A luxury Australian retailer will hold a massive 80 per cent off sale after it announced its operations will cease after over a decade in business.
Cosette, which sells pre-owned and authenticated luxury items at a discounted cost, made the shock announcement on social media and its website.
‘For more than 11 years, Cosette has been proud to offer our customers access to some of the most sought-after pieces at significant savings,’ the statement said.
‘Unfortunately, the market has changed and we – rather than our mission to make luxury more affordable, every day – were sometimes the story.
‘So, after careful consideration, we have made the decision to close the Sydney warehouse and operations in the near future.
‘Our heartfelt thanks for your support and being part of Cosette over the years.’
The company is not going into administration or liquidation.
Customers can shop brands such as Balenciaga, Valentino, Chloe, Celine, Prada, Burberry, Gucci and Saint Laurent for up to 80 per cent off.
A luxury Australian retailer will hold a massive 80 per cent off sale after it announced operations will cease after over a decade in business
Cosette, which sells pre-owned and authenticated luxury items at a discounted cost, made the shock announcement on social media and its website
The company said there will be limited quantities for a limited time, and all bags are priced to clear and will not be restocked.
Cosette was cleared by NSW Fair Trading in October 2024 after an investigation found there was no evidence to support 1,000 claims it had sold fake handbags.
NSW Fair Trading confirmed at the time that over 1000 complaints were thrown out after working directly with European luxury brands to test the authenticity of the items.
Those brands included Prada, Saint Laurent, Gucci, Burberry and Balenciaga.
Cosette had consistently denied claims it sold fake designer products.
‘Our investigation found no evidence to support allegations that the designer handbags sold by Cosette are fake – each item was tested and verified as authentic by the brand,’ a NSW Fair Trading spokesperson told Daily Mail Australia.
‘In some instances, the luxury brand confirmed the authenticity of handbags that multiple online authenticators had advised customers were fake.’
The regulatory body warned customers to be wary of online authenticators.
‘The investigation highlights that there are significant issues with the accuracy and reliability of online authenticators, who use AI and algorithms to provide authentications,’ the spokesperson said.
The clearing of Cosette’s name comes as a customer’s claim against the company was thrown out at a separate tribunal in 2024.
Cosette was taken to the NSW Civil and Administrative Tribunal (NCAT) by customer Yi Feng Percival who was granted a refund for a Saint Laurent Lou camera bag.
The NCAT had initially ruled that an authenticator had deemed the bag – which retailed for $2,550 – in Australia was a fake.
But Cosette successfully appealed the decision and the customer was ordered to return the refund to the luxury brand.
