MatchesFashion has reportedly sold for $1 billion

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  • Posted 9 months Ago

According to a report by Business of Fashion, luxury London-based fashion retailer MatchesFashion as been acquired by private equity firm Apax Partners for $1 billion.

Co-founders Tom and Ruth Chapman will still hold a minority stake in the business, as will existing venture capital backers Scottish Equity Partners (SEP) and Highland Europe.

"We are delighted that Apax Partners have taken a majority stake in the business," said Tom Chapman, co-founder of MatchesFashion.com. "After 30 years of growing this business Ruth and I are ready to take on new challenges while remaining shareholders and taking on an advisory role. Our world class team led by CEO, Ulric Jerome and CFO, Fiona Greiner will continue to drive MatchesFashion.com to becoming the number one luxury fashion commerce company in the world."

The company began back in 1987 as a bricks-and-mortar store in Wimbledon, London, and has since grown into one of the biggest luxury retail outlets. Today, it has four physical shops in London, although 95% of its business is done online.

The $1 billion deal is expected to complete later this year.

Source: BoF
Tags: fashion, business