Latest news with #Cettire
AU Financial Review
31-07-2025
- Business
- AU Financial Review
Cettire shares dive after Trump expands duties on cheap imports
The business model of Cettire, a luxury online retailer selling high-end fashion and accessories, is under threat after US President Donald Trump extended the suspension of the duty-free threshold for low-value goods coming into the country. Trump's executive order on Thursday means that shipments worth under $US800 ($1240) will be subject to duties on importation into the United States, regardless of manufacturing origin. Shipments to the United States represent about 40 per cent of Cettire's gross revenues.
Perth Now
31-07-2025
- Business
- Perth Now
Australian shares slide as tariff shockwaves hit copper
The local share market has slipped from near-record levels as copper prices plunge following a surprise US tariff decision. At noon on Thursday the benchmark S&P/ASX200 index was down 22.8 points, or 0.26 per cent, to 8,733.6, while the broader All Ordinaries had fallen 25.5 points, or 0.28 per cent, to 8,990.2. Eight of the ASX's 11 sectors were lower at midday and just three were higher, but the heavyweight mining sector had fallen 2.3 per cent, dragging down the market. Copper prices suffered their biggest one-day loss ever, falling by 20 per cent after the Trump administration said a 50 per cent copper tariff that comes into effect on Friday would only apply to semi-finished products such as copper pipes and wires, and not the sheets of refined copper known as cathode. Traders had bet the tariffs would apply to all refined copper products, creating a race to ship cathode into the US and build huge stockpiles, sending the US price of the red metal significantly higher than global benchmarks. As that trade unwound on Thursday, BHP fell 2.3 per cent and Rio Tinto dropped 2.7 per cent while one of the ASX's biggest copper-focused miners, Sandfire Resources, fell 3.5 per cent. Non-copper miners were also deep in the red, with goldminer Evolution falling 3.6 per cent, lithium miner Pilbara retreating 6.2 per cent and Nickel Industries dropping 2.3 per cent. The tariff news overshadowed a number of other items affecting Australian traders' sentiment, including the Federal Reserve leaving interest rates on hold, better-than-expected domestic retail sales for June and solid earnings from Meta and Microsoft. In the consumer discretionary sector, Cettire was also reeling from US tariffs after President Donald Trump issued an executive order revoking a duty-free exception for low-value imports into the US. Shares in the luxury clothing dropshipper plunged 19.1 per cent per cent to a six-month low of 27.5 cents as Cettire said such imports, with a value below $US800, represented about 40 per cent of its revenue in recent months. Elsewhere in the sector, Flight Centre had fallen close to its lowest level since the pandemic, dropping 8.5 per cent to $11.79, after the online travel agency said it would not meet its already-downgraded profit guidance. The June quarter had been extremely challenging for its leisure business as tourists stayed away from the US and fighting in the Middle East kept travellers close to home, Flight Centre said. In the financial sector, the big four banks were higher, with CBA up 0.2 per cent, Westpac and NAB adding 0.5 per cent and ANZ rising 0.3 per cent. The Australian dollar was buying 64.51 US cents, from 65.12 US cents on Wednesday's ASX close.
AU Financial Review
31-07-2025
- Business
- AU Financial Review
Retail sales surge; Trump tanks Cettire shares; ANZ's top brass cull
Want to get this in your inbox at lunchtime every weekday? Financial Review subscribers can sign up for The Brief newsletter here. Plus start your day with our Before the Bell newsletter and read a full wrap of the day's news in Market Wrap. In today's news, Australian retail sales smash forecasts, Cettire's shares tank after Donald Trump expands duties on cheap imports, and ANZ's McKinsey review targets top brass.
Vogue Singapore
01-07-2025
- Entertainment
- Vogue Singapore
Here's how to style your swimwear this summer the Vogue way
Courtesy of The Mega Agency If you're in a Mamma Mia! state of mind—think twinkling blue waters, tousled beach hair, and chilled proseccos under the sun—then you're not alone. Whether it's a hidden beach in Capri or a yacht cruising along the Amalfi coast, the fantasy is vivid: days that melt into golden sunsets, a sun-kissed glow, and the perfect beach wardrobe to accompany all your summer adventures. But once you've found the perfect body armour deemed necessary for a 'hot girl summer', the question remains—how do you make your swimwear look good outside the clear blue waters? The answer: the right cover-ups. It's not just about what swimsuit you wear, but how you wear it. Do you keep things simple or playful? Minimal or layered? From breezy sarongs and oversized linen shirts to statement jewellery and chic scarves, the right styling can take your beachside fashion to a whole new level. Take a leaf from the book of the ones who do it best—aka our favourite celebrities. Because the unanimous verdict is: they're doing summer right. Like Bella Hadid's now iconic baggy jeans cover-up, think a basic black bikini top paired with baggy low-rise jeans and a silk headscarf—the right amount of cool for her time under the sun. And just when we thought we'd seen it all, Kylie Jenner stepped out in Venice for a pool day and gave us something entirely new to be obsessed with. And obsessed we are. Spotted at Jeff Bezos's and Lauren Sánchez's high-profile wedding, the reality TV star turned heads in a black latex string bikini styled with a matching crochet pencil skirt. Below, find Vogue Singapore's guide to taking your swimwear beyond the waters. @lalalisa_m 1 / 24 Sheer bliss A sheer dress is a must-have for a beach vacay, plus you can take it up a notch by pairing it with a bright coloured bikini for a pop of colour just like Lisa here. Courtesy of Cettire 2 / 24 Sheer bliss: Jean Paul Gaultier Marinère Mesh Striped Mini Dress, $475 Available at Cettire. Courtesy of Farfetch 3 / 24 Sheer bliss: Oséree Crystal-Embellished Bikini, $623 Available at Farfetch. Courtesy of Mytheresa 4 / 24 Sheer bliss: Celine Eyewear Triomphe Oval Sunglasses, $353 Available at Mytheresa. Courtesy of Net-a-porter 5 / 24 Sheer bliss: Loewe Paula's Ibiza Ola embellished Leather-Trimmed Raffia Shoulder Bag, $3,325 Available at Net-a-porter. Courtesy of Selfridges 6 / 24 Sheer bliss: Monica Vinader Deia 18ct Yellow Gold-Plated Vermeil Silver Earrings, $340 Available at Selfridges. @sophiagrainge 7 / 24 Breezy caftan If you've got a dinner by the beach lined up, follow Sofia Richie's lead and slip into a flowy caftan. Courtesy of NextSG 8 / 24 Breezy Caftan: Reiss Black/Cream Rae Colourblock Maxi, $656 Available at NextSG. Courtesy of Selfridges 9 / 24 Breezy Caftan: Hunza G Jean Striped Bikini Set, $295 Available at Selfridges. Courtesy of Mytheresa 10 / 24 Breezy Caftan: Jimmy Choo Bon Bon Small Embellished Raffia Tote Bag, $1,595 Available at Mytheresa. Courtesy of Selfridges 11 / 24 Breezy Caftan: Oma The Label Klassik 18ct Yellow Gold-Plated Brass Necklace, $108 Available at Selfridges. Courtesy of Farfetch 12 / 24 Breezy Caftan: Tory Burch Mini Miller Flip-Flops, $2 Available at Farfetch. @kyliejenner 13 / 24 Go full crochet When all else fails, you can count on crochet to hit the mark—just as Kylie Jenner does for a lazy pool day under the Venice sun. Courtesy of Mytheresa 14 / 24 Go full crochet: Anna Kosturova Crochet Cotton Bandeau Bikini Top, $108 Available at Mytheresa. Courtesy of Selfridges 15 / 24 Go full crochet: Claudie Pierlot Straight-Fit Sequin-Embellished Crochet-Knit Midi Skirt, $383 Available at Selfridges. Courtesy of Farfetch 16 / 24 Go full crochet: DeMellier The Maxi Santorini Raffia Tote Bag, $587 Available at Farfetch. Courtesy of Net-a-porter 17 / 24 Go full crochet: Fendi Rimless Oval-Frame Crystal-Embellished Gold-Tone Sunglasses, $715 Available at Net-a-porter. Courtesy of Mytheresa 18 / 24 Go full crochet: Kinto Leather Thong Sandals, $235 Available at Mytheresa. Courtesy of The Mega Agency 19 / 24 Denim core You don't need a sarong or a flowy dress as a beach cover-up if you own a pair of trusted baggy jeans. Take cues from Bella Hadid herself, who shows off her high-cut bikini bottoms with a pair of baggy low-rise jeans without forgetting to accessorise the look with a chic scarf. Courtesy of Farfetch 20 / 24 Denim Core: Amir Slama Bikini Set, $224 Available at Farfetch. Courtesy of Mytheresa 21 / 24 Denim Core: Citizens of Humanity Brynn Low-Rise Wide-Leg Jeans, $444 Available at Mytheresa. Courtesy of Cettire 22 / 24 Denim Core: Etro Etro Paisley Printed Scarf, $305 Available at Cettire. Courtesy of Net-a-porter 23 / 24 Denim Core: Chloé Woody Textured-Leather Tote, $2,758 Available at Net-a-porter. Courtesy of Selfridges 24 / 24 Denim Core: Nike Air Force 1 '07 Low-Top Leather Trainers, $183 Available at Selfridges.
Yahoo
23-06-2025
- Business
- Yahoo
Trump slump smashes major Aussie company
A brutal two-punch combo of Trump tariffs and inflation shocks is crushing the stock prices of major Australian fashion retailers, with luxury brand Cettire leading the dramatic slump. The company started off the year with a market capitalisation of nearly $600m, but a precipitous 81 per cent decline in its share price since January 2 value means it is now worth just $115m. Moomoo market strategist Jessica Amir warned 'serious alarm bells' were ringing about the survival of the company, which sells high-end products worldwide through its online platform. 'It's safe to say there are some serious questions about a potential receivership,' she said. In a trading update from June 12, Cettire announced just $500,000 in earnings for the financial year ending May 31, though sales revenues lifted 1.7 per cent to $693.8m. The company now has $45m left in cash, down from $79m in March. Cettire founder and CEO Dean Mintz blamed trade uncertainty around US tariff policy in part for the difficult trading environment. 'Recent results from luxury industry participants point to continued challenges in the sector, amplified by trade uncertainty surrounding US tariff policy,' he said. 'As a result, elevated promotional activity persists across the market.' While Cettire's share price is tanking, there are avenues the company could pursue to avoid any fall into administration, for example a capital raise or taking on a new debt facility. It is not the only ASX-listed apparel business to record a disturbing slump in value this year. Footwear retailer Accent Group has slumped 45 per cent, while KMD Brands, which sells the Kathmandu and Rip Curl brands, has tumbled 33 per cent. City Chic has retreated 26 per cent. At the start of the year, KMD was worth about $300m. Now it is worth less than $200m. Some of the retailers point to US President Donald Trump's tariff shock for creating additional challenges in their businesses. In a trading update from June 19, KMD estimated tariffs would strip about $1m in earnings from the company across the 2025 financial year. 'The (company) continues to closely monitor the fluid US tariff situation and it remains too early to estimate the impact on consumer demand in the US,' the company said. 'Given the uncertainty in the US market, agility remains the (company's) main priority heading into 2026.' In an update from May 5, City Chic has warned some 20 per cent of its revenue was generated in the US and 90 per cent of its products were sourced from China, a big target for tariffs. 'Due to the tariff situation and its potential impact on consumer demand, USA sales expectations have been reduced for FY26,' the company said. But global trade chaos is not the only pressure mounting on fashion stocks, Ms Amir cautioned. Rising oil and electricity prices are also eating away at consumer spending power. 'The things we're paying every quarter and every month are far higher than they were,' she said. 'Petrol costs are up markedly and that's because the oil price is up. 'It means you've got less money left over to buy things like a luxury designer handbag from Cettire, or that Rip Curl jumper. 'You might want to get out your needle and thread and sow up your Kathmandu. You're not exactly going to go out and buy another one.' The benchmark ASX200, which tracks the 200 largest companies on the Australian stock market, has advanced 3 per cent year-to-date.
