Cettire Ltd. (AU:CTT) has released an update.
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Cettire Ltd., a global luxury online retailer, has successfully launched its direct platform in China, the world’s largest luxury market, and is already processing orders. Despite recent market challenges and increased promotional activities affecting margins, Cettire expects significant growth in FY24, forecasting a 77-79% rise in sales revenue and a 24-36% increase in Adjusted EBITDA. The company’s positioning in the online luxury segment remains strong, with improved customer retention and a robust, capital-light business model.
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