Royal Wedding gives Matchesfashion a boost

Online luxury retailer Matchesfashion enjoyed bumper sales growth at the weekend, as fashion fans sought out the designer labels on show at the royal wedding.

The firm’s boss Ulric Jerome said occasion dress sales more than doubled from a year earlier, with strong demand for brands such as Givenchy, Emilia Wickstead and The Vampire’s Wife (worn by actress Charlotte Riley who attended the nuptials with husband Tom Hardy).

Revenues rose 44% to £293 million in the year to January 31, helped by a jump in orders from the US. A majority stake in the company was last year sold to funds advised by Apax Partners, netting founders Tom and Ruth Chapman around £400 million.

Pre-tax profits rose to £19.6 million from £10.9 million.

Jerome said: “The global online luxury market is seeing strong growth but penetration is still very low, so the opportunity is huge. We continue to accelerate profitable growth in our international markets and we see that momentum continuing throughout 2018.