Cettire says impact from tariffs, Middle East war fuelled significant loss

Sean Cao

27th Aug 2026

Cettire’s annual loss has more than trebled, as the luxury retailer faced headwinds from US tariffs and the conflict in the Middle East.

The company reported a net loss after tax of $8.5 million for the year ended June 30. This followed a $2.6 million loss in FY25.

Sales revenue for the period fell 3.2 per cent to $718.4 million. Gross revenue was down 2 per cent, but up slightly on a constant currency basis.

Active customers dropped 8 per cent to 605,000, reflecting softer US demand and a strategic reduction in paid marketing investment during the year.

Cettire’s founder and CEO, Dean Mintz, said the global luxury market continued to face headwinds throughout the year.

“During the period, US tariff changes, including the impact from the removal of the de minimis exemption, contributed to ongoing challenges in our largest market. 

“In the second half of FY26, sentiment in high-growth Middle Eastern countries was impacted by the ongoing conflict in the region,” Mintz elaborated.

Mintz noted that there were early signs of sector stabilisation in the final quarter, as US tariff refunds helped mitigate the negative impact.

Excluding the US market, Cettire’s sales revenue grew 14 per cent, highlighting underlying momentum and market share gains in other regions.

“As we further cycle the impact of US tariff changes, we expect to see continued improvements in revenue momentum in the US market, while outside the US we are encouraged by the growth we have seen in Q4 FY26 and into the early stages of FY27,” Mintz added.