Frasers Group has acquired luxury clothing website Matches Fashion for £52 million.
The company, controlled by billionaire Mike Ashley, will buy Matches from private equity firm Apax Partners, its owner since 2017.
It marks a further expansion of Ashley’s empire, with Frasers owning retailers including Sports Direct, House of Fraser and Flannels, as well as Savile Row tailor Gieves & Hawkes and cycle shop Evans Cycles.
The move to luxury is part of the ‘elevation’ strategy under CEO Michael Murray (photo), who is married to Ashley’s daughter Anna.
Murray said: ‘This will strengthen Frasers’ luxury offering and accelerate our mission to provide consumers with access to the world’s best brands.’
Matches, which sells designer brands including Gucci and Valentino, made a £33.5 million loss last year.
CEO Nick Beighton said: ‘Being part of Frasers, with their total commitment to luxury, will give this company the financial stability it needs.’
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