CEO exit: Ulric Jerome leaves Matchesfashion.com
today Aug 24, 2019
Ulric Jerome is leaving Matchesfashion.com, the luxury physical-to-digital retailer that he has led as CEO since 2015. It’s not yet known who’ll replace him and no reason for his departure has been given. His role until a new CEO joins will be handled jointly by COO Tom Athron and CFO Fiona Greiner.
Working alongside founders Tom and Ruth Chapman (co-chairs until 2017), the highly-regarded executive, who has numerous other business interests, oversaw some major milestones for the company. Most notable were its expansion to become one of the leading names in luxury e-tail, its launch of a dedicated French site, the launch of its express delivery service, expansion in Hong Kong and a new photographic studio in East London.
Apax paid £800 million for its controlling stake in the company, which was seen as a premium price at the time. There had been speculation that any successful bidder would have to pay around £600 million.
And the last results Matchesfashion announced, back in May 2018, saw the firm's revenues surging 44% and profits up 34%, while 82% of its business was generated outside its home market, the UK. The company has released no results since then.
In a statement regarding Jerome’s exit, Matches board member Gabriele Cipparrone paid tribute to his role in building the company into a global digital organisation.
Although he became CEO in 2015, he first joined the company in 2013 when it was still owned by the Chapmans.
Since then it has grown fast and, along with rivals Net-A-Porter and MyTheresa, continued to develop the template for luxury online retail, a segment that’s still evolving.
Today, the business, which was founded in 1987, sells 400+ brands globally via its webstores and operates four London stores, plus its townhouse.
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