Mytheresa's CEO Michael Kliger said the wobble in 'aspirational' customers' confidence was temporary.
Mytheresa’s chief executive officersaid the company was happy with the second-quarter growth, adding it was driven by “high-end, wardrobe-building luxury customers” rather than “aspirational, occasional luxury shoppers.”
Kliger said that in the second quarter ready-to-wear, high-end skiwear and fine jewelry sold well “due to the top customers,” while sales of handbags and shoes, key categories for the aspirational client, were less vibrant. For the full fiscal year ending June 30, the company confirmed its previous guidance, although it said the numbers would be at the “lower end of the given range” for the top and bottom line.
Kliger argued that Mytheresa has shown “excellent financial strength and resilience” against a backdrop of economic and geopolitical challenges. “That sets Mytheresa apart from other digital platforms in the same period,” he added. Earlier this month, Mytheresa sought to underline its market position by dropping the word “fashion” from its marketing slogan. On the website, it now describes itself as offering “the finest edit in luxury.”, we’re selling Bang & Olufsen and we want to be ‘the’ destination for luxury,” he said.
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