Matchesfashion has announced that its owners, private equity firm Apax Partners, are set to invest £60m into the business.

Matches Fashion store Wimbledon

Matchesfashion reported record trading during the Christmas period

The luxury fashion retailer said the investment will combine an anticipated split of £40m in equity and £20m in debt.

Apax originally acquired a majority stake in the fashion giant in 2017 and has since appointed former Asos boss Nick Beighton as the retailer’s chief executive.

The additional financing boost from Apax follows a strong Christmas trading period for Matchesfashion in which it posted a 15% increase in order demand year on year.

The retailer also reported a record trading day during the key Christmas period, which jumped 35% from the previous year.

A spokesperson for Matchesfashion said: “Matchesfashion offers luxury brands an exclusive audience and our customers love the service we provide. 

“Our trading performance has been very strong in recent months and we are well-positioned as a business, having significantly strengthened our top team. 

“Now, with additional financial support from Apax, we are well placed to continue to drive our turnaround plan and deliver long-term commercial success.”

The announcement comes after a turbulent few years for Matchesfashion as a result of three new chief executives taking the reins over the last four years, a lack of product variety and increased competition in the luxury sector. 

The pandemic also posed a challenge for the retailer as customer preferences swayed towards casual clothing and loungewear rather than luxury occasionwear.

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