[EN] Michael Kliger | CEO of Mytheresa : Achieving a Billion in Revenue While Staying Profitable in Luxury Online Retail

TheBoldWay (ex EDLM)

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Today, I invite you to meet Michael Kliger, CEO of Mytheresa. Before joining Mytheresa in 2015, Kliger worked in retail and digital for over 20 years, with experiences at eBay (as the international vice president of eBay Enterprise), as managing director at Accenture, and as the partner in charge of German retail at McKinsey & Partner.

Under his leadership, Mytheresa has become a leader in luxury fashion and has rapidly expanded — launching sites in the Middle East, Korea, and China while adding categories including children's clothing, menswear, and home goods.

Mytheresa has experienced profitable growth by focusing its efforts on targeting top-spending clients who are less motivated by discounts. Kliger led the company through a successful IPO on the New York Stock Exchange that valued the company at $2.3 billion. The e-tailer now ships to over 130 countries.

In this episode, Michael introduces us to the origins of Mytheresa, which started as a shop in Munich. He also explains how the company decided to meet the emotional needs of consumers by offering them inspiration and exclusivity.

We also discuss the challenges related to managing growth, the importance of maintaining a rigorous selection, and Mytheresa's commitment to sustainable development. This conversation with Michael highlights the importance of passion, hard work, and quick decision-making in advancing a company.

What you will learn :

00:02:05 - Who is Michael Kliger
00:03:40 - Emotional and universal benefits of Fashion
00:07:00 - The genesis of MyTheresa
00:10:20 - His vision when he took MyTheresa in 2015
00:14:01 - The different milestones of MyTheresa
00:16:47 - Scaling Mytheresa Globally
00:24:15 - Customer-Centric Business Strategy and Expansion
00:31:07 - The potential scale of the luxury business
00:32:29 - What makes MyTheresa different from the others
00:35:35 - Orchestration of new products
00:38:30 - Curation of brands
00:45:25 - The most difficult thing for him
00:47:54 - How he manages MyTheresa
00:51:09 - How to take tough decisions
00:56:57 - Sustainability Strategies at Mytheresa
01:01:31 - Going Public on NYSE
00:03:41 - Who he would like to hear in this podcast

➜ TheBoldWay Newsletter : https://www.theboldway.fr/newsletter

Nb: TheBoldWay ou The Bold Way, anciennement connu sous le nom de Entreprendre dans la mode ou EDLM , est un podcast produit et réalisé par Adrien Garcia.