LONDON — Fashion marketplace Cult Mia, which specializes in eveningwear and occasionwear from around the world, has raised a further $2 million from H&M Group Ventures, Fuel Ventures and David Wertheimer. The investment comes a year after Cult Mia raised $3 million in seed funding from Morgan Stanley, Fuel Ventures and David Wertheimer, and will … Read more
LONDON — The Body Shop could have a new owner by the end of June after the deadline for bids set by the company’s U.K. administrators, FRP Advisory, closed earlier this week. FRP had originally planned on a CVA, or Company Voluntary Agreement, which would have seen The Body Shop exit administration, and return to trading, … Read more
LONDON – British label The Vampire’s Wife, a fashion brand known for its flowing sharp-shouldered dresses and Gothic charm, said Tuesday that it will cease trading immediately due to “the upheaval in the wholesale market,” which has had dramatic implications for the brand. “After ten years as the creative director of The Vampire’s Wife, it … Read more
LONDON — Mike Ashley’s Frasers Group has repurchased the intellectual property and non-tangibles of luxury retailer Matches just two months after placing the company into administration. In a brief statement to the London Stock Exchange on Monday, Frasers said it reached an agreement with Matches’ joint administrators to acquire “certain intellectual property assets only.” Those assets are understood to be … Read more
LONDON — Nick Beighton, the last hope of Matches’ former owners Apax Partners and the retailer’s fourth chief executive officer in five years, is out after less than two years in the role. According to Companies House, the register of U.K. businesses, his directorship has been terminated. Matches’ administrators Teneo, which is seeking buyers for all … Read more
LONDON — As Matches grinds its way through a bankruptcy process under administrators Teneo, brands and suppliers have been tapping lawyers to help them recoup outstanding payments and warehouse stock although they may come away disappointed. “We’re trying to find a constructive, commercial solution, but it’s hard to get a dialogue going because the people … Read more
LONDON — In an oversaturated fashion market, smaller brands are repositioning themselves to better suit their customers and to keep their brands alive. Silk fashion brand Worme, founded by sisters Melissa and Hannah Collett, is introducing made to order as a new model to their business. “It’s the future for small businesses just in terms … Read more
LONDON — Frasers Group is putting luxury online retailer Matches into administration two months after buying it at a knockdown price from Apax Partners. In a statement released to the London Stock Exchange late Thursday, Frasers said Matches “has consistently missed its business plan targets and … has continued to make material losses. While Matches’ management … Read more
LONDON — Administrators have begun seeking a buyer for the British retailer Matches, which was shut down abruptly this week by new owner Frasers Group. Benji Dymant and Julian Heathcote of Teneo Financial Advisory Ltd. confirmed Friday that Matches will continue to do business through its website and three London stores, in Mayfair, Marylebone and Wimbledon, … Read more
LONDON — Matches, with its swanky Mayfair townhouse and VIP clients from around the world, has been sold at a knockdown price to Mike Ashley of Frasers Group in a moment of reckoning for European luxury e-commerce players. On Wednesday, Frasers revealed it had purchased 100 percent of Matches in a deal valued at 52 … Read more
