Update: Cettire to Expand China Footprint With Planned Launch on TMall Global; Shares Up 15%
(Updates to add stock movement in the headline and last paragraph)Cettire (ASX:CTT) said it will broaden its global footprint through the launch of a flagship store on TMall Global, Alibaba Group's cross-border e-commerce platform, marking its entry into mainland China, according to an Australian bourse filing on May 29 after market hours.The move complements the company's existing presence on JD.com and its direct-to-consumer platform cettire.cn, launched in June 2024, per the filing.The company will continue using its proprietary technology and global supply chain for fulfillment without maintaining local inventory, with the TMall Global launch contingent on completing technology integration expected in the first quarter of fiscal 2027, the filing added.The company's shares jumped around 15% in recent Monday trade.