In the current luxury e-commerce landscape, we find ourselves talking about both Yoox Net-a-Porter Group and Farfetch a lot. Whether one is getting acquired by a major conglomerate or another is touching down in the Middle East, both YNAP and Farfetch continue to build their respective cases for world retail domination. But there's another online player, Matchesfashion, that's quietly making gains to become a viable contender in the race, too, and it shouldn't discounted.
On Monday, the London-based fashion site reported a major development on that front: In the 12 months leading up to January 31, 2018, Matchesfashion saw full-year revenues increase 44 — forty-four! — percent to £293 million (roughly $394 million), with EBITDA (essentially net income, or earnings before interest, taxes, depreciation and amortization) also up 37 percent to £26 million ($35 million).
Much of this boost, Matchesfashion states, was due to its international expansion; mainly, its growth in the U.S. Stateside sales led globally, seeing a 54-percent increase year-over-year, making it Matchesfashion's largest country by revenue. This is especially noteworthy when considering that 82 percent of the retailer's online business was generated outside of its U.K. homebase. (Though 95 percent of Matchesfashion's business is online-oriented, it also operates four brick-and-mortar stores across London and has plans to open an experiential townhouse in the city's Mayfair area this September.) Website visits also increased last year by 36 percent to 75 million, to be exact.
Meanwhile, the average online order last year came in at a reported £542 ($727) which, conveniently, affords you just about one (1) Gucci belt bag.