About customer experience & business model, page-32

You have totally miss understood why I mentioned Estée Lauder. I was responding to a previous "one post wonder" like your self. That post told me not to dismiss the beauty industry because Estée Lauder was trading at over $250 per share. My response to that poster was meant to highlight the fact that Adore beauty is absolutely nothing like that company and should NOT be mentioned together from an investment standpoint. They're totally different in every facet. Would you like me to explain to you the difference between retailing other peoples products and manufacturing ones own products under a well established world wide recognised brand?

Yes you are correct Adore Beauty on sell Estée Lauder's and many other brands products. They do not have their own brand. They are at the mercy of the brands they sell. If Estée Lauder or any of the other brands decided to withdraw supply to Adore beauty they are left with nothing but free samples and lil treats. That is a hard fact for you! read back through my previous posts they have many facts for you. But here are some fresh ones.

Approximately two years ago. The Hut Group purchased another Australian and NZ based Beauty e-tailer. (If anyone is not familiar with The Hut Group and you are looking at this stock google it right now) The e-trailer that the hut group purchased is called ry.com.au. The hut group purchased 100% of that website which in terms of turn over at the time was conservatively 85% the turn over of Adore. The purchase price of the sale of this website is undisclosed but industry insiders are tipping it was sold for less than 20mil. That I believe gives a good starting point for what an Australian based beauty e-tailer is worth. Let's consider at that time Adore to be worth 30mil. That's 50% more than RY. Then let's assume Adore has experienced huge growth in that two years. After all COVID struck and online selling went through the roof. Let's Assume that Adore grew by 300% from 30 million to 100 million today. Where does the current Market Cap of $628 million come from?

I have previously made comment that it would be very easy to build the same business that Adore is with a budget of 2mil. Perhaps I didn't allow enough for an over the top directors salary, so I'll adjust my figure to 8mil over a two year period. The reason I am so confident of this is because Adore does NOT have any IP. There is nothing that this business is doing or assets in the company that can't be recreated by anyone else at any time.

In a lot of the pre listing PR interviews the Founder of adore was promoting this stock to first time women investors. Her words not mine. Trying to sell the idea that if you're a customer of adore then you must believe it's a good business so please buy my stock. Well I like to eat steak but it doesn't mean I want to buy the slaughter house.

For the record I'm not down ramping I'm not a shorter and I have nothing to gain from this stock going up or down. I just firmly believe there is something fishy going on with this stocks listing price and I want to point out the reasons why I believe this to be the case