Matchesfashion plans standalone store for Raey

Matchesfashion is planning a standalone store for its own label Raey that will open in Notting Hill this spring.

Raey, which is designed by Rachael Proud, is a collection of around 250 pieces with a minimal, androgynous aesthetic with prices ranging from around £85 for a white t-shirt to £1,200 for a shearling coat.

While Matchesfashion's expansion in recent years has been digitally focused, its founder Tom Chapman, still believes in the value of physical stores to act as showrooms, according to an interview published in The Telegraph.

Chapman founded the business with his wife Ruth in 1987. It began life as a multi-brand boutique in Wimbledon and now has stores in affluent London neighbourhoods including Marylebone, Notting Hill and Richmond-upon-Thames, as well as a central London townhouse, "No 23", used for private events and personal shopping.

Its website was introduced in 2006 and took the brand global - it now delivers to more than 170 countries - and the business is reportedly valued at around £300m, though Chapman told The Telegraph it was not for sale. Around 95% of sales now come through the digital channel.

In 2015 Tom and Ruth Chapman handed the CEO reins of the business to Ulrich Jerome to assume the positions of co-chairs. Jerome has been pushing digital innovation and in November revealed a new 90-minute delivery service. He has also said he is exploring experiential technologies such as 360-degree videos and virtual reality.

Its website is home to around 420 luxury brands from international names such as Gucci, Saint Laurent and Alexander McQueen to more niche labels such as Vita Kin and Sies Marjan. Last year the business relocated to new corporate headquarters in The Shard.