Australian eyewear entrepreneurs Linda and Allen Hammond have taken over global eyewear entity Otra, with plans to further scale the business globally and across ANZ.
Linda is now CEO of the brand, while her husband Allen is the chief financial officer.
The duo are the founders of global eyewear brand Quay.
Speaking exclusively with Ragtrader, CEO Linda Hammond said Otra is currently stocked in over 500 retailers globally, predominantly in the North American market through Anthropologie, Lulu’s, and Simons.
In Australia, the label is already distributed through retailers including City Beach and Sunglass Culture.
Hammond said there are plans to expand across ANZ through wholesale and an eCommerce-based business from the third quarter of 2023, alongside overseas growth across the Asia Pacific and Europe.
She reported overwhelming support from retailers and distribution partners which they have worked with in the past.
“We plan to double our current sales by the end of 2023, with exponential growth in these markets for 2024,” Hammond said. “We have also had great exposure with influencers and celebrities.
“We are also in talks for a few pop-up events in major stores around the globe.”
Hammond added Otra will continue to expand its Bio Acetate range, which is an eco-friendly line made with plasticisers from 100% renewable sources rather than oil-based ones.
Speaking on the timing of the takeover, Hammond said she and her husband Allen have traded in tough financial environments previously, having launched Quay in the US market amidst the global financial crisis in 2009. Five years on, Quay grew to 5,000 retailers globally, with the brand then being sold to a US private equity firm in 2016.
Hammond said for any business to survive, it requires the ability to identify missing categories in the market and filter it through to the end customer.
“One of the key reasons we’ve succeeded was due to our ability to identify gaps in the market within tough economic shifts in retail,” Hammond said.
“We were able to create curated high-end collections at affordable prices for every customer demographic, and we will continue to do so with Otra, without ever compromising on quality – one of our key brand ethos which we will continue to stand by.”
As a family-run group - which also includes their son Zak as head of design at Otra - Hammond said they consider every stakeholder it works with as part of the business.
“Our business can only survive if people believe in our mission and support our brand,” Hammond said. “Thus, we place importance in being hands-on - cultivating and fostering positive rapport with our suppliers, retailers, and customers and ensuring everyone is always supported and happy.
“Our goal is to grow Otra globally into a disruptable brand in the eyewear industry where we are known for our cutting-edge one-of-a-kind designs and quality.”