Today, the environment and set up of your home has never been more important. Ever since the COVID-19 pandemic, more and more people are working from home, making it a place where people reside most often. This means that paying attention to the details and making the most out of your space can make all the difference to your everyday life and mentality. The proper interior design and products is what allows for this to happen.
Someone who found the beauty and potential in the interior design industry was Wayne Spriggs, the CEO and founder of Lusso. With Lusso being one of the world’s fastest growing online luxury department stores, Spriggs found immense success as an entrepreneur who had a vision to bring utmost quality and diligence to homeware and fixtures. However, he wanted to make sure that he would make this type of luxury accessible to those who could not afford the highest of prices. In doing so, he made sure that each of Lusso’s pieces reflected that of ‘flawless craftsmanship’ and their signature style of modern elegance.
With an ambition starting from a young age, Spriggs found this success without a very privileged and wealthy background. Although he dropped out of school at 15, he already had a business working mind, looking for opportunities everywhere around him. In turn, he gathered entrepreneurial experience and knowledge through different business ventures. At just 24, he launched a successful men’s clothing line known as Base clothing, in which he would then go on to trading ex-council housing stock. After carrying out 30 property transactions, he took that knowledge with him into his next beginning with Lusso.
Having to make the right investment, he started in 2014 with a £10,000 bank overdraft, which would fund the purchase of his first freestanding stone tubs. From the success found in this first investment, the company brought in £51,000 in sales in the first year. Spriggs continued to grow and expand the company as he went, working with his target audience in order to fulfill the need for premium products at reasonable prices. And while the journey faced many challenges and many hours of work, Lusso now brings in £1 million in revenue per week. Lusso also has a worldwide presence, offering products and services in more than 30 countries. The department store’s online store only perpetuates its accessibility and ease for customers.
To have found such success with Lusso, Spriggs had to have great determination and perseverance as an entrepreneur who started with little to nothing. He differentiated his company by being the only department store in the United Kingdom that sells exclusively branded products. In turn, while other department stores may rely their supply, quality, and image on the retail of other brands, the Lusso image was built solely on their brand alone.
With opportunities to sell the company to large private equity firms at a value of more than £150 million, Spriggs wanted to continue the management and progression of Lusso 100% in his ownership. In fact, most recently he was recognized as the Small Business Entrepreneur of the Year at the 2021 Great British Entrepreneur Awards. As Spriggs continues to fuel Lusso’s growth, he is excited to continue his professional career simultaneously.