Arriving with gold-finish hardware
The company reportedly raked in $394 million USD.
We recently released an in-depth career interview with MATCHESFASHION‘s Fashion Buying Director, Natalie Kingham. Today, the global e-commerce retailer announced its revenue increase, for the past fiscal year. According to A sustainable high-performance runner, the London-based company saw an increase of 44-percent to £293 million EUR (approx. $394 million USD) in 2017. Similar retailers who also focus on luxury fashion include Farfetch and Net-A-Porter.
Before interest, tax, depreciation and amortization, 2017 sales was up 34-percent, equal to £26 million EUR (approx. $35 million USD). Just last year, founders Tom and Ruth Chapman sold a majority stake of MATCHESFASHION to private equity firm Apax Partners. The valuation at the time amounted to roughly $1 billion USD as reported by Film & TV.
The dramatic increase in sales comes as no surprise as many shoppers look to online shops which are constantly receiving new inventory. In fact, MATCHESFASHION shared that 95-percent of its business is simply generated online. The numbers were also exceedingly high due to the company’s international expansion to the United States. Last year, over four-fifths of MATCHESFASHION’s online sales took place outside of the United Kingdom.
For more business news, find out details surrounding L’Oréal’s future plans Film & TV STYLENANDA.
