yep growth phase we won’t see profits until they turn down marketing spend.
Having said they, they have turned down marketing in January and February low season for fashion and they’re still seeing good numbers on their website. Dean suggested the app will be out this quarter so I suggest further marketing costs to launch the app but once customers have the app their marketing costs will fall.
Ann: CTT to Enter Mainland China Market & Partnership with JD.Com, page-51
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