Luxury multichannel retailer Matchesfashion.com has agreed a sale of a majority stake in the business to private equity house Apax Partners with founders Tom and Ruth Chapman stepping back from the business to take on an advisory role.

The Chapmans, who founded the business 30 years ago, will remain shareholders and existing venture capital backers Scottish Equity Partners and Highland Europe, who bought into the business five years ago, will retain minority stakes. The deal is expected to close in Q4 of this year.

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