Ann: Cettire Confirms China Launch, Provides FY24 Update, page-210

The article I posted was from Bloomberg.

While the excess inventory and downturn may help supply of product in the short term, those brands are saying they aim to reduce wholesale channels and the grey market. Its nice to clear inventory, but its not nice to dillute the brand image and compromise high margin sales. Its about a balance, and it reads as if the pendulum is going to swing back a bit. That is not good for Cettire longer term as it will restrict its growth (less product to put a commision on) and put it more on the radar of the brands.