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Matchesfashion.com: Annual revenues surge 43.7 percent

By Prachi Singh

22 May 2018

Business

For the year to January 31, 2018, according to accounts filed with the Companies House UK, Matchesfashion.com recorded group revenue of 293 million pounds (393 million dollars) compared to 204 million pounds (273.8 million dollars) in the previous year, representing a rise of 43.7 percent. EBITDA for the year reached 26 million pounds (34.9 million dollars) compared to 19.4 million pounds (26 million dollars) last year.

Highlights of Matchesfashion.com’s results

The average order value during the year under review was 542 pounds (727 dollars). With almost 95 percent of the company’s business contributed through online platforms, ecommerce sales for year were 50 percent ahead year-on-year, while visits to its website increased 36% to 75 million, with over 50 percent of online sales generated through mobile.

The company said, its continued investment in ecommerce and logistics drove sales growth in the UK and internationally. In 2017, funds advised by Apax Partners acquired a majority stake in the group to drive its international growth. In February last year, Matchesfashion.com launched a French language website followed by a Korean website in the third quarter. In the first half of 2017, Matchesfashion.com opened a London-based retail store dedicated to in-house brand Raey.

In the coming year, the company plans to partner with Eco Age to develop comprehensive sustainability program. It opened a photographic and creative design studio at Here East Queen Elizabeth Olympic Park in Stratford, and plans to expand its retail footprint with a concept store in 5 Carlos Place Mayfair. Planning for a new distribution centre, which will have potential to scale with the business and a new office in Hong Kong to serve the Far East market, is also in the pipeline.

Picture:Facebook.Matchesfashion.com