Cettire Announces China Market Entry, Reports Strong Q3 FY24 Results

Cettire (ASX: CTT), a global luxury online platform, has launched its direct platform in mainland China. The company’s founder and CEO, Dean Mintz, stated that China is a significant strategic opportunity, and the launch represents the culmination of considerable preparation. Cettire has continued to experience robust and broad-based revenue growth during Q4 FY24, driving increased penetration and market share in the online global personal luxury goods market.

However, the operating environment has become more challenging in recent weeks, with softening demand trends and increased promotional activity leading to a stricter margin environment. Cettire’s financial performance during Q4 FY24 has also been impacted by these developments. Despite the challenges, the company expects significant year-on-year growth in active customers, sales revenue, Adjusted EBITDA, and cash for FY24.

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