Matches Fashion is poised for a comeback next year after being acquired following its administration. The high-end fashion retailer collapsed in March 2024, reportedly owing over £210 million to designer brands such as Gucci and Anya Hindmarch.
Previously under the ownership of Frasers Group, Matches was bought by Joe Wilkinson and Mario Maher, the founders of luxury shopping app Mile. They have now taken over Matches and its in-house brand Raey to be part of a new luxury group named Hulcan, according to Vogue Business.
Maher emphasized the importance of maintaining Matches’ heritage of curation, exclusivity, and quality products while introducing new elements to the brand. Wilkinson highlighted the significance of integrating brands, media, and technology to create a futuristic luxury ecosystem that enhances the way people discover and engage with brands.
Matches, known for its online presence and a few stores in London, faced financial challenges prior to its collapse. Frasers Group acknowledged the business’s persistent losses and the impracticality of restructuring it to meet viability standards, leading to the decision to put Matches into administration.
Frasers expressed its commitment to the luxury market and its brand partners despite the challenges faced by Matches. The new ownership under Wilkinson and Maher aims to revitalize Matches Fashion with a fresh approach while staying true to its core values.