The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
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.
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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.
The Hood By Air co-founder’s ready-to-wear capsule for the Paris-based perfume and fashion house will be timed to coincide with the Met Gala in New York.
Revenues fell on a reported basis, confirming sector-wide fears that luxury demand would continue to slow.
IWC’s chief executive says it will keep leaning into its environmental message. But the watchmaker has scrapped a flagship sustainability report, and sustainability was less of a focus overall at this year’s Watches and Wonders Geneva.
The larger-than-life Italian designer, who built a fashion empire based on his own image, died in Florence last Friday.