Lexi Webster
Quay Australia is a sunglasses company that was launched in 2004 with $165 in start-up capital. It is a joint venture between Allen, Linda, and son Zak Hammond. In February 2017, Elevate Brandpartners, backed by Boston investment firm Summit Partners, bought a majority stake in Quay Australia. That April, Elevate Brandpartners made an undisclosed investment in cosmetics brush company Morphe. It is unclear whether Elevate Brandpartners still owns a stake in Morphe or Quay Australia.
| Characteristics | Values |
|---|---|
| Year of acquisition | 2017 |
| Acquirer | Elevate Brandpartners |
| Owner of Elevate Brandpartners | Summit Partners |
| Other companies owned by Summit Partners | Morphe |
| Year of Quay Australia's launch | 2004 |
| Founders of Quay Australia | Allen, Linda, and son Zak Hammond |
| Headquarters | Melbourne, Australia |
| Number of employees | 163 |
| Retailers globally | 2,000+ |
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What You'll Learn
Quay Australia was acquired by Morphe
Quay Australia, a sunglasses company, was acquired by Morphe in February 2017. The company, which launched in 2004 with just $165 in start-up capital, is a joint venture between Allen, Linda, and son Zak Hammond.
Quay Australia has experienced significant growth and success with its women's collaborations and launches. With its fashionable styles and affordable price points, the company has been able to make its mark in the sunglasses market. At the time of its acquisition, Quay Australia was sold in more than 2,000 retailers globally.
The acquisition of Quay Australia by Morphe was facilitated by Elevate Brandpartners, a San Francisco brand management firm backed by Boston investment firm Summit Partners. Elevate Brandpartners bought a majority stake in Quay Australia for an undisclosed sum.
Following the acquisition, Quay Australia set its sights on expanding its men's business. The company relaunched Quay Man with a full collection aimed at men, investing in marketing and product innovation to aggressively pursue this new market category.
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Quay Australia's affordable and stylish sunglasses
Quay Australia is a popular brand known for its affordable and stylish sunglasses. The company was launched in 2004 with just $165 in start-up capital by the Hammonds, a small family consisting of Allen, Linda, and their son Zak. Since its launch, Quay Australia has become a well-known name in the fashion accessories world, with its products sold in over 2000 retailers globally.
The brand is particularly renowned for its trendy sunglasses, which offer an affordable yet fashionable option for consumers. Quay Australia's sunglasses collection features a range of styles, with prices starting as low as $60. This accessibility and affordability have been a key part of the brand's success, making their products available to a wide range of consumers.
In 2017, Quay Australia was acquired by Elevate Brandpartners, a San Francisco brand management firm. This acquisition provided Quay with additional resources and an expanded team, allowing them to focus on new market segments. With this support, Quay Australia set its sights on the men's market, relaunching their Quay Man collection with new styles and marketing initiatives.
The Elevate Brandpartners acquisition also brought changes in ownership. While the brand continued to operate under the leadership of the Hammond family, Elevate Brandpartners became a majority stakeholder. Interestingly, Elevate Brandpartners also made an undisclosed investment in the cosmetics brush company Morphe around the same time. This connection between Quay Australia and Morphe, though indirect, showcases the former's ability to attract prominent investors and partners.
Quay Australia's journey, from its humble beginnings to its global success, highlights the brand's strong understanding of the market and its ability to cater to the needs and desires of its consumers. By offering trendy and affordable sunglasses, they have carved out a unique space in the fashion accessories industry, solidifying their position as a leading name in sunglasses and fashion-forward eyewear.
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Morphe's acquisition of Quay Australia's majority stake
Quay Australia, a sunglasses brand, was acquired by Elevate Brandpartners, a San Francisco brand management firm, in February 2017. Elevate Brandpartners is backed by the Boston investment firm Summit Partners. Following the acquisition, Quay Australia aimed to grow its men's business with the rollout of Quay Man, a full collection aimed at men.
Quay Australia was launched in 2004 with just $165 in start-up capital. It is a joint venture between Allen, Linda, and her son Zak Hammond. Linda Hammond commented on the acquisition, saying:
> It felt like the stars were aligned when Elevate Brandpartners approached last year to discuss a potential partnership. We are entering into such a great future for the brand, and we're excited to see Quay grow from a small family business into a powerhouse in the fashion accessories world.
In April 2017, Elevate Brandpartners made an undisclosed investment in the cosmetics brush company Morphe. However, it is unclear whether Morphe owns a majority stake in Quay Australia. One source mentions that Morphe acquired Quay Australia in February 2017, but this may be inaccurate as other sources suggest that Elevate Brandpartners acquired Quay Australia.
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Quay Australia's global retailers
Quay Australia is a sunglasses brand that was launched in 2004 with a startup capital of just $165. It is a joint venture between Allen, Linda, and their son Zak Hammond. The brand, born from the Australian music festival scene, has since become a global sunglasses phenomenon, sold in over 2000 retailers worldwide.
In 2017, Quay Australia was acquired by Elevate Brandpartners, a San Francisco-based brand management firm. Elevate Brandpartners is backed by Boston investment firm Summit Partners. This partnership has allowed Quay Australia to expand its team and resources, enabling it to aggressively target the men's market with the relaunch of Quay Man.
To cater to the younger generation embedded in the culture of Digitally Native Vertical Brands (DNVB), Quay Australia launched retail kiosks in malls across the US. The company approached Sunrise Integration to help develop seamless omnichannel experiences and automations, ensuring a smooth transition from in-store to virtual during the COVID-19 pandemic.
Sunrise Integration also assisted Quay Australia in scaling its backend infrastructure to match its national rollout. They designed a multi-region AWS infrastructure to support Quay's growing online and in-store retail POS demands, including multi-regional servers and highly available APIs to handle high volumes of traffic and orders.
As part of its global expansion strategy, Quay Australia plans to expand its retail presence in the USA, with at least 10 stores planned. The brand also intends to reach the global fashion consumer and has implemented WFX PLM to streamline its product development and go-to-market strategy.
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Morphe's investment in Quay Australia's growth
Morphe's investment in Quay Australia is a significant step in the brand's growth strategy. Quay Australia, a family-owned business launched in 2004 with just $165 in start-up capital, has become a well-known name in the fashion accessories world, offering affordable and stylish sunglasses.
In February 2017, Morphe, a cosmetics brush company, acquired a majority stake in Quay Australia through its parent company, Elevate Brandpartners, a San Francisco brand management firm. This acquisition provided Quay Australia with the resources and support to expand its team and target new markets.
With Morphe's investment, Quay Australia aimed to aggressively pursue the men's market for the first time since its launch. The company relaunched Quay Man with a full collection of stylish and affordable sunglasses aimed at male consumers. This strategic move allowed Quay Australia to diversify its offerings and tap into a new customer segment, driving its growth and success.
The investment also brought a hands-on approach to product design and marketing innovation, ensuring that Quay Australia's products remained accessible to consumers in terms of style and price. With Morphe's deep experience in high-growth consumer businesses, the partnership was expected to help Quay Australia reach a global fashion consumer base and strengthen its position in the highly competitive fashion accessories industry.
Through this investment, Morphe demonstrated its commitment to fostering the growth of Quay Australia by providing the necessary tools and expertise to expand the brand's reach and enhance its product offerings. This strategic partnership benefited both parties, with Quay Australia gaining access to Morphe's resources and industry knowledge, while Morphe diversified its portfolio and expanded its presence in the fashion accessories market.
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Frequently asked questions
Yes, Quay Australia was acquired by Morphe in February 2017.
Quay Australia is a sunglasses brand that was launched in 2004.
Morphe is a cosmetics brush company.
Quay Australia was founded by Allen, Linda, and their son Zak Hammond with just $165 in startup capital.
The trading structure of Quay Australia will remain the same throughout its Australian, US, and UK entities.
