Matches Fashion is making a comeback next year after being bought out post-administration. The high-end fashion retailer collapsed in March 2024 with debts exceeding £210 million to prestigious brands such as Gucci and Anya Hindmarch.

Previously owned by Frasers Group, Matches was acquired by Joe Wilkinson and Mario Maher, founders of luxury shopping app Mile. They have taken over Matches and its in-house brand Raey, forming part of the new luxury group Hulcan as reported by Vogue Business.

Wilkinson and Maher aim to preserve Matches’ legacy of curation, exclusivity, and quality products while introducing new elements to the brand. Maher emphasized the importance of maintaining Matches’ core values while incorporating fresh perspectives.

The duo expressed excitement about their vision, merging brands, media, and technology to create an innovative luxury experience. They highlighted their track record of innovation, responsible growth, and value creation for brands and customers, with strong support from investors and partners for their future endeavors.

Matches Fashion previously operated both online and in physical stores in London. Frasers Group disclosed that Matches had been underperforming, reporting significant losses, including a £33.5 million loss in the fiscal year ending January 2023. Despite efforts to stabilize the business, restructuring challenges and substantial funding needs led to the decision to place Matches into administration.

Frasers Group assured its commitment to the luxury market and its brand partners despite the challenges faced by Matches.