What: Matches, the luxury fashion e-tailer, will permanently close at the end of this month, following its entry into administration earlier this year.

Why it is important: The closure marks the end of a significant player in the online luxury fashion market, highlighting the challenges faced by e-tailers in this sector.

Matches, the luxury fashion e-tailer, is set to close permanently on June 30 after its recent administration under Frasers Group, which had acquired it for around £50 million. Customers have been notified via email about the closure and an additional 20% discount on selected items for purchases over £200/€200/$250. Brands included in the offer are Zimmermann, Prada, The Row, and more. Founded by Ruth and Tom Chapman, Matches was once a key player in luxury online retail, alongside Net-A-Porter and Farfetch. However, the company faced significant challenges, exacerbated by the pandemic, leading to its eventual downfall. Despite Frasers Group's purchase and initial hope for a turnaround, the company could not be salvaged, emphasizing the difficulties in sustaining profitability in online luxury fashion retail.

Matches to shut down for good on 30 June