Cettire has reported sales revenue growth of 75% to $101 million for the first quarter of FY23.
The Melbourne-based online luxury retailer has reported adjusted EBITA (unaudited) of at least $8.5 million for the first four months of the year.
Speaking at the AGM, Cettire CEO Dean Mintz said the business would be operated to maximise profitable revenue growth, whilst also self funding.
"Our business has started Q2 very strongly driven by a seasonal upswing in traffic and AOV and effective marketing execution. It is pleasing to see continued robust profit performance as we leverage our lean operating cost structure with revenue growth and attractive unit economics.”
Cettire has commenced deployment of multi-language features via the release of a Chinese language site. A Chinese language version of the mobile apps is expected to be released shortly, with additional languages released in due course.
"Localisation, enabled by our proprietary storefront software, is a key technology and strategic priority in the near term," Mintz said.
"The launch of multi-language features represents an important milestone in the execution of our strategy to localise Cettire’s platform. We are excited to commence deployment with Chinese language features as the Chinese speaking audience is a large segment of the luxury market."
Cettire is an Australian-owned, online luxury fashion retail platform selling clothing, shoes and accessories from over 1300 international high-end fashion brands. In 2020 the company listed on the Australian Securities Exchange, with gross revenue for the 2021 financial year of AUD $124 million.