Even Cettire bulls have doubts about the stock
It's being described as the biggest battleground stock on the ASX. But whether Cettire is the next Afterpay or destined to disappoint depends on who in the market you listen to.
Online luxury goods platform Cettire is, as one fund manager described it, Australia’s new battleground stock. But even some investors who have made tidy returns from owning it admit to lingering scepticism about its stunning success.
With its largest rival Farfetch only months ago rescued from insolvency by South Korean retailer Coupang, Cettire has faced growing doubts over how it has managed to maintain its fast growth trajectory.
The company, which remains tight-lipped about how it acquires its products or how its profit line breaks down, has been one of the best performers for Wilson Asset Management which holds a small position.
Lead portfolio manager Oscar Oberg said there are plenty of reasons to be positive on the stock but that Cettire remains “a hard company to get our heads around”.
