Cettire has reported double-digit sales growth for the fiscal first half despite what management described as a “softer demand environment”.
The company’s sales for the six months ended December 31 surged 11 per cent to $394 million, while gross revenue increased 12 per cent to $514.1 million.
The number of active customers grew 21 per cent to approximately 695,000.
On the bottom line, earnings before interest, taxes, depreciation, and amortization fell 54 per cent to $12.1 million.
“I am proud of what we have achieved in H1-FY25 considering the softer demand environment for luxury globally and the fact that we are cycling an extremely strong FY24 comparator period,” said founder & CEO Dean Mintz.
“Taking into account the external challenges over the past six months, these results give me great confidence in our ability to drive significant profitable growth in the future as demand improves and we continue to invest in scaling the business,” he added.
The company expects the environment to remain challenging in the third quarter but believes improvement of the luxury market will start in the fourth quarter.
