Matches Fashion is poised for a comeback next year after its acquisition post-administration. The high-end fashion retailer faced financial collapse in March 2024, reportedly owing over £210 million to top designer brands such as Gucci and Anya Hindmarch.
Formerly under the ownership of Frasers Group at the time of insolvency, Matches was bought by Joe Wilkinson and Mario Maher, the creators of the luxury shopping app Mile. The duo has taken over Matches and its in-house brand Raey, integrating them into the new luxury conglomerate Hulcan, as reported by Vogue Business.
Maher expressed their commitment to preserving Matches’ legacy of curation, exclusivity, and quality products, albeit with a fresh perspective. Wilkinson highlighted the significance of merging brands, media, and technology to create a forward-looking luxury ecosystem that revolutionizes how people engage with brands.
Matches, known for its online presence and a few physical stores in London, faced financial challenges leading to its collapse. Frasers Group acknowledged the business’s consistent losses and the impracticality of restructuring it effectively, ultimately leading to the decision to put Matches into administration.
Despite the setback, Frasers reaffirmed its dedication to the luxury market and its brand partnerships. The new ownership under Wilkinson and Maher signals a transformative phase for Matches, aligning with their vision for innovation, sustainable growth, and enhanced value for both brands and customers.