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Matchesfashion reports app success after another year of growth

Online luxury fashion retailer Matchesfashion.com has reported an annual year-on-year revenue increase of 44% to £293 million, and it said that the success of its shopping app is fuelling significant growth in mobile transactions.

EBITDA increased 34% from £19 million to £26 million, while average order value over the course of the year was £542 as high-end shoppers continued to use the website.

Some 82% of online business was generated outside of the UK, with sales in the US leading the way – increasing by 54% year on year and making it the largest country by revenue.

Website visits increased 36% over the 12-month period to 75 million, and 51% of online sales were generated via mobile.

Matchesfashion said that technology investment has been a fundamental driver in the company’s international growth, as well helping to enhance the customer experience and power social innovation. The retailer’s The Style Daily and The Style Social deliver unique daily content to users based on their preferences and the material is curated with the use of online chatbot technology.

In 2017, the business also launched local-language websites in French and Korean to further expand its international reach.

CEO Ulric Jerome remarked: “Our mission is to create the most personal luxury shopping experience in the world, underpinned by insight, technology and our unique fashion point of view.

“The luxury customer is driven by discovery and our aim at Matchesfashion.com is to inspire loyalty by constantly innovating and partnering with the best brands. We call it ‘luxury rewired’ and we’re investing at scale to meet these evolving customer needs.”

As reported by Essential Retail last week, Matchesfashion has appointed a new senior team, covering its commercial, technology and merchandising functions. It is also preparing to open both a new logistics centre and broadcasting hub later this year, having recently unveiled a new creative studio in east London.

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