Mytheresa, one of the world’s largest online multi-brand luxury retailers, has confirmed its plans to expand its business in the Middle East by launching a digital platform in Saudi Arabia.
Mytheresa CEO, Michael Kliger, said the Saudi market was the crucial destination in the Middle East owing to its size and the country’s ambitious development plans.
In an interview with Asharq Al-Awsat, Mr Kliger noted that the company’s bold goal for this year was to become the best digital platform for luxury in the world while providing the best selection and marketing services.
Mt Kliger underscored that the rapid development taking place in the Saudi market is pivotal for Mytheresa’s flourishing. While online shopping took a while to catch on in the region, now it is growing by leaps and bounds with the multiplicity of exhibitions, the CEO said,
Mytheresa’s business has soared by 55 per cent in Europe and 45 per cent across North America, the Middle East and the Asia Pacific region, he said.
Mr Kliger said the company’s prosperity is largely thanks to the consumers’ shift to purchasing through digital platforms.
Illustrating the point, a report by consulting firm Bain and Company revealed that a whopping 70 per cent of high-net-worth GCC individuals are now comfortable with online shopping, despite their traditional preference for in-store shopping.
However, there is still room for improvement when it comes to providing a great service, Mr Kliger said.
In this vein, the CEO remarked that the company saw a 20 per cent growth in terms of qualifying creative employees in the digital field.
Mr Kliger also stressed that the major challenge consists in securing talented people who are trained and taught to maximise well-being.
The CEO told Asharq Al-Awsat that the main ingredients of their success are gifted, qualified and highly-motivated staff employees on the website and the trust that the company has earned with more than 200 international brands.
“The second success factor is our partnerships with luxury brands, and thus the ability to obtain exclusivity, due to mutual trust,” added Mr Kliger.
Mytheresa first launched a website for its customers from the Middle East back in 2013. The launch followed the site’s ongoing global strategy that first initiated in late 2013, which aimed to provide more tailored services to its customers abroad.
Established in 2006, Mytheresa is an e-commerce platform for children’s, men’s and women’s luxury fashion and lifestyle design, headquartered in Munich, Germany. The company has global offices in New York, London, Milan, Barcelona and Shanghai.