand’s CEO Jodi Bricker told news.com.au.

“Since the show has begun, we’ve seen a lot of excitement from our customers on the partnership, globally,” she said.

“In the UK, we’ve seen a spike in traffic each night the show airs and double-digit growth in traffic since last month.

“The styles the islanders have been loving are also influencing our customer’s choices – the top five selling styles in the UK in June have all been worn on the show.”

It’s a huge result for a brand born from humble beginnings in Melbourne in 2004 and comes after it was sold by the original founders, Linda and Allen Hammond and their son Zak, to Boston-based private equity firm Summit Partners in April last year.

As a result, the Quay team wanted to push the brand to new heights, choosing to sponsor the show to increase its brand awareness outside of Australia.

“Sunglasses are a staple on Love Island and Quay sunnies have been worn nonstop by islanders every season,” Jodi explained.

“We know our community loves the show and has been influenced by islanders such as Amber Gill, Cartier Surjan and Caroline Viehweg, who all wore Quays on previous seasons. “As we advanced our marketing strategy this year, we knew we wanted to test a new approach to collaborations with an integrated broadcast partnership, while giving our fans the best specs of their lives with a fun new collaboration collection.”

More than 25 different designs were proudly worn on-screen, including several polarized sunnies, priced between $85 and $120 – and the brand’s current bestsellers, the $85 “High Key” aviator style frames.

“We launched the Quay x Love Island collection with 16 styles that our product team designed and curated with the islanders, location and show as their muse,” Jodi said.

“Once casting was underway, the islanders were given a wide selection of sunnies to choose from – bestsellers, polarized staples, and new summer drops with vibrant pops of colour, including our official collection.

“They have all been styling themselves as they enter the villa, and we love what they’ve been wearing.

“We also get the heads up from the ITV team on special requests from islanders or events they are planning, such as the blue party, and regularly send new options to the villa for the islanders to try.”

One of the things Jodi said the brand had enjoyed so much about the partnership was seeing how the islanders wear the products, revealing there’s been several surprises during this season.

“We’ve certainly been entertained by Davide rocking his Quay sunnies over his prescription glasses,” she said.

“We offer prescription glasses and sunnies in the US, so the team is dying to get their hands on his prescription to help him solve that problem.

“We also love seeing the islanders pop sunnies on in bed, as the first step in their daily morning routine.”

While the UK season has just concluded, with Davide and Ekin-Su winning the crown, Quay is also sponsoring the US version which has just kicked off and is airing on Channel 9.

“New styles are being added to the collection each week as they appear on air, so be sure to check back regularly,” she said.

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Business

Cost of living: Australians react by eating out, spending $3 billion extra

Cost of living: Australians react by eating out, spending $3 billion extra

recession? Who cares! Aussies are spending wildly on dining out as the ship goes down.

Australia is officially sick of cooking dinner, and we’re done with Uber Eats: we eat in now. At current restaurants.

The latest retail trade data shows Australians have had it up to here with food that comes in plastic boxes and cardboard tubs. We want to go out. We want ambience. We want proper printed menus, commercial crockery, and the kind of wine glasses you’d never have at home because they are as big as your head.

As the next chart shows, it’s not that we’ve stopped buying takeaway food altogether – it’s just that we’ve gone mad for restaurant spending.

Forget pre-pandemic levels – Aussies spent $3 billion dollars on restaurants, cafes and catering in just the month of June. That’s unheard of. We don’t give a damn about Covid and we also don’t care about the possibility of an upcoming recession. We are living for the moment.

Special shout-out to Tasmania too, where spending has gone from under $30 million to almost $60 million. I feel sympathy for the stressed and overworked waiters of Hobart just looking at this chart.

There’s a lot of pent-up birthday dinners in the above charts. Wedding anniversaries too, as well as simple nights at the pub.

I know I’ve been taking the chance whenever I can order a coffee in a cup that doesn’t have a little plastic lid. I actually sit in a cafe and sip it. This chart shows I’m not alone.

Whether Australians are thronging to fine dining or greasy chip joints, we are doing it despite Covid. The most recent retail spending data is from the month of June, so it doesn’t fully capture the latest wave driven by variant BA.5, but Covid has been an ever-present threat throughout this period when restaurant spending was rising. We’re not post-pandemic yet, even if we would like to be.

But what is different from 2020 and 2021 seems to be attitudes: We couldn’t give a stuff. Restaurateurs must be loving it (while infectious disease physicians might have another view).

fear fatigue

Australians are overly concerned. Before we celebrate this too much, we should remember the many with chronic illnesses and immune susceptibility for whom fear fatigue is not an option. Covid is killing more of us than ever. What’s different is we’ve assimilated that information. It’s part of the background hum now, rather than a salient and terrifying factor that affects people’s choices.

New risks are more frightening than old risks. Which is why you might think economic factors could be impeding restaurant spending. There’s a lot of chatter about recession risk, and when you look at surveys of consumer confidence, people report feeling gloomy. ANZ calls it “recession-level” confidence.

Once upon a time consumer confidence was a good guide to spending. But not now, apparently! Real recession level confidence doesn’t make people go out for dinner. What does might be an unemployment rate of 3.5 per cent – ​​by far the lowest in decades.

I know what you are thinking

You’re thinking: Hey, the rise in spending could be because of higher prices. What if it’s not more restaurant meals, just bigger restaurant bills because of inflation?

It’s a really good thing to look at, which is why I checked that data as soon as I saw the spending data I showed you above.

So what does the price data show? It shows the price of restaurant meals shot up in the June quarter, by 1.4 per cent. That is high in historical terms! But not nearly enough to explain how spending rose 10 per cent in the same period.

The numbers really do reflect more plates of scrambled eggs, more Quarter Pounders, more pho, more Diet Cokes and more froyo. It’s a sign Australia has changed: We’re fearless now.

Jason Murphy is an economist | @jasemurphy. He is the author of the book Incentivology.

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Business

Australian house prices: 300 suburbs that have significantly dropped in value

Australian house prices: 300 suburbs that have significantly dropped in value

As skyrocketing interest rates smash the Australian housing market, a dozen suburbs have already seen property prices fall by more than $500,000 since March.

PropTrack’s automated valuation model (AVM) data show more than 300 suburbs across the country where dwelling values ​​have experienced six-figure falls over the quarter.

In percentage terms, the worst-performing suburb in the country was South Hedland in WA’s Pilbara region, where units dropped by 24.81 per cent to a median value of $213,791 in June 2022 – a loss of more than $70,000.

That was closely followed by Booval in Queensland, where unit prices were down 24.64 per cent, or more than $121,000, to $370,231.

But it was wealthy suburbs in the capital cities that experienced the largest falls in dollar terms, with parts of Sydney’s northern beaches and eastern suburbs, Melbourne’s Mornington Peninsula, as well as inner-city Perth and Canberra all experiencing falls in excess of half a million dollars.

Former Prime Minister Malcolm Turnbull’s eastern suburbs home of Point Piper recorded the biggest fall in dollar terms, with units there losing nearly $715,000 in value – a 14.82 per cent fall from $4.82 million to $4.11 million.

Manly came in second place with losses of nearly $680,000 in house prices, representing a 13.8 per cent fall from $4.92 million to $4.25 million.

Ingleside on Sydney’s northern beaches saw house prices fall nearly $610,000 to $2.77 million, while Flinders in Melbourne suffered a $600,000 fall to $2.51 million.

Other suburbs where house prices fell by more than $500,000 include Clontarf, Dover Heights, North Bondi, Bronte, Rose Bay and Bondi Beach in Sydney, Peppermint Grove in Perth and Griffith in Canberra.

Close behind in the $400,000 range were the likes of Double Bay and Tamarama in Sydney, Red Hill – both in Victoria and Canberra – and Mulgoa at the foot of the Blue Mountains.

“Price falls are largely being led by the ‘high end’ of the market and higher value suburbs,” said PropTrack senior economist Eleanor Creagh.

“Manly and Tamarama in Sydney have all posted declines in quarterly values.

“Previously popular suburbs in the Central Coast and Melbourne’s Mornington Peninsula have also seen values ​​decline.

“It’s often the case that the upper end of the market experiences larger price declines, and at the moment it’s the suburbs that are home to more expensive properties that are seeing bigger price falls than more affordable properties.”

It’s not all bad news for homeowners, however.

House prices in some suburbs are still rising, led by Balmain East in Sydney’s inner west, which saw house prices rise more than $329,000 over the quarter to $3.48 million.

New Farm in Brisbane was second with house price growth of more than $295,000 to $2.65 million, followed by Coledale in NSW’s Illawarra region, which was up nearly $289,000 to $2.47 million.

Other suburbs where dwelling values ​​rose more than $200,000 were Newcastle East, The Rocks and Waterloo in Sydney, and Brisbane’s Bowen Hills, Tenerife, Highgate Hill and West End.

“While the current cycle of exceptional price growth is winding down Australia-wide, there are some parts of the country bucking the falling price trend,” said Ms Creagh.

“Parts of Brisbane, Adelaide and regional Australia are proving more resilient.

“With the pandemic driving a boom in remote working, housing markets in parts of regional Australia have emerged, with sea and tree changers looking for lifestyle locations, larger homes, and beachside living.”

The ongoing low supply of properties available for sale, combined with relative affordability advantages driving heightened demand, are causing prices to continue to rise in some regional areas or only just beginning to fail as the impact of higher interest rates weighs on the market.

“As the home price cycle has matured and interest rates are now rising, some suburbs in previous regional hot spots on the Sunshine Coast, and in the Southern Highlands and Geelong regions are starting to see larger price falls, with affordability advantages having been eroded since the pandemic onset,” Ms Creagh said.

“Suburbs like Lorne, Sunshine Beach, Minyama and Noosa Heads have all seen quarterly declines in unit or house values.”

She added it was a similar picture in the capital cities, with markets that led the upswing like the “lifestyle and coastal locations of the northern beaches and eastern suburbs now seeing larger price falls”.

It comes after the Reserve Bank hiked interest rates for the fourth month in a row on Tuesday.

The 50 basis-point increase at the central bank’s August meeting brings the official cash rate to 1.85 per cent, up from the record low 0.1 per cent it was up until May.

Governor Philip Lowe said the RBA had made the decision to raise the rates in a bid to drive down the current 6.1 per cent inflation figure.

In a statement, he said the path to returning to inflation under 3 per cent while keeping the economy on an even keel was something that would take time.

“The path to achieve this is a narrow one and clouded in uncertainty, not least because of global developments,” Dr Lowe said.

“The outlook for global economic growth has been downgraded due to pressures on real incomes from higher inflation, the tightening of monetary policy in most countries, Russia’s invasion of Ukraine, and the Covid containment measures in China. Today’s increase … is a further step in the normalization of monetary conditions in Australia.”

Already, the rise in interest rates has pushed house prices down in most major cities as borrowers stare down the barrel of higher monthly payments.

PropTrack’s Home Price Index shows a national decline of 1.66 per cent in prices since March, but some regions have seen much sharper falls.

“As repayments become more expensive with rising interest rates, housing affordability will decline, prices pushing further down,” Ms Creagh said earlier this week.

Last week, the Australia Institute’s chief economist, Richard Dennis, told NCA NewsWire the RBA was one of the biggest threats to the economy at the moment.

“If we keep increasing interest rates because inflation is higher than we’d like, we might cause a recession,” he said.

“Increasing interest rates won’t help us prepare for a slowing global economy … but they might actually further dampen the Australian economy.”

[email protected]

– with NCA NewsWire

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