Matchesfashion has recorded an another strong year of growth thanks to international expansion and a 44 per cent surge in full-year revenues.
For the year ending January 31, the fashion retailer’s revenues shot up to £293 million, with an average order value of £542, while EBITDA increased 34 per cent from £19 million to £26 million.
Matchesfashion said the results were boosted by a 50 per year year-on-year spike in its online arm, which now accounts for 95 per cent of the business.
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In addition, 82 per cent of its online business was generated outside of the UK, with sales in the US leading the way after increasing by 54 per cent and making it the retailer’s largest market by revenue.
Overall website visits also increased 36 per cent year-on-year to 75 million, and 51 per cent of its online sales were generated via mobile thanks to the success of a new app.
Chief executive Ulric Jerome credited the growing demand for online luxury fashion retail for Matchesfashion’s growth.
“The global online luxury market is seeing strong growth but penetration is still very low, so the opportunity is huge,” he said.
“We continue to accelerate profitable growth in our international markets and we see that momentum continuing throughout 2018.”
2017 also saw Matchesfashion launch two local-language websites in French and Korean and, in October, funds advised by Apax Partners acquired a majority stake in the company.
Building on this momentum, this year Matchesfashion has for far tripled its Hong Kong office anmd opened a new creative studio in East London.
It will soon open a new 500,000sq ft global distribution centre in London, followed by a five-story townhouse residence in Mayfair that will aim to combine retail, culture, online and broadcast.
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