Matchesfashion has made an official announcement regarding a change in leadership, with Nick Beighton, the former CEO of ASOS, stepping in as the new CEO. Paolo De Cesare, who joined Matchesfashion just last year, will be transitioning out of his role throughout July, while Beighton will assume the position in August.
De Cesare is leaving the company to explore new opportunities, although details of his future endeavors have not been disclosed. However, he expressed his satisfaction with the progress made during his time at Matchesfashion, highlighting the improved relationships with luxury brands and the recruitment of new talent.
Beighton left his post as CEO at ASOS in October 2020, having held the position since 2015. He played a vital role in the growth of the online fashion retailer, taking revenues from £178 million and a staff of 150 people to reaching £3.9 billion in revenues and employing 15,000 individuals. Prior to his tenure at ASOS, Beighton served as the Head of Finance and an executive board member at Matalan, where he oversaw business change and technology. Additionally, he currently serves as the part-time Chairman of Secret Sales, a rapidly expanding company.
In a statement, Beighton expressed his admiration for Matchesfashion and its pioneering role in the luxury e-commerce sector. He believes that there is still untapped potential within the company and aims to bring his experience in technology, product, logistics, and culture to his new position as CEO.
Apax, a company with a controlling stake in Matchesfashion, praised Beighton’s appointment and expressed gratitude to De Cesare for his accomplishments. Tom Hall, a partner at Apax, highlighted Beighton’s expertise in online retail, which makes him an ideal candidate for the CEO role.
While Matchesfashion has faced challenges in recent years, under De Cesare’s leadership, the company has shown signs of improvement. Its latest financial results for the year ending January 2021 indicate progress despite being in a loss-making position.
Beighton’s experience at ASOS, where he successfully navigated difficult external factors, including the COVID-19 pandemic, positions him well to tackle any challenges that may arise for Matchesfashion. With his proven track record in the fashion retail industry, there is optimism that he will continue to drive growth and success for the company.
Useful links:
– Matchesfashion
– Secret Sales
