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CHRISTIAN LORENZ PETERSEN, COO MIINTO GROUP
For our next edition of Mode Meets we spoke with Christian Lorenz Petersen, the COO of leading online fashion platform Miinto. Christian joined Miinto as part of the Executive team in 2019 to lead the group operations strategy following a distinguished career in Fashion retail.
Miinto’s concept is based on the collaboration with shop owners and brands, offering independent clothing stores the opportunity to go online and drastically expand their market, while benefiting from the marketing, digital, and technical expertise of Miinto.
For this Mode Meets article, we’ve asked Christian his thoughts on how Miinto stands out from the crowd, his thoughts on eco-conscious fashion, digital trends and consumer behaviour for 2022 and beyond.
Miinto is currently one of the fastest growing tech platforms in Europe, this is such an achievement! What do you believe helps your business stand out in the industry?
When we connect local supply with global demand, we bring a unique and extremely wide availability of fashion to customers across the markets we operate in.
We are combining Luxury, Premium and what we call local hero brands in a strong and unique power triangle. Because we are working with many of the best retailers in Europe, their unique and handpicked assortments become our competitive advantage and uniqueness.
One of Miinto’s goals is to pave the way for a more forward-looking and eco-conscious fashion industry by minimizing over-production and keeping independent retail alive and thriving.
Why do you think this is so important for 2022?
2022 is just a step on the way to make fashion more circular than linear and the more efficient the industry becomes is a foundation to achieve this. On top, it’s the consumers, as always, that are driving the industry and their focus is pushing companies to offer conscious fashion choices more now than ever.
I have no doubt that it will accelerate faster in the coming 5 years than it has accelerated in the past 100 years.
Miinto offered a lifeline to many independent boutiques hit with store closures during Covid. Did you see a huge increase in Partners?
Yes, we saw an acceleration in new partners when Covid hit across the highstreets. There has been a lasting strong interest in our platform. But most importantly, it has also given us a new dimension of pride in what we do - that we are not only a monetary gateway but also an incubator and lifeline.
The ongoing acceleration of partners today, is in our opinion, more a fact of the perception of marketplaces as digital department stores of the future and that more and more retailers are utilising us as part of their digital strategy and not only as a lifeline.
What changes have you spotted in your customers' shopping habits post Covid? Do you believe as consumers we shop in a different way?
Consumers are much more liberal in their approach to switching between mindset in their customer behaviour. They are not locking themselves to a certain fashion profile or the profile at least has become much more a mix of the fashion industry than a category-specific customer behaviour.
We see much more cross shopping between luxury, premium, mid-market, preowned and the likes. It is a super-strong tendency matching Miintos approach to assortment. Very few customers today are only shopping for one type of fashion. When you choose your outfit for remote working, it is very different from the outfit you used to shop when going to the office every day.
The wideness and combination of categories at Miinto is enabling the customer to shop their glam outfits and work from home in everyday wear. This goes for linear and circular fashion as well.
Minto recently launched in China, what an exciting time for the company. Can you share with us any exciting new projects to look out for?
New markets, new continents and beyond ahead.
What key trends in digital should we look out for over the next few years?
Like anyone else at the moment, I have to mention Web3 and the role it will play in fashion, or more correctly, the role fashion will play in the metaverse. This will be super interesting to follow.
When it comes to operational processes, I believe one of the big things we will see is the use of avatars enabling companies to multiply top performers into multiple tracks of customer and partner journeys.
What advice can you give to individuals looking to start on the career ladder?
Don’t go for the perfect job, but go for a perfect performance. You own your career and it’s down to your performance, dedication, motivation, and the effort you put into it.
There will always be more gifted, skilled, competent or smarter people than you, but you decide if anyone can work harder, more dedicated, motivated and passionate than you.
What has been your proudest moment, career wise to date?
What we are achieving on the Miinto journey right now. When we grow our partners grow, and they are growing fast together with Miinto..
In your opinion, what makes for an inspiring leader?
They are Inspirational, authentic and passionate. Excels in driving direction, alignment, and commitment to empower their teams, but is ready to support and lead their team when they struggle on bold missions.
MODE SEARCH LTD 2022 No. 10889892