Matchesfashion.com reportedly exploring sale option

Luxury multichannel retailer Matchesfashion.com is reportedly exploring the option of a sale.

The business, which is currently celebrating its 30th anniversary, is backed by Scottish Equity Partners and Highland Capital Europe who invested in the company five years ago.

Sources close to the company told Business of Fashion that the backers were seeking an exit – a natural move after five years – and the likely outcome would be a sale to a private equity company, however Matchesfashion.com itself has declined to comment on the rumours.

Matchesfashion.com was founded as an independent boutique 30 years ago by Tom and Ruth Chapman, who remain joint chairs of the business; they handed over the CEO reins to Ulrich Jerome in 2015. Today it operates boutiques in affluent London neighbourhoods including Wimbledon, Richmond upon Thames, Notting Hill and Marylebone as well as its highly successful online business, which was launched in 2006.

In March it was reported that the business had grown revenue by 61% to £204m in the 2016 financial year, while EBITDA was up nearly six-fold at £19m. Last year it established a new HQ in London's Shard building, which houses around 300 of the business's staff.