Cettire’s closely guarded business model and its opaque supply chain still has the fashion industry baffled and the funds management industry split.
Whether this duty mismatch was isolated or systemic, we simply did not know, but the company was unprepared to give too much away judging by its response to theThey wanted to know when we sent the questions to the company – given the CEO sold 7 per cent of Cettire the previous Friday – and whether we had more articles in the works.
Cettire insists it is operating within the rules but that any further explanation is commercial in confidence.The duties are no longer shown separately, which makes it harder to work out whether customs is being paid an equivalent amount to what the customer paid.While at least one competitor insists they aren’t declaring values well below the purchase price, we don’t have visibility into how other e-commerce players are treating duties and taxes.
For now, investors are using the share price volatility to reconsider their bets. Some have run for the exit, while others are using the fall toIn fact, its largest shareholder, Regal Funds Management, says it has looked into the duties and doesn’t think there’s an issue. Other investors can’t ignore the fact that Cettire is not only growing sales but, impressively, is winning repeat business from existing customers.