Mytheresa CEO on China Expansion Plans

The video discusses the rebound in Chinese luxury consumption, highlighting the resilience of high-end spending and the role of experiences in driving purchases. It explores the concept of revenge consumption and its sustainability, drawing parallels with the US market. The focus shifts to My Teresa's business performance in China, including expansion plans and collaborations with local designers. Challenges in servicing Chinese luxury consumers through a cross-border model are addressed, emphasizing the importance of local engagement and the growing online luxury market.

What is one of the key drivers for the rebound in luxury consumption among Chinese consumers?

• Government subsidies

• Increased online shopping

• Lower luxury taxes

• Occasions like travel and social events

How does the concept of 'revenge consumption' relate to consumer behavior?

• It is a strategy used by brands to increase sales.

• It refers to consumers avoiding luxury purchases.

• It describes a temporary spike in spending after restrictions are lifted.

• It indicates a decline in consumer interest in luxury goods.

What aspect of luxury consumption has become more important post-COVID-19?

• Focusing on sustainable luxury brands

• Buying luxury items as investments

• The experience associated with luxury purchases

• Owning multiple luxury items

How is My Teresa enhancing its engagement with Chinese consumers?

• By organizing local events and collaborations with designers

• By reducing prices significantly

• By offering exclusive online discounts

• By opening more physical stores

What challenge does My Teresa face with its cross-border model in China?

• Lack of product variety

• Long shipping times from Europe

• Limited online presence

• High import taxes

What is My Teresa's strategy to meet the high expectations of Chinese luxury consumers?

• Focusing solely on online sales

• Expanding into other Asian markets

• Providing exclusive products and local customer service

• Offering discounts on all products

What trend is expected to continue in the luxury market according to the transcript?

• Stagnation of luxury brand growth

• Rise in the online share of luxury sales

• Decline in consumer interest in luxury experiences

• Decrease in online luxury sales