Mytheresa North America president Heather Kaminetsky: ‘I feel for younger digital businesses’
Mar 13, 2024
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Heather Kaminetsky from Mytheresa discusses driving U.S. sales growth and attracting top-spending consumers. The podcast covers luxury wardrobe building, home decor expansion, e-commerce challenges, innovative marketing strategies, luxury partnerships, and fashion trends like fringe.
Mytheresa focuses on wardrobe-building consumers by curating luxury fashion items from top brands, attracting top-spending consumers.
Mytheresa introduced a successful home decor category in response to consumer demand, extending its luxury curation beyond fashion items.
Deep dives
Success Strategy of My Theresa: Consistency and Focus on Luxury Fashion
My Theresa's success in driving U.S. sales and attracting top-spending consumers stems from a consistent strategy focused on wardrobe-building consumers with a strong point of view. By curating luxury fashion items from around 250 top brands head-to-toe, including ready-to-wear, accessories, shoes, and bags, My Theresa differentiates itself. The strategic approach includes adding or removing brands to maintain a strong point of view and appeals to consumers seeking exclusivity.
Expansion into Home Decor with Life Category
My Theresa's venture into home decor was prompted by consumer demand to extend its luxury curation to home items. The Life category, launched in May, caters to customers looking for fashion label-inspired home decor. With a focus on tabletop offerings, the home decor category has been well-received, indicating potential growth and demand globally.
Building Client Community through Personal Experiences
My Theresa's emphasis on creating client experiences beyond traditional loyalty programs sets it apart. By offering exclusive events, brand collaborations, and unique activations, the company cultivates a community among its clients, fostering connections beyond shopping. This approach not only enhances customer engagement but also contributes to brand loyalty and advocacy, creating a distinct niche in the luxury e-commerce landscape.
Among luxury e-commerce players, which have experienced shakeups and declining sales over the last year, Germany-based Mytheresa has proven an exception — and its U.S. business is driving much of that success.
On the latest Glossy Podcast, Heather Kaminetsky, president of Mytheresa North America, discusses what's driving U.S. sales, which increased 17% year-over-year in the company's most recently reported quarter. She also discusses how Mytheresa is attracting top-spending U.S. consumers — the number of those fitting the bill increased by 48% between September and December.
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