Mytheresa launches Life, a luxury home decor and lifestyle category – WWD

LONDON – After years of evoking the fantasy of luxury with sizzling trunk shows and events around the world, Mytheresa is launching a new lifestyle category with products that reflect its aesthetic and meet evolving customer needs.

On Wednesday, Mytheresa will launch Life, a new category that will partner with women’s, men’s and children’s clothing and encompass “all aspects of the luxury lifestyle”, including furniture, lighting, textiles, tableware, decorative items, pets and travel accessories.

The only thing it won’t carry – for now – are large pieces like beds and sofas.

In an interview, Mytheresa CEO Michael Kliger said the company sees huge potential in the home and lifestyle category and believes there is pent-up demand among its customers for more than just cashmere blankets, cushions and scented candles.

“People who like to dress in nice things tend to be the same people who want to surround themselves with nice things. This new category is for our owner and even multi-owner customers. It’s customer-centric , inspiring and very exciting for us. It’s a big step,” said Kliger.

Mytheresa will organize the offering and handle sales on the site, but will leave fulfillment and delivery to the 60 brands it has taken on board.

The retailer works with a variety of brands from the fashion, interior and furniture worlds for life. They range from Loro Piana, Missoni and Aquazzura to Vitra, Fornasetti and Cassina, including Ginori 1735, Serax and Zaha Hadid.

Mytheresa has already launched pet accessories and is also adding travel to the Life offering. Luxury luggage is in demand again now that lockdowns have been lifted and customers are “on the go again”, Kliger said.

He believes the wide range of products will appeal to Mytheresa audiences and in a bid to further engage customers, the site will also create new content, with editorial features, brand experiences, special campaigns, events, music and podcast projects.

Tiffany Hsu, VP Womenswear & Kidswear Fashion Buying, will lead the overall category and Mytheresa has assembled a dedicated buying team.

Prices will range from £250 to £1,500, in line with Mytheresa’s fashion offering and its high-spending audience.

The best customers of the site have an average basket of 1,000 euros and their annual expenditure is 16,000 euros. They represent approximately 3% of Mytheresa’s clientele and generate a third of total turnover.

Mytheresa will also do pre-launch and exclusive capsules for certain brands, as it does with fashion.

A look at Mytheresa’s new Life line.
Courtesy of Mytheresa

Earlier this month, Mytheresa launched Camille Miceli’s first designs for Pucci, and Kliger told WWD the plan was to “create experiences and produce content” around the brand.

Recently, Mytheresa produced special capsules with Dries Van Noten and also tested the beauty category, creating a digital pop-up with Sisley.

As with fashion, Kliger said Mytheresa wants to inspire customers. With Life, he also wants to give them “a little direction” because lifestyle can be a tricky category.

“Have you ever bought tableware?” asked Kliger.

“It can be overwhelming, so it’s important to have someone there who can give you some direction and inspiration,” Kliger said, adding that this month’s launch is just the beginning and the plan is to add more products and brands.

Asked how big the lifestyle category could grow, Kliger said customers would decide. He also noted that most department stores have dedicated areas for housewares and furniture, and that Harrods in particular has a “significant” home department.

Like department stores and online retailers, Mytheresa is tapping into the seemingly unstoppable boom in home decor and lifestyle categories that have surged in popularity during lockdown, with people working, exercising, cooking and entertaining under one roof.

A look at Mytheresa's new Life line.

A look at Mytheresa’s new Life line.
Courtesy of Mytheresa

During the pandemic, sites like Matchesfashion expanded their home offerings, while designers and brand owners like JJ Martin, Martina Mondadori and Anissa Kermiche all started creating or adding home items to their brands. and businesses.

Net-a-porter recently expanded its homeware offering, adding works of art. It entered the business thanks to a partnership with the e-commerce platform AP8. Fashion brands such as Versace, Missoni, Fendi and Dior have increased their homeware and furniture offerings in recent years.

Earlier this month, Artemest, a platform that connects Italian artisans and furniture makers with consumers and interior designers, secured €15 million in a funding round led by Iris ventures.

The launch of Life is part of a broader strategy by Mytheresa to satisfy its loyal and high-end clientele and to forge close ties with luxury brands.

Mytheresa is proud of its positioning and has always favored targeted and profitable growth at scale.

Last week, Kliger told analysts he believed Mytheresa was well positioned for growth.

“We are very confident in our business model and demand continues to come back as the world – hopefully and permanently – returns to normal,” Kliger said after the third quarter results were presented last week.

For the full fiscal year ending June 30, the company said it expects to achieve its previously disclosed guidance at the low end of the given ranges, with GMV between 755 and 775 million euros, representing growth of 23 to 26%; net sales of between 700 million euros and 720 million euros, and an adjusted profit before interest, taxes, depreciation and amortization margin of around 9 to 10%.

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