“Matchesfashion.com has redefined the face of luxury commerce and become renowned globally for having the fashion point of view," said the pair this afternoon. "The business has never been in a stronger position and we want to thank our loyal customers, the exceptional brands and the brilliant people who we are fortunate enough to work with. They inspire us every day to be better."
"We are delighted that Apax Partners have taken a majority stake in the business. After 30 years of growing this business Ruth and I are ready to take on new challenges while remaining shareholders and taking on an advisory role," added Tom. "Our world-class team led by CEO, Ulric Jerome and CFO, Fiona Greiner will continue to drive Matchesfashion.com to becoming the number-one luxury fashion commerce company in the world."
It will bring big change for the couple, who have been intimately involved with every detail and development of their hugely successful brand since they established it, despite starting to scale back their official roles in recent years- a sentiment that was addressed today by Jerome.
“It is very important that, on behalf of everyone in the Matchesfashion.com family, I recognise the incredible vision and work of our founders, Tom and Ruth," he said. "Over 30 years they have created an exceptional brand, renowned and recognised globally and respected by the industry. They gave this business its DNA and we will carry that forward."
The deal is set to be completed in full by the end of the year, with change and development expected to be in the pipeline. Already this year, the brand announced a huge new expansion into the east end of London, creating more than 150 jobs in four years.
“We are delighted to have the opportunity to work with Matchesfashion.com, which has emerged as one of the leading players in the online luxury space globally," said Gabriele Cipparrone, a partner at Apax Partners. "Tom and Ruth, along with Ulric and his management team, have done a tremendous job in expanding the business in a sector that continues to demonstrate huge growth potential. Online penetration of the luxury market is still small and we anticipate this will grow significantly in the coming years. Matchesfashion.com, with its distinctive assortment, unique voice, and unparalleled customer service, is ideally placed to attract and encourage this growth in the online luxury market.”
"We are delighted that Apax Partners have taken a majority stake in the business. After 30 years of growing this business Ruth and I are ready to take on new challenges while remaining shareholders and taking on an advisory role," added Tom. "Our world-class team led by CEO, Ulric Jerome and CFO, Fiona Greiner will continue to drive Matchesfashion.com to becoming the number-one luxury fashion commerce company in the world."
It will bring big change for the couple, who have been intimately involved with every detail and development of their hugely successful brand since they established it, despite starting to scale back their official roles in recent years- a sentiment that was addressed today by Jerome.
The deal is set to be completed in full by the end of the year, with change and development expected to be in the pipeline. Already this year, the brand announced a huge new expansion into the east end of London, creating more than 150 jobs in four years.
“We are delighted to have the opportunity to work with Matchesfashion.com, which has emerged as one of the leading players in the online luxury space globally," said Gabriele Cipparrone, a partner at Apax Partners. "Tom and Ruth, along with Ulric and his management team, have done a tremendous job in expanding the business in a sector that continues to demonstrate huge growth potential. Online penetration of the luxury market is still small and we anticipate this will grow significantly in the coming years. Matchesfashion.com, with its distinctive assortment, unique voice, and unparalleled customer service, is ideally placed to attract and encourage this growth in the online luxury market.”
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