• Source: Matches Fashion

Matches was a global luxury e-commerce platform, Matches offered ready-to-wear, shoes, bags and accessories for womenswear, menswear and lifestyle products. The business operated online and via three stores in London, England.
On 21st July 2024 Matches closed its doors for the final time after Frasers Group put it into administration after only two months of ownership.




History


Tom Chapman and Ruth Chapman opened the first store in Wimbledon Village in 1987, and opened an online store in 2007. In 2012, the Chapmans sold a £20,000,000 stake to venture capital firms to help build its online presence. In 2017, the founders sold the business to private equity firm Apax for an estimated £400 million.
Six months after Ajay Kavan stepped down from his role, Paolo de Cesare became CEO of Matches Fashion in September 2021. After confirming that Nick Beighton would be its new CEO on July 12, 2022, the company received £60m from Apax. to power its turnaround.
On 3 November 2022, it rebranded from Matchesfashion to Matches.
In 2023, Matches saw a revenue drop, but said it has grown its customer base in its UK and US markets and has "improved underlying profitability."
In 2023, Frasers Group acquired Matches Fashion for £52 million from private equity firm Apax Partners.Mike Ashley’s Frasers Group Buys Matchesfashion Business of Fashion, TAMISON O'CONNOR and ROBERT WILLIAMS, 20 December 2023
In 2024, months after Frasers Group acquired Matches Fashion for £52 million, they placed the business into administration and cut over half of staff. Matches CEO Nick Beighton and CFO Dave Murray both left the fashion retailer a week after it entered administration.




See also


Burberry
Farfetch
YOOX Net-a-Porter Group
Mytheresa




References






External links


Official website

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