E-commerce
Australian-listed global luxury online retailer Cettire said sales growth “accelerated” despite seasonally low numbers in the third quarter.
In a trading update for the four months to April 30, sales rose 122 per cent to $141.3 million, while adjusted EBITDA came in at $7 million.
Active customers grew 47 percent to 371,749, while the average order value was $742.
April sales were up 160 percent year-over-year, driven by recurring customer revenue and accelerating growth in active customers.
Cettire founder and CEO Dean Mintz said the business continued to “show exceptional operating momentum” as revenue grew faster compared to the first half.
“It is particularly pleasing to see the company’s localization strategy paying off when revenues from its emerging markets outperform the group.
“Cettire is growing rapidly in a large and growing global market that is benefiting from the structural shift to online.”
Full year results will be released in August.