Matches has announced a growth equity investment of £20m from SEP and Highland Europe.
Established in 1990 as a bricks and mortar retailer by Tom and Ruth Chapman, Matchesfashion launched online six years ago and has become a unique luxury fashion retailer, servicing the global market with over 250 international designer labels across womenswear and menswear, with names including Alexander McQueen, Balenciaga, Saint Laurent and Isabel Marant.
The funding will enable Matches to further expand its rapidly growing online sales, with a focus on key International markets, while continuing to invest in its luxury bricks and mortar business.
Tom & Ruth Chapman, joint CEO’s of Matches said, “It was incredibly important to us to find partners who understood Matches unique proposition and our vision of how to grow the business across an omni-channel platform. We are pleased to have found them in SEP and Highland – who both completely understand our vision and strategy. This is a key stage in the growth of Matches and we are very excited about what this investment means for our future.”
The investment was led by SEP partners Andrew Davison and Jan Rutherford and from Highland Europe by partner Sam Brooks. Andrew and Sam both now join the company’s board of directors.
Andrew Davidson, partner SEP commented: “We are delighted to be the company’s first private equity backer and to have the opportunity to support such a talented team. Tom and Ruth Chapman have built Matches Fashion into a highly trusted and iconic brand, and are dedicated to offering their customers the highest quality retail experience. Our investment will enable the company to expand its online operations and cement its position as a leading global fashion business.”
Sam Brooks, partner Highland Europe said; “We are particularly impressed by the multi-channel, international shopping experience that Tom and Ruth and their world-class team have built in Matches Fashion. Their unique approach has resulted in exceptional growth with large international scale potential; we are thrilled to be partnering with Matches through our dedicated European growth fund.”