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Frasers Group In discussions To Purchase Matchesfashion

Image Source: T. Schneider / Shutterstock

Frasers Group is in discussions to take over Matchesfashion, which could result in significant losses for the retailer’s private equity firm, Apax Partners.

According to Sky News, sources in the city have reported that Frasers Group was among a small number of parties involved in discussions earlier this week.

It is also believed that fashion giant Next has shown interest in acquiring Matchesfashion.

Insiders have suggested that the potential deal would be financially sound.

Despite the improved performance of Matchesfashion under CEO Nick Beighton, who previously served as Asos chief and joined the company in 2022, the business has still felt the impact of the slowdown in global luxury goods revenues.

Apax is thought to have invested around £600m in the fashion retailer since acquiring the business six years ago.

The acquisition of Matchesfashion would significantly advance Frasers Group’s “elevation” strategy, as per Sky News.

This development follows Frasers Group’s withdrawal from the SportScheck acquisition last month, as it sought to pursue a pre-pack deal instead.

The retail group stated that it decided to pull out of the deal due to the financial turmoil surrounding SportScheck owner Signa Holdings.

Image Source: T. Schneider / Shutterstock

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