Scottish Equity Partners (SEP) has completed a £12m growth equity investment in Matches, a leading UK based luxury fashion retailer.
The funding will enable the company to further expand its rapidly growing online sales, with a focus on key international markets, while continuing to invest in its 14 luxury stores across London.
Matches will close 2012 with a turnover of over £50million, with 60% driven by online, a growth of 120% on 2011.
Established in 1990 as a bricks and mortar retailer by Tom and Ruth Chapman, Matchesfashion launched online six years ago and has become a unique luxury fashion retailer, servicing the global market with over 250 international designer labels across womenswear and menswear, with names including Alexander McQueen, Balenciaga, Yves Saint Laurent and Isabel Marant.
The investment was led by SEP partner Andrew Davison, who has joined the company’s board of directors.
He said: “We are delighted to be the company’s first private equity backer and to have the opportunity to support such a talented team. Tom and Ruth Chapman have built Matches Fashion into a highly trusted and iconic brand, and are dedicated to offering their customers the highest quality retail experience. Our investment will enable the company to expand its online operations and cement its position as a leading global fashion business.”
Matches Fashion is the latest addition to SEP’s e-commerce portfolio which also includes Edinburgh based Skyscanner, the world’s most comprehensive flight search company, which was recently listed at No 17 in this year’s Sunday Times Tech Track 100.”
About Scottish Equity Partners
Scottish Equity Partners (SEP) is a leading UK growth equity and venture capital firm. Operating from offices in Glasgow and London, SEP invests in innovative, high growth potential companies in the sectors such as IT, healthcare and energy. SEP’s approach is to provide hands-on support for the companies it invests in, as well as capital, and the firm is recognised as the partner of choice by many of the UK’s high growth potential companies. SEP’s current portfolio comprises award-winning high growth companies including flight search engine Skyscanner (www.skyscanner.net); managed IT services provider Control Circle (www.controlcircle.com); 2012 Times Tech Track 100 listed Camsemi (www.camsemi.com); Media Ingenuity (www.mediaingenuity.com) a specialist in online marketing services and technology for the financial services sector; Cmed (www.cmedgroup.com) which combines full clinical research services with advanced clinical data capture and management technology; and healthcare informatics company Aridhia (www.aridhia.com).
Contacts:
Sarah Lee (Hot Tin Roof) and Catherine Simpson (Scottish Equity Partners)
About Matches:
Established in 1990 as a bricks and mortar retailer by Tom and Ruth Chapman, Matchesfashion launched online six years ago and has become a unique luxury fashion retailer, servicing the global market with over 250 international designer labels across womenswear and menswear with names including Alexander McQueen, Balenciaga, Yves Saint Laurent and Isabel Marant. Matches now have 14 bricks and mortar stores and ship to over 120 countries worldwide.
For more information please visit www.matchesfashion.com.
