the descent into hell of multi-brand e-commerce sites

the descent into hell of multi-brand e-commerce sites
the descent into hell of multi-brand e-commerce sites

Valued at more than 900 million euros in 2017, Matchesfashion filed for bankruptcy on March 8.
Kaspars Grinvalds – stock.adobe./Matches/Photomontage Le Figaro

DECRYPTION – Failures are increasing in this segment, long considered promising. Independent platforms are victims of the takeover of their online sales by big brands.

Less than three months. This is the time it took for the British group Frasers (Sports Direct, Everlast, Flannels department stores, etc.) to realize the seriousness of the state of health of Matchesfashion, its luxury goods e-commerce subsidiary. Purchased in December from the Apax Partners fund for 60 million euros, the company, since renamed Matches, filed for bankruptcy on March 8. With the result being 273 layoffs among the 533 employees of the company (which has one site and three physical stores), now looking for a buyer. In question : significant losses » recorded by its subsidiary, according to Frasers, although it is accustomed to taking over companies in difficulty.

Since the recovery, the company has systematically missed the objectives of its business plan, continues its short-lived shareholder. It became clear that too many changes would be required to restructure it, and ongoing funding requirements would far exceed what the group considered…

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