Cettire thrives as customer satisfaction, retention soars
Australian-listed online luxury fashion retailer Cettire says it has registered “tremendous growth” for the full year as sales grew 98 per cent.
For the year ended June 30, sales reached $416.2 million, up 98 per cent, while gross revenue grew 87 per cent to $539.2 million and adjusted EBITDA was at $25.8 million.
Active customers totalled 423,000, up 63 per cent, driven by continued strength in customer acquisitions and improvements in retention.
Repeat customers accounted for nearly 58 per cent of gross revenue with an average order value of $747, up 6 per cent.
During the year, the company deployed multi-language features including Chinese, Japanese and Spanish language sites.
This strategy facilitated further growth within emerging markets with gross revenues in these markets up 140 per cent.
Cettire’s founder and CEO, Dean Mintz, said the company “grew rapidly” while also delivering significant profitability and cash generation.
“Cettire stands out from other software and technology-enabled businesses globally for its ability to consistently grow rapidly, whilst achieving attractive levels of profitability and capital efficiency. We are very well positioned to continue to grow our share of the personal luxury goods market.”
For the upcoming year, the business expects a “positive trading momentum” in all key markets and is gearing up for its China market entry.