Cettire’s sales rose 1.7 per cent to $693.8 million for the year-to-date period ending May 31, but the company warned of persisting challenges in the global luxury market, exacerbated by US tariff policy changes.
During the period, Cettire’s gross revenue climbed 2.2 per cent to $920.1 million while average order value jumped 2.7 per cent to $825.
However, the number of active customers declined 1.3 per cent to 671,328.
“The operating environment within the global personal luxury goods market since Cettire’s Q3 FY25 trading update has remained volatile, with a continued softening of demand in the company’s established markets, notably in the US,” said Dean Mintz, founder and CEO of Cettire.
“Recent results from luxury industry participants point to continued challenges in the sector, amplified by trade uncertainty surrounding US tariff policy. As a result, elevated promotional activity persists across the market.”
Cettire added that foreign exchange swings contributed around $2 million of the negative adjusted EBITDA during April and May, affecting year-to-date profitability.
The foreign exchange impact is in addition to the $2.1 million announced in Cettire’s third-quarter trading update.
“The company’s emerging markets continue to demonstrate a significant opportunity and Cettire is evaluating a further expansion in its footprint, having launched operations in Kuwait and Bahrain in recent weeks,” said Mintz.
“Cettire remains relentlessly focused on its strategy to grow profitably while self-funding. Due to the rapidly evolving market environment, the immediate focus remains on improving profitability.”