Luxury fashion retailer Matchesfashion.com could soon be put on the market, as advisers are sought to manage the process.
According to the Business of Fashion, founders Tom and Ruth Chapman – who launched the store in 1987 – have reached out to advisors in order to explore the sales process.
The pair own roughly 70 per cent of the business, while Scottish Equity Partners and venture capitalist firm Highland own the other 30 per cent between them.
An industry insider told Drapers that speculation of a sale didn‘t “come as a surprise. The venture capitalists are obviously looking to get a return on their investment”.
In 2013 the Chapmans stepped back from their day-to-day hands on role, hiring Ulric Jerome as chief executive.
Under Jerome the retailer saw a 61 per cent jump in sales to £204 million for the year to January 31, alongside an EBITDA increase close to fivefold.
Despite the majority of its sales coming from its online offering, it is poised to open its sixth physical London site, including two private shopping townhouses.