Matches Fashion is set to return to the UK market after being bought by the founders of luxury shopping app Mile following its collapse into administration last year.
Entrepreneurs Joe Wilkinson and Mario Maher have acquired the high-end retailer alongside its own-brand fashion label Raey, according to Vogue Business.
The purchase marks a revival for the luxury brand, which entered administration in early 2024.
The pair said the relaunched business will take a new direction while retaining key elements of its original identity.
TRENDING
Stories
Videos
Your Say
Mr Maher told Vogue Business: "It will be different from what it was. It will definitely have a new angle".
The duo founded the Mile luxury shopping application six years ago and have since established a new luxury group called Hulcan, which will house Matches Fashion and Raey.
Matches collapsed into administration in March 2024 after Frasers Group moved to place the business into insolvency proceedings.
The move came just three months after Frasers acquired Matches from MF Intermediate Limited - a subsidiary of private equity firm Apax Partners.
Matches Fashion to return to UK market after Mile founders buy brand post-administration collapse
|GETTY
The rapid collapse followed years of financial difficulties and left customers, designers and suppliers uncertain about the future of the retailer.
Matches, which built a reputation for curating high-end designer collections and working closely with luxury fashion houses, was known for its exclusive product offerings and editorial-led approach to online luxury shopping.
Administration brought an immediate halt to trading, ending decades of operations in the UK luxury retail sector.
The acquisition means Matches Fashion and Raey will both sit under the Hulcan group structure with the new owners planning to bring both brands back to market in 2026.
Although no specific launch dates have yet been confirmed, the two said further details of the relaunch strategy will be announced in the New Year.
LATEST DEVELOPMENTS:
No specific launch dates have yet been confirmed.
|GETTY
Mr Maher said the intention is to preserve what originally made Matches successful.
He told Vogue Business: "We want to keep the heritage of Matches and what everyone knew Matches for: curation, exclusivity, and strong product.
"We'll still keep that core".
Mr Wilkinson said the acquisition marked an important step for the business.
The relaunch will place Matches back into a competitive UK luxury market
|Wikimedia Commons
"This is a big moment for us. We're bringing brands, media, and technology together into one ecosystem built for the future of luxury," Mr Wilkinson said.
"We're not just building places to shop. We want to shape how people discover, experience, and connect with brands."
He continued: "With the backing of our investors and partners, we're stepping into this next chapter with real momentum."
The pair have not yet confirmed whether the brand will return as a physical retailer, online-only platform, or a hybrid model.
Our Standards: The GB News Editorial Charter
More From GB News