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Mytheresa Intends to Expand Business in Saudi Arabia

Mytheresa Intends to Expand Business in Saudi Arabia

Friday, 27 January, 2023 - 11:00
Mytheresa CEO Michael Kliger.

Mytheresa, one of the world’s largest online retailers, intends to expand its business by launching a digital platform in Saudi Arabia.

Mytheresa CEO Michael Kliger said the Saudi market was the most important in the region in terms of size, due to the Kingdom’s development plans.

In an interview with Asharq Al-Awsat, Kliger noted that the company’s plan for 2023 was to become the best digital platform for luxury in the world, while providing the best selection and marketing services.

Kliger pointed to the rapid development taking place in the Saudi market, with the opening of entertainment to the retail sector, saying that the fashion market in the region was achieving remarkable growth with the multiplicity of exhibitions.

The company’s business grew by 55 percent in Europe and 45 percent across North America, the Middle East and Asia Pacific region, he said.

Kliger added that the consumers’ shift to purchasing through digital platforms reflected the success of digital technology.

The main challenges facing the retail sector, he noted, are centered on the ability to continue to provide a great service, indicating that the solution lies in providing qualified and trained cadres.

In this context, he said that the company saw a 20 percent growth in terms of qualifying creative employees in the digital field.

He also stressed that the biggest challenge lied in finding talented people, who are trained and taught to maximize well-being.

On the other hand, Kliger told Asharq Al-Awsat that the secret of success depended on the talented, trained, qualified and motivated staff working on the website, in addition to the trust that the company has enjoyed with more than 200 international brands.

“The second success factor is our partnerships with luxury brands, and thus the ability to obtain exclusivity, due to mutual trust,” he stated.

Mytheresa, the e-commerce platform, was founded in 2006 and is headquartered in Munich, Germany. The company has global offices in New York, London, Milan, Barcelona and Shanghai.

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