The CEO of Marais on building Melbourne’s luxury destination for over 20 years

Multi-brand luxury boutique Marais is celebrating two decades in business and serendipitously has marked the occasion with the opening of its second location at QV Melbourne.

While the luxury retail sector at large is struggling to find its feet due to the current economic downturn, Marais is going from strength to strength thanks to its focus on experiential retail and consumer loyalty.

Inside Retail spoke to the founder and CEO of the designer goods mecca, Hiromi Yu, to discuss her thoughtful approach to bricks-and-mortar and experiential retail.

Inside Retail: Twenty years in luxury retail is no small feat – what factors do you think have contributed to Marais’ longevity?

Hiromi Yu: We maintained and grew the business as the world of fashion evolved. Listening to the audience is a big part of the business’s growth. We created a community, and our customers enjoy being part of that community, and so the community grew.

IR: How has Marais evolved over its 20 years in business? 

HY: Our first store was a Parisian apartment style, with more Belgian brands back then. Then we moved towards ‘marbled store glam’ 10 years thereafter, and more fashion-forward ‘lab and blueprint’ 20 years after. Some brands have been with us since 2004, and it has been a steady growth since, despite the pandemic and the economic slowdown. These are brands with real DNA followers – to amass and gain customers over 20 years, it is a mix of Marais and brand loyalty.

IR: Why was Marais’ 20th birthday the perfect milestone to launch its second location?

HY: It just happened whilst we were – and are still — realigning the business. It fit the moment, and we didn’t have to try hard to plan, as it came as an opportunity.

IR: What was the strategic reasoning behind Marais having both its flagship stores in the Melbourne CBD? Did you consider a suburb like Armadale or another city like Sydney?

HY: Melbourne CBD is always the centre of attraction, and full of the hustle and bustle. It is the first destination for tourists, and each store caters for different types of customers. We will always consider any other location where our customers are!

IR: How does the new bricks-and-mortar location differ from Marais’ original flagship store?

HY: The new bricks-and-mortar store is definitely more relevant to today, and future-forward, whilst the original remains true to our existing customer and their loyalties.

IR: What role does e-commerce play in Marais’ business and why does it still place a large emphasis on in-person shopping?

HY: E-commerce is a crucial part of the business for our customers who are unable to come in for in-person shopping, or to purchase items they missed when shopping in-store. In-person shopping allows direct interaction and bonding with the piece. Customers also receive direct education, and they also get to enjoy the shopping experience. Creating moments is part of our commitment to our audience.

IR: What has been Marais’ approach to customer service and how has this helped set it apart from other luxury retailers?

HY: I love speaking to our customers whenever I visit the store, and I love that I recognise friendly faces from up to 20 years ago, and personally get to appreciate their loyalties. Honestly, it is rewarding to be able to look at what the customer needs in their wardrobe and help them to achieve their wardrobe goals. Recognise the customers when you remember that they have visited, and for every single time the same customer visits the store, they feel welcomed, respected, and empowered to make the right decision.

IR: How has the recent economic downturn and pressure on the luxury retail industry affected Marais?

HY: It affected Marais in a positive, educational way; to be more agile about the market, from the brands the consumers desire, and the price and lifetime value for each investment. This is key to ensuring the business stays alive and relevant.

IR: What strategies and initiatives has Marais implemented to maintain customer retention and loyalty?

HY: Our relationship with our customers is important. We’ve launched exclusive 20-year anniversary collaborations, and we give our loyal customers the first reveal and opportunity to own.

IR: What’s next for Marais as it looks to continue setting the standard for luxury shopping in Australia?HY: Improvement, improvement, improvement!

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