Luxury e-tailer Reebonz's net loss narrows in H1, to step up focus on marketplace biz

Luxury brands Gucci and Prada displayed on a model. Photo: John Tuesday/Unsplash

US Nasdaq-listed luxury items e-tailer Reebonz Holding Limited (Reebonz) has reported a 29.8 per cent decline in total revenues at $31.1 million during the first half of 2019 ending June 30 compared to the corresponding period last year as lower marketing spend resulted in a decline in the number of buyers.

Net loss for the period, however, improved to $8.90 million in 1H 2019 compared to the net loss in the previous year (1H FY2018) of $21.60 million due to one-time exclusion of convertible preference shares during 1H FY2019.

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