Following weeks of speculation it can be confirmed that Apex Partners is set to acquire a majority stake in Matchesfashion. The founders of the retail business, Tom and Ruth Chapman, will retain a stake but step back from their executive involvement to assume advisory roles. Other current shareholding investors Scottish Equity Partners and Highland Europe will also retain minority stakes. The deal is expected to be finalised in the next few months.
Matchesfashion founders Tom and Ruth Chapman said via a statement “Matchesfashion.com has redefined the face of luxury commerce and become renowned globally for having a fashion point of view. The business has never been in a stronger position and we ant to think our loyal customers, the exceptional brands and the brilliant people who we are fortunate enough to work with. They inspire us every day to be better.” With Tom adding “We are delighted that Apex Partners have taken a majority stake in the business. 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”.
Whilst no price has been formally disclosed, figures of between £600m-£800m were being mooted in the run up to the sale of the £204 million turnover business.
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