TM

[TM @pathinonu]

you can also add @CHANEL to the list of major brands that have stopped Cettire from selling their products, though it was only Chanel eyewear.

[TM @pathinonu]

OK, I'm reloaded #Cettire $CTT.AX https://t.co/QnNu2upsYp

[TM @pathinonu]

👀

[TM @pathinonu]

@SharogradskyM @Quokkkka1 @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 Tax does not get “added back” in the US, their largest market. Because they have to collect GST, they don’t sell that much to Australia.

[TM @pathinonu]

@SharogradskyM @Quokkkka1 @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 What you are both discussing is GST, not VAT, and if something gets “added back” it depends on the destination country. If you are in the US, you may pay duties/taxes/brokerage fees, but not if the shipment value is under 800 usd

[TM @pathinonu]

@Quokkkka1 @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 @SharogradskyM GST is different from VAT mate

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 I'm totally OK with pros holding the bag when $CTT goes down, but you spoke to the commercial director of the EU division whose background is in wholesale, and because of where the products are priced is not really affected by CTT. I don't think CTT sells much BBC anyways.

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 Have you guys talked to any brand owners, or anyone else in the fashion industry? This field is my bread and butter and I know it very well, and it bothered me that I had never heard of Cettire. No one I know at major brands in the US or EU had heard of Cettire.

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 I'm not an investor here, and he seems like a grifter to me - I don't think he'll want to speak to me and I'm not sure how productive it would be. I feel bad for retail investors who he has misled, and I simply want to apply more scrutiny to their business and others like them.

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 One more thing- If Cettire's prospectus was accurate, and they're mostly selling handbags and shoes, I don't think it's the unpopular ones they are selling. There's no way they could have grown that much in 2020 if that was the case.

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 Then they still misled investors in their prospectus. I also doubt they are actually doing this.

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 CTT went public because they capitalized on brands being distracted by the pandemic. No brand owners I've spoken too are happy about CTT, and these retailers probably aren't going to last if they have to rely on a partner like CTT too

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 3/ C'mon man - Boss/Asos are not relevant to this conversation at all. Asos is a totally different type of business. Just because they are clothes and they're being sold online, it is not the same thing.

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 1/ Yes - brands that don't set minimum order requirements at a realistic level means stores will turn to the gray market, but when the gray market goes online and starts causing channel conflicts, that's not good for the brands and it's not going to be good for the retailers/CTT

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 3/ That's not to remove the responsibility from the brands too - they also created an environment where a gray market player like Cettire could emerge. There are a lot of aspects related to this issue that need to be addressed.

[TM @pathinonu]

@SharogradskyM @AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 2/ That "not popular product" should be sold at the end of the season, or the store should consider their business model if they're taking on too much product. There is probably too many products in our industry to begin with, but Cettire isn't the best answer for this.

[TM @pathinonu]

@AboveAvgOdds @mamos20 @Alonzo_CTHG @puppyeh1 @SharogradskyM it sounds like you didn't read this, which I linked to in my medium post - brands haven't managed to take out italist yet, due to focus/priorities/ but can you imagine if a grey market seller went public? someone is going to make an example of them https://t.co/jSX8PJaHnS