Cettire sales jump 122 per cent as demand soars

(Source: cettire/Facebook)

Australian-listed global luxury online retailer Cettire says sales growth has “accelerated” despite seasonal low points during the third quarter.

In a trading update for the four months to April 30, sales grew 122 per cent to $141.3 million while adjusted EBITDA reached $7 million.

Active customers increased 47 per cent to 371,749 while the average order value was $742.

April sales rose 160 per cent year-on-year driven by repeat customer revenue and an acceleration of growth in active customers.

Cettire founder and CEO Dean Mintz said the business has continued to “demonstrate exceptional operating momentum” as revenue grew faster compared to the first half.

“It is particularly pleasing to see the company’s localisation strategy is delivering results, with revenue from its emerging markets outpacing the group.

“Cettire is rapidly growing share in a large and growing global market, which benefits from the structural shift to online.”

Full-year results will be released in August.

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