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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For the first twenty weeks of FY24, Aussie fashion retail company Universal Stores (ASX: UNI) has had to place its focus on promotions and discounts to cater to increasingly price-conscious consumers. Universal saw a spending decline in the regional areas of eastern Australia, contrasting with the more robust performance in metropolitan and CBD locations. In
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This year, Australia is witnessing its warmest winter since 1910, with spring not expected to make things better. Rough times lie ahead not just for Aussies but also for brands whose USP is winter clothing, like Kathmandu. Seeing its first full financial year of uninterrupted trade since the pandemic, retail company KMD brands (ASX: KMD),
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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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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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