Latest fashion industry deals

Date: April 2024
Buyer: Frasers Group
Target: Matches Fashion
Business: Women’s fashion retailer
Value: Undisclosed
Details: Frasers Group has purchased certain IP assets from Matches Fashion (“Matches”) out of administration for an undisclosed sum. Frasers acquired Matches from Apax Partners for £52million in December 2023, and subsequently placed Matches into administration in March 2024, appointing Teneo as the administrators. Currently, Matches’ administrators estimate that the business has £36million owed to unsecured creditors, which include many of the luxury brands stocked in Matches’ stores and website, and currently has over £80million worth of stock. Frasers’ acquisition is limited strictly to Matches’ IP (said to be intangible items, including the Matches trademark, domain names and databases of the Matches store), and does not include the stock or remaining employees, which remain under the administrators’ control.




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