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Apax to purchase majority stake in Matchesfashion.com

RBR Staff Writer Published 04 September 2017

Private equity firm Apax Partners (Apax Funds) has entered into a definitive agreement to acquire a majority stake in global luxury-shopping brand Matchesfashion.com for an undisclosed sum.

Headquartered in The Shard, London, Matchesfashion.com was established by Tom and Ruth Chapman in 1987 and the firm has a workforce of about 500 employees.

Along with founders, the existing investors Scottish Equity Partners (SEP) and Highland Europe, will remain as minority share holders of the business.

The luxury retailer offers a range of men and women collections designed by about 450 established and emerging designers. The company products are available across 176 countries.

Matchesfashion.com, which has five physical stores in London, generates around 90% of its sales online.

Apax Partners, headquartered in London and New York, invests in companies across four global sectors – Tech and Telco, Services, Healthcare, and Consumer. 

With the latest transaction, Apax plans to enhance the online luxury retailing business.

Tom and Ruth Chapman said: “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.” 

Subject to approval of certain customary closing conditions, the deal is anticipated to be closed in the fourth quarter of this year.

Image:Matches Fashion Marylebone. Photo: Courtesy of Philafrenzy.