UK-based Matches undergoes name change to online store's URL
Digital re-branding for the famed designer store
The fashionable duo, who are also the joint chief executive officers, wanted to align their luxury boutique with the company's growing e-commerce presence. Changing the name of a store that's been well established in the London retail market since it's debute in 1987 to the name of its URL, is a testament to the growth of internet shopping and where priorities lie in today's retail world.
"We're no longer a brick-and-mortar business," Ruth told a source, "We're an e-commerce business with a brick-and-mortar marketing opportunity."
Matches, or rather 'Matchesfashion.com' — which sells over 350 luxury labels — launched its website back in 2007, mainly as a unifying platform for the individual stores while catering to its international customer who wanted to shop Matches while in the comfort of their home.
The online store has quickly overtaken the physical one, with the e-commerce site now accounting for 70 percent of the company's overall business and net revenues for 2013 in over $130 million. Over the last quarter, matchesfashion.com has brought in an average of three million visitors a month.
The website ships to 195 countries, with the U.K. as its number-one market, with 40 percent of the volume. Number two is the U.S., accounting for 20 percent of the online business, though the Chapmans are eager to change that and become one of the main international fashion e-tailers.
The 25-year-old British family-owned store — located in one of the world's most international cities — has access to an extensive global market, which the Chapmans will continue to engage. "Doing e-commerce and doing e-commerce properly is a lot of work," stated Tom. "We said, 'We've got to make a decision."
And the descision is digital...