LuxExperience CEO Discusses Resilience and Polarization in Luxury Retail
Michael Kliger, CEO of LuxExperience, highlighted the growing polarization within the luxury retail market. He noted that affluent customers continue to spend heavily while middle-class shoppers are reducing their spending due to inflationary pressures. The company is focusing on its top-tier customer base—accounting for a significant portion of sales rather than total active users—which currently stands at around 900,000. Kliger emphasized that growth in the luxury sector now depends more on increasing high-spending customers and their average spend per capita. At MyTheresa and Net-a-Porter, top customers represent about 4–5% of total users but account for nearly half of sales. These elite customer segments grew by around 9 to 18% in the last quarter while also spending more on average. The CEO expressed confidence that this strategy is driving durable growth and profitability despite a shrinking active user base, positioning LuxExperience as an outlier with strong performance compared to other luxury retailers.
Topics: acquisition integration customer behavior earnings performance luxury retail