According to a report from Sky News, former ASOS chief Nick Beighton is set to become the new CEO of Matchesfashion. Beighton, who departed from ASOS last year, will be replacing Paolo de Cesare, the current CEO of the luxury online and physical stores retailer. Matchesfashion, which is controlled by Apax Partners, is looking to enhance its performance, and it is believed that the appointment of a new CEO will be accompanied by a capital injection from Apax.
Although the specifics of the funding are yet to be finalized, Apax’s involvement is expected to provide the necessary resources for Matchesfashion’s growth and improvement plans. De Cesare, who assumed the CEO role just 10 months ago, will be leaving the company to explore other opportunities. Matchesfashion has faced its fair share of challenges in recent years, including the impact of the COVID-19 pandemic and a subsequent decline in sales.
Beighton’s appointment as the new CEO is seen as a move towards stability for Matchesfashion, given his extensive experience in the field of online fashion retail. However, the article raises questions about how his concurrent role as Chairman of Secret Sales might affect his responsibilities at Matchesfashion.
It remains to be seen how Beighton’s leadership will shape the future of Matchesfashion, but his expertise and understanding of the e-commerce landscape are likely to be assets for the company. As Matchesfashion navigates the post-pandemic era, the injection of capital and the fresh perspective brought by Beighton could prove instrumental in revitalizing the brand.
Useful links relevant to the article:
1. Apax Partners: Official website of the private equity firm controlling Matchesfashion.
2. Matchesfashion: Official website of the luxury online and physical stores retailer.
