UK’s Frasers Purchases Online Luxury Fashion Retailer, Matches

UK's Frasers Purchases Online Luxury Fashion Retailer, Matches

The strategy involves investments in flagship stores and in online operations, and the strengthening of ties with brands such as Nike, Adidas, The North Face and On Running.

Sportswear and apparel retailer Frasers Group has announced the acquisition of online luxury fashion retailer Matches for $65.9m (£52m).

Frasers said on Wednesday the deal will further develop its so-called “elevation strategy”, which is taking the business more upmarket. 

MATCHES offers products from more than 450 designers and generates the majority  of its revenue internationally, with the business delivering to 150 countries outside the UK.

The strategy involves investments in flagship stores and in online operations, and the strengthening of ties with brands such as Nike, Adidas, The North Face and On Running. 

Frasers bought the retailer from MF Intermediate, a subsidiary of funds advised by Apax Partners.The shares were purchased from a group of six companies, along with any debts owed by the companies.