Cettire Limited (ASX:CTT) has commenced its planned entry into the global luxury beauty category via a new website vertical.
The beauty category represents a €60 billion (~A$100 billion) global opportunity within the broader personal luxury goods market.
Cettire’s entry into the luxury beauty sector is aligned with the company’s strategy to grow its addressable market by entering adjacent luxury retail categories that are logical extensions for Cettire’s technology and distribution capabilities.
Continued broadening of the company’s product range and selection provides opportunities for Cettire’s rapidly growing customer base to purchase multiple high value items across different categories at a single online destination.
It also presents further opportunities to accelerate the introduction of new customers to its luxury platform. Cettire has entered supply arrangements and is currently finalising its commercial proposition with a view to a soft launch this quarter.
Founder and CEO, Dean Mintz, said the company has access to more than 25,000 beauty products from more than 600 brands. The launch range is expected to feature products spanning skincare, cosmetics, haircare, fragrances and more. It will encompass both womens’ and mens’ selections and be available to customers in all existing markets.
Our entry into the beauty category represents an opportunity to further establish Cettire as a leading global online luxury destination,” Mr Mintz said.
“Beauty represents a large and growing adjacency within the global personal luxury goods market. It is a natural extension of our range, particularly as we continue to rapidly scale site traffic and active customers while growing brand awareness globally.
“The scope to integrate fashion and beauty provides excellent potential for cross-promotion and provides a further point of differentiation for Cettire.”