Ann: H1 FY24 Appendix 4D and Financial Report, page-102

yeah right dips&%t ... do some research ... i have

At its core, the Cettire technology platform has been developed to operate in an automated way from the business's inception. Initially Dean built the business with no capital so the business needed to operate in a highly automated way. He has also approached this business model as a software engineer vs approaching the business model as a fashion designer. This business is a tech play not a retail play!

The Cettire technology stack is now entirely proprietary across the end-to-end customer journey migrating from a shopify storefront to a custom-built storefront several years ago. The business key systems and workflows into their suppliers are automated and proprietary. This compares to Farfetch for example whose technology platform was built and architected in 2007, and now in need of a major upgrade. The essential difference in cost structure between the two businesses comes from the technological capability of each business.

Further if Fartech and others though they could sell product without the intensive Capex they would do it, however, it is difficult to reverse course once you have committed to the multi-million-dollar investments in infrastructure and systems they did years ago. Cettire's technology capability results in the business not only requiring zero inventory but also requiring very minimal labor intervention for day-to-day operations. It has been built with the intention to acquire large volumes of customers, process and fulfil large order volumes and integrate, maintain, and manipulate large data sets of products from suppliers with very high automation. Cettire's employees are primarily software engineers. They have the lowest cost to fill an order in the industry.

Their software engineers develop the technology platform for marketing, pricing, product and inventory mgt and then finally customer order fulfilment and delivery. AI is being utilised to ensure these workflows are truly world class. Dynamic Pricing models are being utilised to attract customers yet also get attractive prices for Cettire. Their customer fulfilment processes and systems integrate directly into their suppliers ERP systems (something that provides stickiness with suppliers).

With regard to China, the key milestone in turning on this exciting new market is the development of the technology stack specifically for China ... it is that key to what they do.

So yes @Nikkimarie their technology platform is key to their competitive advantage and one of the reasons they have grown so quickly - bit more than just a "shopify"