Luxury Sydney retailer Cosette makes shock closure announcement

A luxury Australian retailer will soon close down their operations after more than a decade in the industry.

Sydney retailer Cosette made the shock closure announcement in a brief statement online.

The business is not going into liquidation or administration.

“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.

“In that time, we have proudly served more than 140,000 customers and we are deeply grateful for the trust and loyalty you have shown to us throughout this journey.”

The retailer, which operated a warehouse in Sydney, specialised in selling pre-owned and authenticated luxury handbags and accessories from high-end brands.

In 2024, claims emerged that the retailer was selling fake designer handbags, but Cosette was cleared of the allegations after an investigation found there was no evidence to support them.

A NSW Fair Trading spokesperson said at the time that each item was tested and verified as authentic by the brand, rather than third-party verifiers.

“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 said at the time.

“In some instances, the luxury brand confirmed the authenticity of handbags that multiple online authenticators had advised customers were fake.”

The spokesperson said the Fair Trading investigation “highlights that there are significant issues with the accuracy and reliability of online authenticators”, adding that some rely on “AI and algorithms to provide authentications”.

Following the investigation, Cosette said: “This outcome validates what we have always said and what our customers can attest to - every item sold by Cosette is 100 per cent authentic.”

In their closure announcement, the company seemingly alluded to the disproven allegations and acknowledged the impact it had on the business.

“Unfortunately, the market has changed and we – rather than our mission to make luxury more affordable, every day – were sometimes the story,” the statement read.

”So, after careful consideration, we have made the decision to close our Sydney warehouse and operation in the near future.”

Cosette gave “heartfelt thanks” to customers and supporters over the 11 years.

“Whlie saying farewell is always sad, we hope that we have been able to share some treasured bags that brought you much joy,” the business wrote.

The business’ final day of operation is unconfirmed, but shoppers will be able to get up to 80 per cent off existing stock prior to its closure.