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Cettire Bites Back Against Fakes Allegations

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By Published On: May 28, 20240 Comments

“There is not a single confirmed case of a non-genuine item being sold on Cettire’s platform,” the company stated.

Cettire has bit back against recent negative press articles that have, “sought to amplify the claims of parties who have openly taken short positions in Cettire shares and sought to profit from a short term decline in the share price.”

Over the weekend, the luxury goods marketplace was accused of selling fake and imitation products.

“There is not a single confirmed case of a non-genuine item being sold on Cettire’s platform,” the company wrote in an ASX release. 

It refers specifically to an article published over the weekend by The Australian that cited a report commissioned by a short seller as primary source material. The company claims it has not sighted the report, nor been given an opportunity to comment on it or to check its accuracy.

“None of the examples presented to Cettire by The Australian contain any verifiable evidence that a non-genuine item had been purchased via Cettire,” the company wrote. “Based on information provided by The Australian, the items used as examples have not been inspected by either Cettire or the relevant manufacturer to verify their authenticity.”

“Cettire only works with established distributors in the luxury supply chain,” the release continued. “All of Cettire’s suppliers source products directly from luxury brands and are a core part of brands’ distribution channels. All of Cettire’s supply arrangements are individually underpinned by legal contracts which contain strict and enforceable contractual terms, ensuring all goods sold via Cettire are genuine. In Cettire’s business model, the supplier assumes the risk on a product return. Moreover, if a supplier became known as participating in non-genuine products, that supplier would risk severe reputational exposure in the supply chain.”

The statement goes on to claim there are multiple layers of governance in Cettire’s supply relationships, and all of its suppliers source products directly from luxury brands and are a core part of brands’ distribution channels. 

This is not the first time the luxury goods marketplace has come under fire from the media. In March, the Australian Financial Review alleged it was dodging duty and tax payments, and while the company released a statement in response explaining their processes – the scrutiny remained with shares sliding 30 percent following the release of the articles. 

About the Author: Rosalea Catterson

Rosalea is the Editor of Power Retail. With a keen interest in consumer behaviour and tech, she covers everything ecommerce and hosts the Power Retail Power Talks Podcast.

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