Profits Soar for Luxury Apparel Brand Cettire Thanks To High-End Buyers

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Luxury e-commerce platform Cettire has noted that demand remains intact for coveted items such as Gucci bags, Dolce & Gabbana jeans, and Jimmy Choo pumps.

Young Rich Lister Dean Mintz, CEO and founder of Cettire, reported a great demand across the regions where their business operates, with the US leading as its biggest sales generator. 

Additionally, they are providing logistics services to 50 emerging markets worldwide. Australia and the UK trail behind from afar yet still play significant roles in Cettire’s success!

“As opposed to the mass market consumer, luxury customers typically earn higher wages and have an enhanced ability to confront economic obstacles such as increasing interest rates,” he told an investor call.

“The high-end market has remained fairly stable despite economic dips. It’s also important to note that America is our biggest customer base, and some of Australia’s major worries are not necessarily affecting them similarly.”

Mr Mintz voiced his opinion just before the Reserve Bank raised interest rates for a ninth successive time and hinted at additional increases.

“We felt confident that consumers would still be interested in high-end apparel even with the Australian dollar weakening,” he said. “It’s all about creating a sense of exclusivity and personalisation for our customers, which has come to fruition over recent months.”

Cettire has emerged as one of the world’s most successful luxury e-commerce stores. Their success has been attributed to their constant focus on providing customers with a unique experience and quality products. The brand is continuing to tap into the strength of its international customer base and expanding its reach in new and emerging markets.

The company’s sales figures have soared since its inception in late 2018, with record profits posted quarterly throughout 2019. Cettire expects to continue its strong performance through 2023 and offer exclusive items unavailable elsewhere.

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