Ep 19 – Thread Wallets | How a Simple Idea Became a Global Lifestyle Brand | Only Friends on a Pow Day

[Music] Welcome back. Only friends on a par day. Got some new international guests here coming from Salt Lake City, Thread. First time in Australia entering the market over here and bringing some new products. Stoked to having boys on. Thank you for jumping in and welcome to us. Yeah, wow. First of all, I keep telling Mark this. I got to figure out how to live here. I don't know quite how to do it yet, but we came into Sydney for the first three days before coming up to Canberra and what an incredible city. Just so much to explore and do. You know, I mean, it's just even the food scene surprised me. No one really says like, oh, the food, you know, but food scene there is amazing. Very multicultural. Multicultural, yeah. Yeah. And the weather's being good. Like I remember this time last year, it was kind of cold and gross. Pants and jackets. And here I am in a party. Yeah, but I mean, you got to mark an eye or else we're trying to be as warm as we can. It's cold up here. And we're from Salt Lake, you know. Yeah. Now, awesome to have. I just interviewed another girl. It was their first trade show. So it's really awesome to support and talk about something new and fresh. Yeah, stoked to have you boys on. Bit of a different accent instead of a bunch of Aussies. Happy days. Salt Lake. Tell us a bit about thread and why you're here and how it all started. Yeah, Mark, I'll kick it off here. Yeah, so threads we've been in business for about 10 years started in 2015. Our founder Colby is his name. Was living in Hawaii lost his wallet while surfing in the ocean as you do. As you do. And obviously needed a new wallet. In the meantime, he was using a stolen rubber band rubber band. Off a stem of broccoli from the market and wrapped that around his cards as you do. Being a poor college student and living a very kind of laid back, you know, minimal minimalist lifestyle in Hawaii. And as he was going to kind of look at options out there because he needed a new wallet, the rubber band wasn't doing enough. He was looking out there and seeing black and brown leather bifolds. That was about it. And, you know, he's a big skateboarder and snowboarder and surfer. And obviously really loves the lifestyle and the culture that surrounds those sports. And was like, okay, there's got to be a better better way. There's got to be a better wallet that aligns with how I express myself, the culture that I'm a part of and love to be a part of. And started looking at that category more with a business, you know, I, because you're studying entrepreneurship out at the university there. And then came up with this elastic wallet. It's funny enough, it's kind of like a glorified rubber band. It's a double wrapped polyester elastic pocket that he then found you can print, you know, call any color you can print your face on it Austin if you wanted to. That wasn't so low. I think it, I think it'd go great. So, so with that, it kind of, with that canvas, it just created this awesome opportunity to bring a very functional and minimalist product with expression and fun prints and designs on it to, to the space. And I don't think at that time, he or his wife who became the co-founder of the business, just the disruption that that would create to the category of wallets and accessories. And so from Hawaii, they moved back to Utah where she's from and really started the business there and rode the wave of Shopify in the early days and social media, kind of from more for business. And all of that momentum allowed thread to really blossom into this very direct to consumer brand. Yeah. Where we did a lot of direct to consumer, a lot of digital marketing and efforts there. And then over, you know, about five year period of time, we jumped into wholesale, business out there and got into surf shops and snow shops, skate shops, boutiques. What's exciting about the product is it can kind of live and exist in a lot of different markets. Yep. Just due to the nature of what we can actually put on the product. And the, you know, the utilitarian of, you know, a lot of people can use it, which is great. And, but the roots in the megaphone, if, you know, as it were, of the brand always will kind of exist in that, that lifestyle, brand, lifestyle ethos. And, and from there, we've just seen this really exciting momentum. Yep. And from, from there, and that wholesale kind of expansion led to the obvious like, okay, what does this look like on a global scale? And over the past two years or so, Mark, we've been traveling a fair bit to Argentina and Mexico. And we're in Japan three weeks ago with our partners out there. And then, you know, here we are in Australia with a great partner and first showing to kind of bring that same story here to, here to this wonderful country. How'd I do, Mark? Is that pretty good? Good. That's spot on. You know, it's been interesting as we've had this opportunity to grow nationally. Trevor's been with the company eight of the ten years. I joined a two years ago and missed kind of that first wave in the US market. But as we've introduced the brand into these international, to kind of have that aha moment of what we're doing. You know, there's a lot of lifestyle brands that have played in some of these categories. You know, some of those heritage brands that will do a wallet here or an accessory there. But where we saw an opportunity, there wasn't really anyone trying to own create a brand that was rooted in that space. And so as we've entered in the new markets and people see what we're doing and see how it resonates with their consumer. It's really cool. It's been a lot of fun to see the adoption as strong and actually quicker in these international markets that we even saw domestically in the US. And so that's where we get excited as we enter into new markets like Australia. And being such a strong snow and surf culture and where the brand lives today, it's just felt like an old glove. It just fits right in. It's very straight in there. I haven't actually been over and seen you, but anyone who I've talked to who's come over and seen it is like, yeah, it's really, really cool. And I definitely think that they're used to spot on. There's a spot for someone to really own that area because to be completely honest, most people who delve into these areas, it's not their focus. And therefore it's half-ass. So if you're coming in and doing it right, then there's always a space for someone who's dedicated to nailing totally something that they're passionate about and you guys are obviously all about it. And you can tell that. Yeah, we're kind of neuro-broccoli. We're broccoli's down. Broccoli and rubber there. Yeah, we're kind of nerds for wallet. It's weird. People ask me what you do for work. I'm like, I just so walleted. But no, I mean, obviously it's way more to that. There's so much of a a soul to the brand and through the designs and the prints and the collaborations we've done, be it with ambassadors or athletes or brands in America. And now we have the opportunity to tell that story on a global scale. It just becomes like the canvas starts to expand and get bigger and bigger and bigger. It's really cool. Thank you guys for jumping in. Can I show you some of the things that you're doing and tell us a little bit about what people can expect, which product here in Australia? Yeah, I think what's also important to note is we built the brand and laid a foundation. It's been really cool to see again over the last few years of us finding opportunities once the brand has been established to expand into other categories. And so what started as a very niche wallet category for us has now grown into supporting accessories and now into the bag space. Yeah. And then the US market starting to see us compete with some of these again, heritage brands that have been in bags for decades and us come in and add a little bit new flavor to it, a little bit new style and and position and it's been great. That compliments as well, something new is always exciting and fresh. And if you're bringing in something that, you know, the bags, right? And if you compliment and add something fresh to that, I think it's it's paper, bottom to buy bags. Right. And then you layer in this self expression whether it be through our designs or colorways and to your point, it speaks volumes to that audience. So it's about your original question. I mean, when you look back at what the genesis of the brand was and this a lot wallet. You know this is our vertical wallet here. You know it's very simplistic in nature but again you get all the hallmarks that you look for in a wallet. You got your RFID protection in the middle. You've got this nice elastic band on the backside that will allow you to shove through your four additional cards in there, a pocket on the back. So a very small minimalistic wallet, you carry up to eight cards. Yeah there you go. You know and then really as we kind of added to that and added to the story that's where the you know supporting accessories come in. So you've got you know most people will look at this and when it's packaged like this don't quite understand what this product is but it really is to add your lip balm. This is a product we talk about that it's a product you never thought you needed until you have it right. I've got I've got pills to to young children and I buy lip balm all the time and I can net like I was like there's like a lip balm like black hole. Oh yeah you've never seen the bottom of a lip you don't know our ghost. Well no it's crazy you think about I mean at least in in Salt Lake right it's it's a dry it's a dry snow. Yeah right so when you're up there your lips get chapped and I have some buddies they're like man it's first time I've actually seen the bottom of the barrel here. Bottom of the the tube of chastic because because you know after probably two or three uses it's lost in their gear it's in the black hole. Yeah it's gone down the lip balm black hole. It's like I'm not the universe. Yeah so it's become actually a very high selling high demand product for us even though it's so simple nature. So you think about these all coupled together into one solution yeah and a customer that doesn't want to take a wallet a traditional bifold wallet or even a purse this allows you to pretty much carry your essentials with with your wall you know your ID your cash your cards your lip balm you throw your car keys on here. This pass. Yeah exactly right and this is really what we consider the trifecta and you know oftentimes all these products are sold independent we find consumers that will either find matching prints of all of the styles or silhouettes or they'll find complimentary colors and they kind of build their own yeah a sort of kind of functional and fashionable hey right you get it out right so again that's that's where we started and you know if you see us in in a retail environment we have these nice countertop displays at your point of purchase that allows you to mix and match it makes it very easy for the retailer to shop. Again if you look at the history of the brand being successful from a D to C perspective and then that transitioning into wholesale or retailers love us. Yeah it's a great product. I'm in forms expectations every time. And I guess it's an easy add-on not a huge display. Yeah it's an impulse buy for a consumer. Yeah it's $15 AUD up to 40. On the counter all that makes sense yeah. Get the bull. Come holidays season obviously it's a makes tremendous gifts. Let your lip balm go to the black hole. Exactly right. That's right. Put it in the stocking. You'll save the amount on the lip balm. Yeah. That's right. Yeah. Does that mean you call it stockings here Christmas morning is a yeah there Christmas stuff here you go. Yeah. Stocking stuff is what we call those. Yeah. So while we continue to develop new products we've never abandoned each our investment or focus in wallets and so we continue to create new form factors of zip wallet there. A little bit more protection if you want that zip closure. A little bit more outdoor inspired with the pouch wallet which is quickly becoming one of the brand's top sellers. Again with the nice ID window. Feels really. Feels sexy. That's right. You're not the top of the list when we were designing the products. It was the level of sexiness that had to exude from the product. So yeah we continue to invest in still in the wallet and in touted your small accessory categories but what's been really cool is as we've entered into this bag space and you know we would you say Trevor six years into the business is really when we introduced our first bag. Yeah about about there six years. Yeah. 2019 is when our bags came into market. So here we are looking at this massive category that have these hundred players in it and said how are we going to play there and again really focused on who our customer is created our first cross-body bag and what do we call it here the the oh no that's the fan oh yeah Fanny Pack here we bum back the bum bag Fanny Pack bum bag yeah yeah this is our bum bag here I learned that quickly yesterday I was saying the wrong thing gotta go like Fanny Pack. Fanny Pack go but yes Australia is more bum than and listen I think if I could and and and if going back to America and talking like an Australian are using their slang I think people look at me a little differently yeah but if I could I would take all the slang back with me I love it yeah being a Californian you know we kind of live and die by slang in a lot of ways yeah are the Australian slang is another level it's another dimension of Fanny in Australia means vagina so that's why we don't call it a Fanny Pack. No one educated this is why they don't know now we know that there wasn't much detail. We ordered a bum bag instead of a Fanny Pack. Yeah we're going to the opposite end and that makes more we got the looks we got yesterday referring to it as you know and I think when I did say that I was speaking to a woman Mike so I think it starts to be a little bit more sense. I'm so glad that I was able to break that too. Thank you so much. So the bum bag there you go. I just added the bum bag space to the cross point. The vagina pack. It was the highest price points we had played in. It was a brand new category for us and to see our customers follow us into these categories was very validating for us. And again I'll say like all of this feels sexy playing eight and polished. It's a good way of thinking. Yeah I think the word there Austin is an intentional right we try to design with a lot more intention we wanted to to feel like as a good way as utilitarian as the elastic originally felt when you put your cards in and your keys on it and that's all you needed that same kind of ethos or storytelling through the product lens of just function. Yeah it's kind of exists through every product that we focus on in the space. It's it breathed quality and you can tell like obviously Bane and Braytow for a long time and whatever but you you can tell when there's love put in a product and this smells of love there you go. A lot of love a lot of love. Sure but if you want to mention some of the collaborations we've done that again have elevated the brand. Yeah so naturally right as a brand you're constantly looking for other brands or other entities that have a similar crossroad as far as expression goes or fashion goes to obviously stay relevant but really to engage with your customer or other customers more so that they can feel of that love to Austin saying about the product. So in the last two years real tree which is this obviously really exciting camel has been very popular for us over in America and not in just the street the sense of it being a very street where kind of focused trend but also you know people who just love camel and so putting putting that and kind of finding the right application for our product there. Yeah exactly. It has been exciting to see collaborations like that really hit hard. Others that we've done we've worked with North Face on wallets we've done Brickston which I know is over here in Australia we've done collaborations with them Codapaxi which is another outdoor brand and yeah we just we obviously love trying to find those crossroads where the brand and the product can just naturally fit and make sense for our customer and for ourselves and just again ensures that that quality of product and that love and care to the market that we're contributing to it just exists. I love a good collab I think it's really awesome when brands can come together and complement each other so that's that's awesome. I'll give the views. Yeah and then kind of the extension from as Mark has been speaking to kind of the ecosystem continues to evolve and as we like look at the consumer and what they're using you know obviously in the last few years we've seen tumblers water bottles become very popular and so we created a what we call an aquasling. It's like a water bottle whole as a aquasling. Yeah aquasling as the Australian say and it's been a heavy hitter back home in the US it's kind of like a extension of the crossbody bag but with an insulated water bottle pocket double insulating double ventilation so that's that's been a winner for us and and more niche I would say as far as like it serves a very singular purpose but a purpose that is very general and everybody everybody likes their liquid. Somebody needs some water right? I tried it. There you go. It's really cool and again and again it does yeah smell like quality and there's a lot of love and care you can tell that you guys are Not keeping out on anything and making a product that's gonna last yeah, yeah, we appreciate you saying that Yeah, you can tell yeah, it's good. Yeah, it's been all breeds and smells like quality so awesome to I'm guys here bringing something cool fresh and new and Yeah, injecting some Actually care into a kind of small accountability. I think that's awesome. Yeah, yeah Again, as we've gone through this expansion over the last year Really validating for us to see our consumer continue to grow Also glow and I think we have a great formula our designers do a phenomenal job Yeah, sure being one of them of knowing what's fresh And creating to that. Yeah, no like as I said, I I wouldn't lie of this is not a paid interview edge if we've just met so I I'm not lying when I say that your products are clean, quality, well-made and there's a lot of love that's gone into them Yeah, so that's that's very clear and Talk to you guys are obviously passionate about what you're doing I'm stoked to have you sitting on my Carage set up Honestly, I love the couch I kind of can't take a nap here. Yeah, honestly, but it drove eight hours to get here from talk Hey, I was gonna get a different couch in Canberra, but I love it needed to be Let me my red velvet. Yeah, well, that's yeah, this is kind of your first love of couch, right? You don't want to Or go smoke I'd smell it, but I'm a little nervous to Well, yeah, anything else boys that you want to add? I was just gonna say for for those listening that are interested you can find us at thread wallets.au and Any retailers shops out there that are also interested You can probably go to the similar similar place or our Instagram thread underscore wallets dot I'm sorry underscore AU as well. Cool. So you guys just entered in Australia started a website You hear at trade show to meet some re-tapes. Yes, yeah, and you're ready to rock and roll ready to Retrieve distributor all set up. So we're ready to go. Yeah, we got stop we got inventory here. We got stock Yeah, yeah, and this is awesome because obviously I think your distributor Was like do you want to talk to the guys from thread and I was like Who's threat? So now I know I'm stoked on the product. I think it's awesome very complimentary good to see people come in cover the heart with a quality product and Stoked to have you guys here at the camp the trade show very stoked to have a chat with a Lovely accent not a dirty awesome. I don't know about that. See, it's funny because I feel the opposite way You're right. I already know when I'm gonna hear myself. I'm just gonna be shaking my head Yeah, I'd rather sound like you so are we also that way when we hear ourselves, but I'm really appreciate you guys Thank you start to have you here. It's been a pleasure. I'll never Have you seen the show? I'm cute so now some cash and I'm sad I'm my shop station. I'm some price I'm recognize I realize So they must demonstrate how long time them day and hour they're not just come and it's been a long while They want a piece of the pie will be part of the song true. I pay by food to feed them family that's no light any either You can sound joy to test them out. I die them not people look all wrong. They're my weird. I full time. No, they'll be get that slice out the cake No, so fix because I don't want to be a good tune. I this on the paper yet. I'm a martial Hello, but the UK America and J. A people want clear. I'm buying a lot in the business. I'll go down for a night for before they play a damn one