Business of Fashion Uncategorised

MatchesFashion Hires COO From Farfetch as Leadership Shuffle Continues

Stuart Hill, Farfetch’s senior vice president of logistics since four years, will join MatchesFashion as chief operating officer in September.

The hire follows the appointment of former Asos chief Nick Beighton as MatchesFashion’s new CEO last week.

Beighton, who will be the company’s fourth chief executive in under five years, will need to accelerate growth at MatchesFashion, which was acquired by Apax Capital in 2017 at a valuation reported to be north of $1 billion.

MatchesFashion has yet to report earnings since disclosing that losses had widened to $50 million in its fiscal year ending January 2021. Former CEO De Cesare has said the business returned to strong double-digit growth after revenues fell during the pandemic, but sales are still likely far behind Apax’s expectations. The company was enjoying growth rates above 60 percent prior to its acquisition.

Incoming COO Hill was a founder of two logistics companies before going on to work closely with Beighton at Asos, prior to his time at Farfetch.

Learn more:

Ex-Asos Chief Nick Beighton to Lead MatchesFashion

MatchesFashion’s private equity owners are struggling to improve performance in line with a $1 billion valuation.