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The British luxury retailer has been accumulating losses for several years. Nick Beighton, the company’s new CEO, is confident he can turn it around and propel it forward, with ambitious prospects.
Matchesfashion reported a loss of £23.8 million in the year ended January 31. According to the company, the Brexit created additional costs in rights and operations and that the effects of the pandemic were felt throughout the period.
The former CEO of Asos, who succeeded Paolo De Cesare this summer at the reins of Matchesfashion, is responding to these losses. Among other things, he plans to transform the retailer into a one-stop shop. He wants to target a wider and more diverse range of luxury customers, attract a younger clientele and strengthen the site’s product offering.
With a strong background in management and leadership before landing at Matchesfashion, Nick Beighton ran the e-commerce giant Asos. It’s like having gold in his hands. He helped grow the company from £178 million and 150 people when he started to £3.9 billion and 15,000 people when he left in 2021.
Matchesfashion, owned by Apax Partners may have found its savior in Nick Beighton. Let’s hope for the retailer that this time the casting is good. Indeed, his appointment is the fourth CEO position in the last five years.
Beighton wants to use his experience and lessons from Asos to achieve the same level of growth in what he describes as the “turnaround” of Matchesfashion.
In a statement, Tom Hall, partner at Apax and board member at Matchesfashion notes the company’s “privilege” to have recruited a CEO like him, before adding, “Nick is a proven operator with phenomenal knowledge of online retail.”
Ambitions that are good
Among other things, the new executive envisions a focus on the U.S., which he identifies as the luxury retailer’s fastest-growing market, as well as sustainability measures. With a strong demand for environmentally friendly practices among young consumers, he wants to listen to customers and take the company to new heights.
A lover of luxury and fashion, Nick Beighton says he has long been an “admirer of Matchesfashion,” which he believes is a pioneer in the industry. According to him: “It has become the place to be for luxury fashion online, but its potential is still huge. Using technology, product, logistics and culture, I have helped to disrupt existing consumer models and galvanize change in organizations. I hope to bring those skills to my new role.”
To fine-tune the leadership team, the retailer has appointed Frasers Group brand manager Carl Tallents as chief commercial officer since September and as chief operating officer Stuart Hill, who was previously responsible for logistics at Asos and Farfetch.
A young and vigorous team that promises to boost the company’s turnover while bringing modernity.
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The British luxury retailer has been accumulating losses for several years. Nick Beighton, the company’s new CEO, is confident he can turn it around and propel it forward, with ambitious prospects.
Matchesfashion reported a loss of £23.8 million in the year ended January 31. According to the company, the Brexit created additional costs in rights and operations and that the effects of the pandemic were felt throughout the period.
The former CEO of Asos, who succeeded Paolo De Cesare this summer at the reins of Matchesfashion, is responding to these losses. Among other things, he plans to transform the retailer into a one-stop shop. He wants to target a wider and more diverse range of luxury customers, attract a younger clientele and strengthen the site’s product offering.
With a strong background in management and leadership before landing at Matchesfashion, Nick Beighton ran the e-commerce giant Asos. It’s like having gold in his hands. He helped grow the company from £178 million and 150 people when he started to £3.9 billion and 15,000 people when he left in 2021.
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The British luxury retailer has been accumulating losses for several years. Nick Beighton, the company’s new CEO, is confident he can turn it around and propel it forward, with ambitious prospects.
Matchesfashion reported a loss of £23.8 million in the year ended January 31. According to the company, the Brexit created additional costs in rights and operations and that the effects of the pandemic were felt throughout the period.
The former CEO of Asos, who succeeded Paolo De Cesare this summer at the reins of Matchesfashion, is responding to these losses. Among other things, he plans to transform the retailer into a one-stop shop. He wants to target a wider and more diverse range of luxury customers, attract a younger clientele and strengthen the site’s product offering.
With a strong background in management and leadership before landing at Matchesfashion, Nick Beighton ran the e-commerce giant Asos. It’s like having gold in his hands. He helped grow the company from £178 million and 150 people when he started to £3.9 billion and 15,000 people when he left in 2021.
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