Insights

The Cettire (ASX:CTT) share price is set to mint a new rich lister

The Cettire share price is set to mint a new young rich lister, after the company’s shares surge to a new all-time high.
The post The Cettire (ASX:CTT) share price is set to mint a new rich lister appeared first on The Motley Fool Australia. –

Luxury online retailer Cettire Ltd (ASX: CTT) has fast become a considerably successful company. After debuting on the ASX in December, the Cettire share price has surged 353%. The company now boasts a market capitalisation of $777 million.

Likely, no one is more excited about the company’s success as founder and CEO, Dean Mintz.

Rich lister in the making

Cettire came to life through an incubator in 2014 and was quickly prioritised as a preferred concept.

Detailed in the prospectus, “Dean identified a market opportunity to build a global online proposition in the personal luxury goods market, a large market characterised by relatively low (but growing) digital adoption, high fragmentation and scope for attractive unit economics.”

The company was officially launched in October of 2017, experiencing substantial growth since. Under the cloak of a ‘luxury goods retailer’, Cettire runs on a proprietary technology platform. One that has been developed to facilitate the entire customer fulfilment cycle, integrate supplier inventory systems, enable dynamic pricing, and harness data-driven marketing decisions.

Boasting a shareholding of 66% of shares on issue, Mr Mintz clearly still believes there’s plenty of runway for the company. The global personal luxury goods industry is estimated to have a total addressable market of $460 billion.

At Friday’s closing Cettire share price of $2.03, Mintz’s stake is worth roughly $510 million. Based on last year’s Australian Financial Review Young Rich list, that would place the Cettire founder in 14th spot – wedged between Envato founder Cyan Ta’eed and Zip Co Ltd (ASX: Z1P) founder Larry Diamond.

Sending the Cettire share price higher

Most recently, the company’s shares have been flying higher following two announcements.

Firstly, Cettire provided a trading update on 3 May for the company’s third quarter FY21. Rapid growth in sales revenue of 331% to $18.5 million for the quarter resulted in an upgrade to FY21 forecasts.

Secondly, the luxury goods retailer announced a partnership with Klarna on Wednesday. Under the deal, Cettire will provide its customers shopping in Australia and the United States with Klarna’s buy now, pay later services.

The Cettire share price finished 9.1% higher on Friday, rising to $2.03 per share. Earlier in the day, the company’s shares hit a new all-time high of $2.13.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

More reading

Why the Afterpay (ASX:APT) share price is up 10% this week
2 highly rated ASX growth shares

Cettire (ASX:CTT) share price jumps 8% on Klarna partnership
Afterpay (ASX:APT) venture fund eyes next investment
A2 Milk and Zip were among the most traded ASX shares last week

The post The Cettire (ASX:CTT) share price is set to mint a new rich lister appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!