Editors' Top Reads: News from Matches, eBay, N Brown and more...
Here are some of this week’s news and features highlights handpicked by TheIndustry.fashion team.
Matches, Marylebone
Matches set to be placed into administration following Frasers buyout
I can't say I'm surprised by this news, but I can say I'm somewhat heartbroken. Often when companies go down you feel sad but, upon reflection, you can't remember the last time you shopped there. My last order from Matches was on 3 February and I placed two orders in January. When was the first? I can't even remember; I've been shopping it for over 20 years. But of late the marble delivery boxes have been replaced by brown paper envelopes, the sense of discovery of those brands you'd never heard of but knew must be good if Matches said so, had stared to ebb, and you could just smell the decline.
You can't blame Frasers, which bought it a matter of weeks ago, as it was clearly in a parlous state by the time its former owners Apax offloaded it at the end of last year. There has been a revolving door at the top of Matches since its founders Tom and Ruth Chapman stood back in 2017 after the sale to Apax. There have been four CEOs and countless other changes in leadership.
I had high hopes that former ASOS CEO Nick Beighton might turn it around when he arrived to helm the business in July 2022, but talented as he is, the damage had already been done and then he was also faced with the global luxury downturn to contend with.
Will Frasers buy it back out of admin and revive it? Or will someone else? I don't know. What I hope emerges, at some point soon, is a renewed appetite for innovative, trailblazing, independent boutiques, which it what Matches used to be...
Lauretta Roberts, Co-founder, CEO and Editor in Chief.
eBay UK and BFC reveal 'Circular Fashion Innovators Fund' finalists
Isn't it great when businesses support other businesses, especially when it has a positive impact on the planet too? Well, earlier this week, eBay UK and the British Fashion Council announced the finalists for the 2024 Circular Fashion Innovator’s Fund, which aims to support early-stage businesses that have the "potential to transform the fashion industry".
All six finalists - Swoperz, Give Your Best, Supercycle, Finds World, Thrifthood and Loanhood - will receive £15,000, with an additional £10,000 for the overall winner. Alongside the financial support, the finalists will embark on a six-week mentoring programme, gain access to industry networking opportunities, and receive support from environmental charity Hubbub, an ongoing advisor for the fund. What a great opportunity!
Sophie Smith, News Editor & Senior Writer.
TheIndustry.fashion LIVE: Fashion's New Circular Opportunity - the highlights
Another week, another fabulous event by TheIndustry.fashion! Hosted in partnership with Bleckmann and sponsored by Avery Dennison, eBay and Supercycle, business leaders and panellists from fashion brands and retailers including Marks & Spencer, Burberry, Harrods, Selfridges, Harvey Nichols, All Saints, Boden, Aligne, Depop, and many more spent the day sharing insights on how to drive a more circular fashion industry.
From rental, renewal and repair to resale and how technology can improve circularity in the fashion industry, the event on Wednesday uncovered the opportunities around circularity alongside networking and a complimentary lunch. Read the highlights here and sign up for TheIndustry.fashion's daily newsletter to be the first to hear about future events.
Sophie Smith, News Editor & Senior Writer.
N Brown launches new system to slash return rates
Good to see this week that N Brown Group has launched a new Product Information Management (PIM) system – now live on Simply Be and to be rolled out to its JD Williams and Jacamo platforms later this year – in a bid to cut return rates, an area which is a constant issue for online retailers.
The new system promises to give more precise information on sizing, fit and fabric, as well as providing faster site speeds and a more seamless digital customer experience, which can only be a positive thing.
N Brown hasn’t estimated at what kind of percentage the new system will cut returns, but we will find that out in good time once it is well underway.
Tom Bottomley, Contributing Editor.
The Interview: The CEO of OMNES on creating sustainable fashion for all and revealing new launches...
This week, we published an exclusive interview with Jordan Razavi, the CEO and Founder of OMNES. Not only did he divulge insights into establishing and growing a sustainable brand, but he also revealed exciting new product launches on the horizon.
Razavi registered OMNES in 2017 and later it launched in 2021. His mission? To democratise sustainable fashion. Razavi told TheIndustry.fashion that it will finally be expanding into third-party retail, first with Selfridges, as well as launching a bridesmaid's collection, swimwear and accessory lines. Not to mention hinting at exciting brand collaborations. "You name it, we're doing it this year," he reveals.
Chloé Burney, Senior News & Features Writer.
