If there was any doubt that, over the past decade, the business of luxury e-commerce has “shot itself in the foot”, then the imminent shuttering of the once ubiquitous Matches Fashion should prove the proverbial smoking gun.
Following the acquisition of the UK-based fashion e-tailer by Frasers Group last year — to the relatively modest tune of £52 million (~AU$98.7 million) — administrators were instructed to wind up the company early this March.
Spokespeople from Frasers, which also operates luxury retailer Flannels, stated that “too much change would be required” to restructure Matches profitably. To date, the company’s voluntary administration has resulted in the termination of over 270 jobs, and insulated Frasers Group from a range of third-party claims from designers and production partners. According to Vogue Business, these are worth an estimated £22.8 million (~AU$43.3 million).
RELATED: Farfetch, Once-Iconic Fashion Marketplace, Sold To “South Korea’s Amazon”
Valued at US$1 billion at the height of its powers — with a brand roster including the likes of Bottega Veneta, Gucci, and Simone Rocha — Matches’ collapse speaks broadly to an almost categorical shift in the way luxury consumers shop online.
Amongst industry cognoscenti, one near-term prediction is that an increasing number of small brands will move to a direct-to-consumer model. Others still point to the opportunity for smaller, more engaged multi-brand retailers (e.g. Mytheresa) to ‘trade up’ in the wake of the Matches Fashion shutdown. To put it bluntly: your guess is as good as ours.
In the meantime, we’d suggest taking one last opportunity to browse Matches’ digital sales racks: starting with the assortment we’ve pulled together below. Note that, for obvious reasons, all purchases until the site’s shuttering (i.e. July 21st) are strictly ‘no returns’. Happy hunting.
LOEWE ‘Prince of Wales’ Check Reversible Cotton-Wool Coat
Size(s) Available: 52 EU/IT
Origin: Italy
A.P.C. ‘Maiko’ Medium Leather Tote Bag
Size(s) Available: One Size
Origin: Tunisia
Saman Amel Cashmere-Blend Polo Shirt
Size(s) Available: 50 EU/IT
Origin: Italy
Casablanca ‘Le Jeu’ Cotton Twill Baseball Cap
Size(s) Available: One Size
Origin: Lithuania
C.P. Company ‘Metropolis’ Series Hooded Jacket
Size(s) Available: 46 EU/IT
Origin: Italy
Dunhill Flap-pocket Cashmere Blouson
Size(s) Available: L, XL
Origin: Italy
Giorgio Armani Patch Pocket Diamond-Jacquard Jacket
Size(s) Available: 46, 48, 50 EU/IT
Origin: Italy
Tod’s City Gommino Suede Loafers
Size(s) Available: UK 6, UK 9, UK 12
Origin: Italy