Lusso founder and CEO Wayne Spriggs reveals his plans to become the world's leading single-brand department store, and explains why he believes success is all about staying focused on the next step.
Q: Tell us about Lusso – how did it start?
A: I founded Lusso in 2014 when I was working as a property developer, and at the time, I was facing a continuous struggle to source luxurious products without an astronomical price tag. The gap in the market gave me the opportunity to draw inspiration for my own brand, then known as Milano Stone in its early stages, and now known as Lusso. I discovered my niche and travelled all over the world visiting multiple trade shows, learning the trade and most importantly building relationships. All of this helped me to build my vision and create Lusso, which has seen phenomenal success, and we are now close to celebrating the 10th anniversary of the brand.
Q: How did you get to where you are today?
A: Lusso was built on integrity and determination, with a vision that started from a strong gap in the market. Through building strong relationships and manufacturing products that are expertly crafted and visually stunning, the Lusso name soon became renowned, which is why almost 10 years on, we now offer much more than just stone baths. This was one of my main goals when founding the brand – to offer everything for the home – so it’s phenomenal to reflect on how far Lusso has come. This success also allowed us to relocate from a small office space into a three-storey HQ, enabling us to expand our team and further elevate our successes.
Q: How’s business going at the moment?
A: Business at the moment is thriving, and 2023 was our biggest year to date. We expanded our collection even further with 500 new products, one of which we won two industry awards for. We also also achieved 20% year on year sales growth, exceeding £150million in cumulative sales since the inception of the brand. On top of this, we expanded our brand overseas, with the addition of the Lusso UAE website, allowing customers in the United Arab Emirates to shop with localised payment methods while providing tailored customer service to the Middle East.
Q: What is your biggest current challenge?
A: The biggest current challenge is expanding Lusso into the UAE. This was probably the largest challenge faced in 2023, and after ticking off the first phase of this, I want to take this to the next level. I would eventually like to open a showroom in the UAE, and get Lusso products into hotels and developments there, like we have in London and New York.
Q: What’s next in terms of product development?
A: We will soon be launching a collection of electricals which includes sockets, switches and blank plates, and this is in addition to our homeware expansion. This leads us one step closer to providing a full shopping experience for our customers to purchase everything for their home all under one brand. We are also expanding our tile collection, offering a broader range of floor and wall tiles for bathrooms, kitchens and utility rooms. In 2024, I expect this to be one of our biggest years yet for product innovation.
Q: How about business development?
A: I never settle for the current stage, I always remain focused on the next step and how I can get there. I want to grow the brand to its full potential and become the world’s leading single-brand department store, so my full focus will be on achieving this. Aside from our UAE website launch, I’ve also got my sights set on opening an exclusive showroom in the UK, which keeps us firmly rooted as a British brand. I intend to do this in the heart of London, possibly Mayfair, surrounding neighbouring five star hotels that house our products, such as Claridges and the Connaught.
Q: In your view, what are the key elements that set Lusso apart?
A: Lusso is unlike any other brand out there, and it’s a core reason why we’ve seen huge success in just ten years of trading. Lusso was designed to blur the lines between luxury and accessibility, and this is what we’ve become renowned for – quality, craftsmanship and attainable luxury.
Q: Where do you hope the business will be in three years’ time?
A: In three years' time, I hope to see Lusso as a leading department store, allowing customers to browse and shop everything for each space in their home, from their kitchen and bathroom to their bedroom and even the garden. I want our customers to be able to shop for their bath in the same place they would their paint, their bed and their garden furniture.