Kliger says Mytheresa’s core mission is to serve “the other extreme, those who shop constantly, for whom it’s part of a way of life. Evidenced by the fact that more than 40% of our sales are ready-to-wear. These people are wardrobe builders. And because they buy so often, they’re looking for inspiration. Which brings him to curation, editing and stimulation. By the time our buyers arrive on site, we really try to have the heavy lifting done. »
While Net-a-Porter and Mr Porter sell over 1,200 brands, Matches currently offers around 800 and Farfetch cites “over 1,400”. On the other hand, Kliger resolutely limits the Mytheresa offer to around 250 brands. However, he insists his buying teams, led by Tiffany Hsu, “have complete carte blanche. We say “if you see something you like, buy it”. And then we see how it works… But we have a very high bar: it’s 10 in, then 10 out with us.
The importance of 3%
Kliger reveals that 30% of Mytheresa’s sales are generated by 3% of its customer base. “They have the money, they need the ideas… And, of course, our customers want to be one step ahead, to see what has never been seen before.” These core customers are served by a team of over 60 personal shoppers who manage advanced access to capsules such as the launch of Van Noten – which was preceded by a capsule with Dolce & Gabbana, launched in Miami on April 14 ; and followed by a partnership with Pucci which should drop on Friday April 29th. About 160-200 new articles fall on the site every day.
The US-based personal purchasing team has grown from three people a year ago to 13, reflecting Kliger’s belief that the opportunities in the US are huge. “The United States is the largest luxury online market in the world,” he explains. “Yes, China is the biggest luxury market, but in terms of online penetration, the United States is ahead of China.”
There is more than that. Kliger points out that the US luxury market has been served by department stores with relatively few independent multi-brand stores. “It’s a vast country where customers are very dispersed… It’s not like France, where half the money is in Paris. In the United States, money is everywhere,” he says. “But customers don’t like big stores anymore. I think the department store as a concept doesn’t work except in certain places – Neiman Beverly Hills or Saks Fifth Avenue. And the store in the mall is not working. So it’s a market where the main chain has clear problems – there are no independents and it’s a huge market place online.