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Farfetch, Now Matches: Investors Eye Luxury eCommerce Sites – PYMNTS.com

Matchesfashion has officially changed hands.  Frasers Group, the British retail conglomerate, has acquired the luxury multibrand retailer for £52 million ($65 million) from private equity firm Apax Partners. Apax had purchased Matches in 2017 from its founders, Tom and Ruth Chapman, in a deal valued at $1 billion. This transaction unfolds amid the dramatic twists and turns of the online luxury retail arena. Just this week, Farfetch, a competitor of Matches, narrowly avoided bankruptcy with a rescue by South Korean retail giant Coupang. Coupang acquired Farfetch, previously valued at over $500 million.  With the acquisition deal in place, Farfetch receives a $500 million injection to support… 

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