Matchesfashion.com strikes progress with sales jump

Online luxury retailer Matchesfashion struck a bullish tone on Monday as it unveiled a surge in sales and shrugged off the threat to consumer spending of Brexit and Donald Trump’s victory.

The firm, which stocks brands including Chloé, Alexander McQueen, Gucci and Jimmy Choo, said turnover in the year to January 31 rose to £126.9 million from £99.6 million a year earlier. At peak times, an order was taken every seven seconds.

Founders Tom and Ruth Chapman opened their first boutique in Wimbledon in 1987 and were the first retailers in the UK to stock Prada.

The online business now ships to 167 countries and there are four London shops.

On global political uncertainty, a spokesman said: “Because we offer customers five currencies and pay for our stock in three main currencies, we actually have a natural hedge.”

Losses fell to £1.7 million from the £5.6 million incurred when the firm invested heavily in technology and the retailer said trading had been unchecked by the Brexit vote.

It doubled the size of its London headquarters in the summer with a relocation to The Shard from Clapham.