Add new class from library - what is right way?

There are basically two cases:

  • When the library belongs to the theme, use composer inside the theme folder to install the package.
  • When the library belongs to a (site) plugin, use composer inside the plugin folder to install the package.

The library you want to use looks more like something for a site plugin.
The theme should rather render content, not manipulate it.

As a side note, for importing from Excel into WordPress I had very good experience with using an importer plugin:

The free version has been sufficient for me in may cases.

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