link.png Matches founders step down after 27 years← Back

 
After 27 years at the head of their company, Tom and Ruth Chapman have announced they are stepping down from their positions as chief executives at Matches Fashion.  
 
Matches was founded in 1987, when the Chapmans set up their first shop in Wimbledon. The luxury fashion retailer went on to grow and now has 4 stores in London as well as the online platform, Matchesfashion.com, which was created in 2006. The majority of the company’s sales are now online, partly due to an investment in 2012 that enabled the company to redevelop the website. Both online and in its physical stores, Matches Fashion offers a combination of established high-end labels as well as up-and-coming designers, stocking a total of over 400 brands.
 
In May, The Sunday Times reported that they had hired Morgan Stanley to look at “strategic options”, but the couple quickly refuted any rumours that they were looking to sell the company. Although there are still no plans to sell, Tom Chapman admitted that there is the possibility of an IPO in the future in an interview with The Telegraph that was published yesterday. 
 
 
In the meantime, Ulric Jerome, who is currently chief operating officer, will take over as CEO. Jerome was hired in 2013 to help develop the growth of the company. Once they step down Tom and Ruth Chapman, who own majority stakes, will remain onboard as chairmen of Matches Fashion.
 
This comes after it emerged earlier this year, that Net-a-Porter and Yoox were merging, followed by the news that Browns was being bought by Farfetch. This latest announcement is yet another sign that the luxury fashion retail in the UK is currently undergoing major changes, with increasing focus on the online luxury fashion market.