AuMake doubles sales revenue
Daigou-focused retailer AuMake has halved its losses after more than doubling its sales revenue in the space of a year.
The company announced a first-half net loss of $2.96 million this Thursday morning, with sales revenue more than doubling to $21.8 million on 30 per cent same-store growth.
The retailer reported that all stores were profitable and owned brand sales were up 424 per cent to $1.40 million.
AuMake’s operating costs for the six months to December 31 represented 31 per cent of sales, higher than 27 per cent from the prior corresponding period, but significantly down from the full-year ratio of 46 per cent.
AuMake estimates the market size for the value of Australian products to China via cross-border retail stores to be in the region of a$1.5-2 billion per annum.