Luxury Sydney retailer Cosette has announced that it will close after 11 years in business.

The announcement, which was shared by the retailer online, also shared that the company will hold an Australian Warehouse Sale to offload remaining stock.

Cosette Announces Closure

Cosette likewise took the opportunity to explain the surprising decision to close its doors for good.

“Unfortunately, the market has changed and we – rather than our mission to make luxury more affordable, every day – were sometimes the story,” the retailer said in its statement. “So, after careful consideration, we have made the decision to close our Sydney warehouse and operations in the near future.”

The retailer has been known for selling pre-owned and authenticated luxury handbags and accessories. However, as news.com.au notes in its report, Cosette was at the center of controversy in 2024 when it was accused of selling fake designer handbags.

Investigations eventually cleared Cosette as it found no evidence to support such claims.

Australian Warehouse Sale

As previously mentioned, Cosette also announced that it will be holding an Australian Warehouse Sale.

The retailer will offer up to 80% off RRP on some luxury brands, such as Saint Laurent, Gucci, Prada and Celine.

There will also be an additional 10% off sitewide, which will be applied at checkout.

“Limited quantities, limited time,” Cosette said in its announcement. “All bags are priced to clear and will not be restocked.”