Matchesfashion.com in talks about £600m sale

Net-a-porter rival eyes up sale

Matchesfashion.com is in talks with a clutch of private equity firms about a takeover which could value the fashion retailer at £600m.

The British online luxury retailer is reportedly in talks with firms, including Apax Partners, KKR, Permira and Bain Capital, who are expected to table bids for the retailer in the next few weeks, according to Sky News.

The sale would value the company, set up by husband-and-wife team Tom and Ruth Chapman in 1987, at more than £600m.

As the majority shareholders, the Chapman’s could receive a windfall of over £300m if such a sale were to go ahead.

Matchesfashion’s minority shareholders, Scottish Equity Partners and Highland Capital, own 30 per cent of the business after the couple sold a stake in 2012 for £32m.

Sources told Sky that the couple could opt to retain a significant stake in the company or only offer a minority stake in the company.

However, sources close to the sale process said the private equity firms considering a bid were expected to pursue a majority stake in the company.

Matchesfashion, sells brands such as Alexander McQueen, Balenciaga and Chloe, and reported impressive sales growth of 61 per cent to £204m this year when it published details of its financial performance for the first time.

Set up in 30 years ago as a boutique in Wimbledon, south-west London, Matchesfashion took its store online in 2007. They now sell more than 400 brands online and through three London stores and launched a 90-minute delivery service for its London shoppers last year.