Industry member and CEO of MATCHESFASHION.COM, Tom Chapman has today responded to rumours that he and his wife, Ruth are selling their boutique empire – quashing speculations that the company is on the selling block for an alleged £200 million.
“Naturally we are regularly assessing our strategic options for the business, but there is no ongoing process at present,” said Tom, referring to an article in The Sunday Times this last weekend that claimed the company had hired investment bankers from Morgan Stanley. Tom set the record straight, claiming that the article was “unfounded and purely speculative.”
“We have obviously been observing the latest industry developments and will always evaluate the options and what’s best for the business long term, especially in the light of our continuing excellent performance and growth.”
The news follows a line of high-profile luxury sell offs in the fashion industry, including the recent acquisition of Browns (where Industry member, Caroline Burstein was creative director) to e-commerce giant, Farfetch and the merger between Net-a-Porter and Yoox. The Chapman’s currently own about three quarters of their business, with Scottish Equity Partners owning the other 25%.
“MATCHESFASHION.COM has long been a trailblazer for the integration of online and offline luxury platforms and we’ve now moved beyond the omnichannel trends of last year and are simply focused on executing the best experience in modern luxury commerce,” concluded Chapman.