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Retail

Mike Ashley’s Frasers Group Buys Matchesfashion

The sale sees owner Apax Partners take a heavy loss on the British e-tailer amid a broader meltdown in the luxury e-commerce space.
Matchesfashion's Carlos Place townhouse in Mayfair, London
Frasers Group placed Matchesfashion into administration just months after acquiring the struggling luxury retailer. (Shutterstock)
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Frasers Group, the retail group owned by British high street tycoon Mike Ashley, has agreed to buy luxury e-tailer Matchesfashion for just £52 million ($63 million), in a deal that signals heavy losses for its private equity backer Apax Partners.

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Further Reading

Can a New CEO ‘Transform’ Matchesfashion?

The British luxury e-tailer reported another year of widening losses in 2021. But new chief Nick Beighton is focused on the future, looking to attract young customers and revamp the site’s user experience.

Why Online Luxury Is Broken

Reports of financial strain at Farfetch amid a stalled deal with YNAP has driven confidence in multi-brand e-commerce to all-time lows. With value propositions eroding and investment drying up, a way forward remains unclear.

About the author
Robert Williams
Robert Williams

Robert Williams is Luxury Editor at The Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.

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