Is this the last of the Bondi Beach shacks? | Kanebridge News
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Is this the last of the Bondi Beach shacks?

As developers and renovators change the face of the suburb, a rare example of old Bondi hits the market

By KANEBRIDGE NEWS
Wed, Nov 16, 2022 10:55amGrey Clock < 1 min

Bondi Beach might be better known for development and construction than a relaxed, sun-drenched lifestyle these days, but there are still hidden gems to be found in the iconic coastal suburb.

Positioned in a quiet cul-de-sac within easy walking distance of North Bondi Beach, 144 Murriverie Road offers the kind of carefree beachside living that the area has become synonymous with.

Offering four bedrooms, two bathrooms and two car spaces, the post-war home has been stylishly updated while still retaining its coastal charm. 

There’s self-contained accommodation and storage space at street level while, upstairs, the open plan living, kitchen and dining area leads onto a spacious deck with district views across to Rose Bay and the Harbour Bridge. A generous study on this floor is buffered from the living space by the central staircase, making it an ideal home office environment, as long as the sound of the waves doesn’t distract.

On the top floor, three light-filled bedrooms clustered around the bathroom also enjoy views of the treetops and district views.

With 490sqm to play with, there’s plenty of scope for growing families, who might also be attracted by the range of schools within easy walking distance.

Others still might be won over by this home’s charms as it is, with its gently nostalgic reminders for a time when this Sydney suburb truly was a surfer’s paradise.

 

Auction: Tuesday December 6

Open for Inspection: Thursday November 17 11.30am-12pm

Price guide: $5 million

Agent: Alex Lyons 0488 201 377, Ric Serrao 0412 072 178

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The Lipstick Index Is Back

Sales of the cosmetic product are a bright spot in an otherwise bleak discretionary-goods environment

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Fri, Nov 25, 2022 2 min

Masks off, lipstick index on.

In a gloomy economy, consumers might cut back on other discretionary purchases but will keep shelling out for small luxuries such as lipstick—or so goes the theory. “When lipstick sales go up, people don’t want to buy dresses,” Leonard Lauder, then-chairman of Estée Lauder who is widely credited for coming up with the so-called “lipstick index,” told The Wall Street Journal in 2001.

L’Oréal Chief Executive Nicolas Hieronimus called this out during the company’s earnings call in October, noting that a luxury lipstick or mascara is only €30, making it an “affordable treat.” Sales at L’Oréal rose 9.1% in the third quarter compared with a year earlier despite slower sales in China due to Covid-related lockdowns. Coty, maker of CoverGirl makeup, said organic sales grew 9% over the same period.

Beauty sales have also been a rare bright spot for retailers: Target said beauty category sales grew roughly 15% in its quarter ended Oct. 29 compared with a year earlier, with Ulta Beauty shops in Target tripling their total sales volume over that period.

While Macy’s namesake stores saw comparable-store sales decline last quarter, its beauty-focused Bluemercury chain saw same-store sales grow 14% last quarter compared with a year earlier. Kohl’s locations with Sephora are outperforming the rest of the department-store chain.

Of the 14 discretionary categories that market research firm NPD Group tracks, prestige beauty—products you might find at a department store or a Sephora—is the only category that is seeing unit sales growth year to date. And lipstick, which suffered during the masked-up pandemic, is making up for lost time.

Lipstick sales have grown 37% through October this year compared with a year earlier, according to Larissa Jensen, beauty industry analyst at NPD Group. That is an acceleration from the 31% growth seen during the same period last year. Lip product is the only major category within prestige beauty where sales are actually up compared with pre-pandemic levels, according to Ms. Jensen.

Cosmetic companies have also called out strong sales in fragrances, calling it the “fragrance index.” Demand has been so robust that there is an industrywide fragrance component shortage, Coty said in a press release announcing third-quarter earnings earlier this month. CEO Sue Nabi said during the call that Coty hasn’t seen any kind of trade-down or slowdown, also noting that consumers are shifting away from gifting perfume to buying it for themselves.

“A big piece of it is just a shift in what wellness means to consumers,” NPD Group’s Ms. Jensen said. “Beauty is one of the few industries that are positioned to meet [consumers’] emotional need. It makes them feel good.”

While the lipstick effect could be observed in the recession in the early 2000s, that wasn’t the case during the 2007-09 recession, during which lipstick sales declined alongside other discretionary purchases. Part of this might have had to do with category-specific dynamics.

There was a lot of newness in the cosmetic industry in 2001, including lip gloss, a relatively nascent category back then. That tailwind simply wasn’t there starting in 2008, though nail polish turned out to be consumers’ small indulgence of choice in that period. This time around, consumers may be eager to show off a part of their face that was hidden behind a mask for so long during the pandemic.

In an otherwise bleak environment for companies selling discretionary goods, those in the business of selling cosmetics look well poised to come out of the holiday season looking freshened up.

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