Softer trading conditions proved detrimental for online luxury goods retailer Cettire (ASX: CTT), impacting its financial performance in the quarter. To combat the decline, the Company has expanded its base, officially launching its direct platform in mainland China which went live yesterday and has already processed orders. This marks a big step in its strategic
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Luxury retail platform Cettire (ASX: CTT) is coming off a pretty successful first half FY24—a remarkable feat at a time when luxury spending has taken a backseat. The Company saw a major uptick in gross revenue, reaching $460.5 million, a 90% increase compared to the previous corresponding period. Sales revenue also soared to $354.3 million,
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Is there any industry that still thrives amidst the pandemic, mortgage pressures, inflation and rising cost of living? While setbacks and economic downturns affected almost all business areas during the pandemic, the luxury goods market has oddly been inflation-proof, being one of the fastest industries to bounce back in 2021 to pre-COVID-19 heights as the
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For 12 months, eCommerce store Cettire (ASX: CTT) has been scrutinised and watched like a hawk as its CEO Dean Mitz cashed out his shares in the Company consistently—first in March, then just last month. Besides that, seeing the rocky year that eCommerce has had, Cettire also dealt with financial setbacks. Now, it is bouncing
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A CEO is the ultimate “inside man” of a company, no one knows the business better than they do. However, when they have started to sell a huge chunk of their shares every few months, is there a clearer telltale sign that the company has fallen from grace? Luxury goods retailer Cettire (ASX: CTT) confirmed
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Since February 2022, online luxury retailer Cettire (ASX: CTT) has seen its share price plummet from $2.13 to only $0.88 as of August 30. However, a baffling discrepancy followed as the Company released its financial report, announcing a gross revenue growth of 131% to $287.8 million. All this while, profit fell about 7.5% to $19.06
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