Matchesfashion has reported a drop in its annual revenues for the year to 31 January, 2021 to £392 million and has racked up a loss of £36.6 million. The high-end eCommerce fashion business is backed by Apax Partners which invested a further £45 million to meet its obligations. Blaming both Brexit and the pandemic for its declining performance despite competitors enjoying record sales during 20/21, it has been suggested that the business has been slow to generate return from its significant investments in technology and operations.
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