No Adverse Authenticity Findings Against COSETTE

SYDNEY, AUSTRALIA - Media OutReach Newswire - 22 October 2024 - COSETTE, a leading retailer of luxury handbags and accessories, is pleased to announce the conclusion of a comprehensive, year-long investigation by NSW Fair Trading into the authenticity of goods supplied by COSETTE. The investigation has ended with no adverse findings or further action. COSETTE believes this vindicates our repeated statements on the quality and authenticity of goods sold.

These unfounded allegations have had a detrimental impact on our business and, more importantly, our customers, who were wrongly led to believe that some of their products purchased from COSETTE were not genuine. The allegations stemmed from inaccurate and misleading services provided to customers by third-party authenticators. In response to allegations, COSETTE has successfully defended all of the cases it contested in the NSW Civil and Administrative Tribunal (NCAT). In the course of these cases, NCAT found that these authenticators provide "no evidence of specific qualifications, skills or knowledge" in providing their opinion, "do not warrant ... the quality of any services" that they provide, nor are they recognised by the luxury brands that they purport to authenticate.

COSETTE has always been committed to the highest standards of quality and trustworthiness. We source all of our leather goods from Europe and only work with highly reputable suppliers that have a long history of trading in luxury goods. Our approach to authenticity is to trace each good through the supply chain to licensees that have been authorised by the brands to sell the goods. This is the best and only means of being assured of the authenticity and origin of the product. More information on COSETTE's sourcing can be found at COSETTE.com.au/pages/luxury-every-day.

COSETTE's mission remains to make luxury more affordable, every day. We do this by offering a wide range of handbags and accessories from Australia's favourite luxury brands – including handbags from Gucci, Prada, Saint Laurent, Givenchy and Bottega Veneta – at the best price.

COSETTE is able to offer these reduced prices by parallel importing directly from European retailers and suppliers, primarily from Italy. Some of these products may be overstock, but they are always new (never used or pre-owned), authentic and therefore of the highest quality. This direct sourcing means that we are able to share the benefit of any pricing advantage we obtain with Australian customers.

On behalf of COSETTE, spokesperson Don Grover said: "In our near 10 years of operation, COSETTE has served more than 130,000 customers and we look forward to returning our focus to ensuring that our customers have the choice and first-class shopping experience that we have always promised. COSETTE is the best place in Australia to buy genuine luxury goods at the most affordable prices."

More information on COSETTE can be found at COSETTE.com.au or by contacting us at info@COSETTE.com.au.

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The issuer is solely responsible for the content of this announcement.