Ex-ASOS boss Nick Beighton is named CEO at Matchesfashion

Ex-ASOS boss Nick Beighton is being named as the new chief executive at luxury online fashion retailer Matchesfashion, which sells high-end brands such as Gucci, Balenciaga and Yves Saint Laurent.

The appointment will be officially announced on Tuesday, as Beighton is drafted in by MatchesFashion’s private equity backers try to revive its lucklustre performance, according to a report from Sky News.

Beighton, who left ASOS last year, will be replacing Paolo De Cesare, who was named CEO of Matchesfashion just 10 months ago.

De Cesare, formerly boss of French fashion group Printemps, is leaving to pursue other opportunities.

READ MORE: Matchesfashion lost £36 million over the pandemic

Beighton’s appointment will make him the fourth person to take the lead at Matchesfashion in less than three years, highlighting the ongoing difficulties faced by the company under the ownership of private equity firm Apax Partners.

Apax – which paid $1bn for a controlling stake in Matches in 2017 – has made the changes as it demonstrates its ongoing commitment to the brand and looks to improve the platform’s financial and operating prospects ahead of an eventual exit.

Sources told Sky News that the appointment was expected to be accompanied by an injection of further capital into the business, although firm details remain unclear.

Beighton spent more than a decade at ASOS, helping to grow the company from a revenue of £178m and staff of 150, to sales of £3.9bn and a workforce of 15,000.

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