Luxury Australian Retailer Announces Surprising Closure

A significant shift in Australia’s luxury retail landscape is underway as Cosette, a luxury retailer based in Sydney, prepares to close its doors after over a decade of service. The company announced its decision in a surprising statement on its online platform.

Details of the Closure Announcement

The closure comes as a shock to the fashion community, with Cosette emphasizing that it is not entering liquidation or administration. For more than 11 years, the retailer has provided customers with access to high-end pre-owned luxury handbags and accessories at considerable savings. In its statement, the company expressed gratitude for the loyalty of over 140,000 customers.

Background of the Brand

Cosette specialized in authenticating and selling luxury items sourced from prestigious brands. Despite facing allegations of selling counterfeit products in 2024, an investigation confirmed the authenticity of its offerings. A spokesperson for NSW Fair Trading stated that each item sold was tested and verified directly by the brands themselves.

Impact of Allegations

The investigation highlighted issues surrounding the reliability of online authenticators, noting that some rely on artificial intelligence for authentication. Following the results, Cosette reiterated its commitment to authenticity and explained how the negative attention affected its business.

Reasons for Closure

In its closure statement, Cosette acknowledged changing market conditions and noted, “Unfortunately, the market has changed and we… were sometimes the story.” This shift in focus contributed to the decision to close the Sydney operation.

Final Sales and Customer Appreciation

While the exact date of closure has yet to be confirmed, the retailer is offering discounts of up to 80% on existing stock. Cosette extended heartfelt thanks to its customers and supporters, expressing hope that their products brought joy during their years in business.

• Founded: 2012
• Customers Served: Over 140,000
• Closure Announcement: October 2023
• Discounts: Up to 80% off

This closure marks the end of an era for luxury retail in Australia, reflecting the evolving dynamics of consumer preferences and market challenges.