MatchesFashion CEO exits

MatchesFashion.com has bid goodbye to its Chief Executive Officer, Ulric Jerome. A formal announcement has not yet been made, but sources say the company’s Chief Operating Officer Tom Athron and Chief Financial Officer Fiona Greiner will take over his role in the interim.

The Apax Partners-owned company sees Jerome’s departure amid a competitive and challenging e-commerce environment for luxury brands. Jerome has been at the helm since 2015 when MatchesFashion.com founders Ruth and Tom Chapman were appointed as joint chairmen.

Last year MatchFashion.com recorded revenue of 293 million pounds compared to 204 million pounds in the previous year, a rise of 43.7 percent. Under Jerome’s tenure the company grew its e-commerce to account for 95 percent of revenue, with the remainder from its three London boutiques.

Jerome also oversaw the investment of a 500,000 sq ft distribution hub near Heathrow, to achieve its target of handling around four million shipments a year by 2020.

Last year the company invested in a 24,000 sq ft hub and creative studio space in East London, away from the company’s headquarters in The Shard.

MatchesFashion.com was founded in 1987 as a stand-alone boutique in Wimbledon, London. It currently lists over 450 designer brands and delivers to 176 countries.