Cettire reports solid sales growth as active user count nearly doubles
Australian-listed online luxury fashion retailer Cettire says it is experiencing a “strong profitable growth trajectory”.
Cettire sales grew 82 per cent in October to $34.8 million compared to the same period last year while adjusted EBITDA was at least $3 million for the month.
The boost in sales is driven by repeat customers and active users which grew 88 per cent to 297,358 members.
The average order value was $839 while gross revenue from repeat customers has risen 57 per cent compared to the same month last year.
Cettire’s Founder and CEO, Dean Mintz, said the business has started the second quarter “strongly” guided by a seasonal upswing in traffic and average order value and effective marketing.
“It is pleasing to see continued robust profit performance as we leverage our lean operating cost structure with revenue growth and attractive unit economics.”
In order to localise content, the company is deploying a Chinese-language website, with an app to follow shortly.
Mintz said localisation is a “technology and strategic priority” and the multi-language feature launch marks a major milestone for the business.
In February, Cettire announced the establishment of a partnership with Chinese marketplace JD which was scheduled to commence in the second half of this year.
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