Mytheresa’s Michael Kliger on competing for luxury shoppers: 'In the end, the customer is the judge'

Luxury fashion has quickly morphed away from Old Hollywood glamour to sneakers and nylon belts. But for online retailer Mytheresa, that air of sophistication and charm is still the heart of its business. "We love the true luxury part of the [fashion] business," said Michael Kliger, CEO of Mytheresa, on this week's Glossy Podcast. "It is by definition a limited set of brands that you could count as luxury." With roots as a boutique in Munich starting in 1987, Mytheresa has evolved alongside changes in luxury, including with its launch of a menswear category in 2020 and the company's IPO in January. Although the retailer maintains a focus on "traditional" luxury brands, like Valentino, Prada and Gucci, as well as occasions, like a "garden party," Mytheresa also carries "cooler, new [brands] like Jacquemus," in response to evolving customer tastes, which accelerated during the pandemic, said Kliger.  In contrast to other luxury retailers, Mytheresa carries fewer than 250 brands, living up to its tagline of, 'The finest edit in luxury fashion." "We always say the journey of our customers starts with an occasion in mind, not with a product in mind," said Kliger. Mytheresa's focus on occasion did not falter during the pandemic, when sales of cashmere, knitwear, sneakers and slide shoes boomed as shoppers traded in galas for the living room couch. And on the other side of luxury, categories like vacation wear, formal dresses and party clothes have rebounded more recently, he said.