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AuMake doubles profit, sales up 93%

Australian retailer AuMake has recorded the second largest sales growth in the company’s history with growth in the March quarter more than doubling since last year’s figures. 

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The retailer, whose products are aimed at the lucrative Chinese consumer, on Tuesday revealed its sales were up 93 per cent at $9.9 million

This compares to sales of $5.13 million in the March 2018 quarter.

Meanwhile the retailer’s gross profit are up 104 per cent to $1.68 million, compared to $820,000 in the 2018 March quarter.

E-commerce sales also rose rapidly, with with 30 per cent of total sales online, primarily through WeChat.

AuMake’s online database also grew six times to 130,000 members compared to just 20,000 in last year’s quarter, signalling the brand’s rapid online transformation.

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This comes as part of the brand’s broader ambitions to expand its online presence, with the company also announcing plans to transform its online business to 50 per cent of its sales.

The announcements comes after the retailer last month announced the $14 million acquisition of Broadway, a global Chinese tourist network.

The company’s retail footprint is now across 25 locations in Australia and New Zealand making it the largest operator in the cross border retail and Chinese tourists markets in the region.

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