Wayne Spriggs is the CEO and founder of Lusso, one of the UK’s fastest-growing and leading consumer businesses.
The North East-born entrepreneur has taken his business from a £10k overdraft to a multi-million-pound international company in just eight years of trading.
The Teesside-born businessman opened his doors into the luxury world of design in 2014, moving fast from a property developer to an entrepreneur. Now, Wayne Spriggs heads up the design as well as being CEO and founder, remaining heavily involved in all aspects of his family-owned business.
How and why was Lusso founded?
In 2014, I founded Lusso, the leading manufacturer of luxury bathroom products. I was working as a property developer at the time and I continually struggled to source luxurious products without an astronomical price tag. This gap in the market gave me the opportunity to draw inspiration for my own brand, then known as Milano Stone in its early stages, now known as Lusso.
I found 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 in just eight years.
How did you first get involved in product design?
As a property developer for over two decades, it was challenging to source luxury bathroom ranges without compromising on quality, settling for basic designs, or completely blowing the budget. I knew exactly what I was looking for in terms of style and finish, so after a lot of planning and research, I bridged the market gap and created Lusso.
Designing and developing my first line of freestanding baths and basins was a steep learning curve, but with the support of a fantastic team, I’m incredibly proud of the results and it’s allowed me to grow the company into what it is today.
What have been the key milestones of your growth?
After building a strong reputation and extensive client base, we’ve been able to expand the business into all areas of homeware, which is one of the greatest milestones for the business so far. In keeping with my long term vision to become the UK’s leading and only single-brand, luxury department store, this expansion began in 2021 and has continued with the launch of Lusso tiles, hardware and side tables.
Another key achievement includes securing a three-storey office space for the Lusso team, which provides a luxury working environment in-keeping with our signature aesthetic. I wanted the HQ to be an enjoyable workspace for the team, which is why Lusso House includes a fully licensed bar, spacious hotdesking facilities, comfortable breakout areas, an espresso station, and a fully equipped gym.
Luxury brands are being created all the time. What’s your secret to really achieving longevity in a very competitive market?
Lusso began as a retailer of attainable luxury bathroom products, created to fill the gap in a very competitive market. Our renowned bathroomware, particularly our stone baths, have become core pieces, however I believe that the longevity really comes down to being so dynamic and up to speed with current trends, and never compromising on quality or design.
All of our pieces are designed in-house, and this is one of the main areas that differentiates us from our competitors. I didn’t create a brand for the short term, which is why I’m always using data and trends to produce fresh ideas and concepts for new collections and designs.
It’s rare to find luxury design brands retailing exclusively via e-commerce and without a showroom. How have you earned the trust of your customers to do so?
Since the early days of the brand, we’ve secured a huge number of commercial appointments with high-profile brands and businesses, and our collections are featured in some of the world’s most luxurious destinations including Claridges, The Connaught, and the Equinox Hotel in New York. Other recent commercial clients include Tiffany & Co, Facebook, Harrods and LVMH.
This has played a big part in strengthening our reputation, and not only raises brand awareness within the industry, but also enables the customers and clients of high end locations to experience our products firsthand, which then encourages them to purchase from us directly.
What are the future plans for Lusso?
I never settle for the current stage, I always remain focused on what I can do next. I want to grow the brand to its full potential and become the world’s leading single-brand department store, offering everything for the home all under the Lusso brand.
I also want to remain a family-run business which is why I’ve recently turned down major investment offers. The decision comes after two years of exploring private equity options, but after garnering a great deal of interest, I have stepped away from these options.
The investment experience has been intense but incredibly rewarding, and it’s helped me to hone the business in key areas, however ultimately I’m very confident that we can achieve our ambitious goals as an independent British brand. This hasn’t been an easy decision, but it’s the right one for Lusso, and for me personally.
I’m completely committed to the brand – I live and breathe it – and from this experience, I can say with certainty that no matter how high the investment offer, I can’t imagine walking away from my incredible team and what we’ve achieved so far. We’ve turned a start-up business into a global brand that’s received over £120 million in sales in just eight years of trading, and we’ve built a reputation for service and quality that I’m incredibly proud of.
