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After being thwarted in China during the covid episode, the German platform is back full of ambitions in this major luxury market. Among its weapons: an ultra-luxury positioning, events including local players, and an alliance with JD. Com.
Mytheresa wants to seduce the big Chinese luxury consumers.
The German online retailer of luxury goods intends to boost its presence in the Chinese market.
“The company has grown by more than 20% in recent years, and we expect to grow twice as much in China in the coming years,” said CEO Michael Kliger in Shanghai to Reuters.
The recent Dior Beauty affair demonstrated that MyTheresa has not failed to play the national pride card in this highly sensitive market.
On April 18, the site organized an event in Shanghai to launch the “China Designer Program,” a support program for young Chinese designers. Susan Fang, Didu, Jacques Wei, and Xu Zhi were selected by a jury of professionals, including Ye Ming Zi, founder of Phi Digital Art and Mytheresa’s brand ambassador, Chuxuan Feng, editor-in-chief of Huasheng Media Group, stylist-influencer Fil Xiao Bai and Tiffany Hsu, Mytheresa’s vice president of women’s and children’s apparel purchasing.
Exclusive capsules
The four winners created exclusive capsules for Mytheresa, highlighted by a campaign produced by T Magazine China with photographer Liang Zi and models Ci Ci Xiang and Emma Bei Pei.
This lever towards notoriety should be powerful thanks to Mytheresa’s two million followers on Instagram, the exclusive partnership with T Magazine China, and collaborations with influencers. This should also stimulate the buzz around Mytheresa in the Middle Kingdom…
And the CEO of Mytheresa, Michael Kliger, does not intend to stop there. He told Reuters that he wants to multiply the events to boost the purchase intentions of Chinese luxury consumers, especially the most “mature.” In other words, the most expensive. Knowing that, according to him, 3% of the most important customers of Mytheresa would weigh 35% of total sales … First-time buyers in the luxury sector are not, however, a priority target for the platform.
Fierce competition
To achieve its goals, Mytheresa will face fierce competition from players better established than it in the Chinese market, such as Farfetch or Yoox Net-a-Porter. In order to break through, both have joined forces with local online retail champion Alibaba through investment or joint venture agreements.
Mytheresa had initially chosen to go it alone, setting up a local Chinese company in 2017. But the pandemic thwarted its plans, forcing it to change its strategy. As of March 2022, the German platform is now leveraging the Chinese e-commerce platform JD.com to sell its products. This channel is in addition to its own app and website.
Finally, since last June, the platform has been under the responsibility of a new President for Asia Pacific, Steven Xu. This ex-Ralph Lauren is a good connoisseur of online commerce in the Apac zone, particularly China. An expertise that will be welcome in this juicy but highly coveted market.
Read also > Mytheresa improves and reduces its losses in the third quarter
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After being thwarted in China during the covid episode, the German platform is back full of ambitions in this major luxury market. Among its weapons: an ultra-luxury positioning, events including local players, and an alliance with JD. Com.
Mytheresa wants to seduce the big Chinese luxury consumers.
The German online retailer of luxury goods intends to boost its presence in the Chinese market.
“The company has grown by more than 20% in recent years, and we expect to grow twice as much in China in the coming years,” said CEO Michael Kliger in Shanghai to Reuters.
The recent Dior Beauty affair demonstrated that MyTheresa has not failed to play the national pride card in this highly sensitive market.
On April 18, the site organized an event in Shanghai to launch the “China Designer Program,” a support program for young Chinese designers. Susan Fang, Didu, Jacques Wei, and Xu Zhi were selected by a jury of professionals, including Ye Ming Zi, founder of Phi Digital Art and Mytheresa’s brand ambassador, Chuxuan Feng, editor-in-chief of Huasheng Media Group, stylist-influencer Fil Xiao Bai and Tiffany Hsu, Mytheresa’s vice president of women’s and children’s apparel purchasing.
Exclusive capsules
The four winners created exclusive capsules for Mytheresa, highlighted by a campaign produced by T Magazine China with photographer Liang Zi and models Ci Ci Xiang and Emma Bei Pei.
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After being thwarted in China during the covid episode, the German platform is back full of ambitions in this major luxury market. Among its weapons: an ultra-luxury positioning, events including local players, and an alliance with JD. Com.
Mytheresa wants to seduce the big Chinese luxury consumers.
The German online retailer of luxury goods intends to boost its presence in the Chinese market.
“The company has grown by more than 20% in recent years, and we expect to grow twice as much in China in the coming years,” said CEO Michael Kliger in Shanghai to Reuters.
The recent Dior Beauty affair demonstrated that MyTheresa has not failed to play the national pride card in this highly sensitive market.
On April 18, the site organized an event in Shanghai to launch the “China Designer Program,” a support program for young Chinese designers. Susan Fang, Didu, Jacques Wei, and Xu Zhi were selected by a jury of professionals, including Ye Ming Zi, founder of Phi Digital Art and Mytheresa’s brand ambassador, Chuxuan Feng, editor-in-chief of Huasheng Media Group, stylist-influencer Fil Xiao Bai and Tiffany Hsu, Mytheresa’s vice president of women’s and children’s apparel purchasing.
Exclusive capsules
The four winners created exclusive capsules for Mytheresa, highlighted by a campaign produced by T Magazine China with photographer Liang Zi and models Ci Ci Xiang and Emma Bei Pei.
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