Across the world, legacy retailers are shutting down stores. Britain’s House of Fraser is closing 31 shops this year, affecting 6,000 jobs, while America’s J.C. Penney follows a round of 140 closures last year with another 8 in 2018. Why then has British online luxury retailer MatchesFashion.com cashed out on a new space in one of London’s most exclusive Mayfair postcodes?
Seventy-five million online shoppers visited Matches’ high-end e-commerce site last year to browse luxury labels like Gucci, Prada and Burberry. Now the digital-first retailer is opening up 5 Carlos Place, a five-story townhouse just minutes from Hyde Park.
The 7,000-square-foot Carlos Place isn’t just a shop (Matches already has four of those). Kicking off with a launch party hosted by Prada, the building will house more than 40 events in its opening months, including supper clubs, dance sessions and floristry classes. Celebrities and designers will also be invited to record podcasts in Matches own in-house broadcasting studio, while other guests may stop by to see the sculpture Matches commissioned from acclaimed British artist Nick Hornby, Matches Chief Brand Officer Jess Christie, told Forbes.