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2 ASX growth shares I’d happily buy in May 2021

May 2021 could be a great time to buy ASX shares that are delivering a lot of growth. Cettire Ltd (ASX:CTT) is growing very quickly.

May 2021 could be a great time to buy ASX shares that are delivering a lot of growth. 

Businesses that are generating strong customer interest and are growing market share have attractive futures, particularly if they have a scalable business model. 

I think that these two ASX shares are interesting and worth a place on a watchlist: 

Cettire Ltd (ASX: CTT) 

Cettire is an online luxury retail business that offers 160,000 products from over 1,000 luxury brands.  

An ASX share can be an attractive long-term proposition if it has a very big total addressable market and it’s growing at a fast rate. 

I think that definitely describes Cettire. It’s a global retailer and it is reporting very impressive growth.  

It’s experiencing strong business momentum and favourable consumer trends. This is driving better than expected operating performance. 

Cettire revealed gross revenue went up 367% to $25.3 million and sales revenue rose 331% to $18.5 million in the third quarter of FY21. The number of orders rose by 437% to 36,455.  

Cettire said that as a result of this strong trading, which has continued through April, and a positive outlook for the remainder of FY21, the board expects the company to exceed its prospectus forecasts and has upgraded FY21 forecasts. 

The sales revenue is now expected to be at least $80 million, compared to the $70 million prospectus forecast.  

Some ASX retail shares are seeing a slowing of growth, even if only because we’re now cycling against strong months a year ago for e-commerce shares.

Cettire is delivering very strong growth and its business model could allow for growing margins whilst delivering the strong top line growth  over time. 

Adore Beauty Group Ltd (ASX: ABY) 

Adore Beauty IPO’d late last year with a lot of excitement. The share price was around $7. But now it’s much lower, despite generating more revenue since then. At a certain point, the share market can become too pessimistic. 

The business released a trading update this week.

In the third quarter of FY21, Adore Beauty reported that revenue was up 47% to $39.4 million. The number of active customers increased by 69% to 687,000 at 31 March 2021. 

Adore Beauty boasted that there has been strong retention and re-engagement rates for new customers acquired during the COVID-19 period. The Adore Beauty Loyalty program launched in March, with sign-ups ahead of expectations. 

Adore Beauty is going to continue a high-growth strategy that will see the EBITDA margin remain low for a longer period of time. But this investment should result in a stronger growth rate and better valuation creation over the longer term.  

The ASX share’s management also talked about adjacency expansion opportunities and private label development. This could lead to higher margins and a bigger addressable market for the company.  

I believe that both of these ASX shares are possible long-term market-beaters with their growth rates and long-term plans. They are among the ASX growth shares that are very interesting to me right now.

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