 | |
| Formerly | MatchesFashion (1987-2022) |
|---|---|
| Industry | |
| Founded | 1987 (1987), in London |
| Founder | Tom Chapman Ruth Chapman |
| Fate | Acquired by Hulcan 2025 |
| Headquarters | , |
Number of locations | 6 |
Area served | Worldwide |
| Brands | Matches Raey |
| Parent |
|
| Website | www.matchesfashion.com (Coming Soon page) |
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 21 July 2024 owner Frasers Group[1] put it into administration after only two months of ownership.
Following its administration and closure in 2024, Matches was acquired by a new ownership group in December 2025. The intellectual property and brand assets, including its in-house label Raey, were purchased from Frasers Group by a newly formed luxury retail company backed by the founders (Joe Wilkinson & Mario Maher) of the shopping app Mile[2]'.
History
Tom Chapman and Ruth Chapman opened the first store in Wimbledon Village in 1987, and opened an online store in 2007.[3] In 2012, the Chapmans sold a £20,000,000 stake to venture capital firms to help build its online presence.[4] In 2017, the founders sold the business to private equity firm Apax for an estimated £400 million.[5]
Six months after Ajay Kavan stepped down from his role,[6] Paolo de Cesare became CEO of Matches Fashion in September 2021.[7] After confirming that Nick Beighton would be its new CEO on July 12, 2022,[8] the company received £60m from Apax.[9] to power its turnaround.
On 3 November 2022, it rebranded from Matchesfashion to Matches.[8]
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."[10]
In 2023, Frasers Group acquired Matches Fashion for £52 million from private equity firm Apax Partners.[11]
In 2024, months after Frasers Group acquired Matches Fashion for £52 million, they placed the business into administration and cut over half of staff.[12] Matches CEO Nick Beighton and CFO Dave Murray both left the fashion retailer a week after it entered administration.[13]
See also
References
- ^ Frasers Group to shut down Matches after two months MADELEINE SCHULZ, Vogue Business, March 7, 2024
- ^ https://www.vogue.com/article/matches-to-return-under-new-ownership
- ^ "Matchesfashion.com co-founder: "Leaders must rethink what's possible and deliver meaningful change"". www.managementtoday.co.uk. Retrieved 16 November 2020.
- ^ "Ruth Chapman: 'In fashion, when women talk, men listen. That's an". Evening Standard. 5 September 2013. Retrieved 16 November 2020.
- ^ "Husband and wife bank £400m from sale of Matchesfashion.com". the Guardian. 1 September 2017. Retrieved 27 January 2022.
- ^ Conti, Samantha (1 March 2021). "Ajay Kavan Steps Down as Matchesfashion CEO After One Year". WWD. Retrieved 27 January 2022.
- ^ Socha, Samantha Conti, Miles; Conti, Samantha; Socha, Miles (20 September 2021). "Matchesfashion Picks Paolo de Cesare as CEO". WWD. Retrieved 27 January 2022.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ a b UK, FashionNetwork com. "Matchesfashion confirms Nick Beighton as its new CEO". FashionNetwork.com. Retrieved 12 November 2023.
- ^ "MATCHESFASHION | Apax Partners". www.apax.com. Retrieved 12 November 2023.
- ^ "Matchesfashion Saw Slight Revenue Drop in 2022". The Business of Fashion. 1 November 2023. Retrieved 12 November 2023.
- ^ O'CONNOR, TAMISON; WILLIAMS, ROBERT (20 December 2023). "Mike Ashley's Frasers Group Buys Matchesfashion". Business of Fashion.
- ^ Butler, Sarah (8 March 2024). "Matchesfashion to enter administration and cut 273 jobs". The Guardian.
- ^ Wright, Georgia (13 March 2024). "Matches CEO and CFO exit following administration - Retail Gazette".
External links
- Official website
51°27′33″N 0°7′55″W / 51.45917°N 0.13194°W / 51.45917; -0.13194
