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// Former ASOS boss Nick Beighton is set to be named as the new chief executive of Matchesfashion
// Beighton will succeed Paolo De Cesare, who joined Matchesfashion less than a year ago as CEO
Matchesfashion is set to welcome its fourth chief executive officer in five years as it prepares to name ex-Asos boss Nick Beighton.
According to a report from Sky News the appointment will be officially announced on Tuesday, as Beighton is drafted in by the luxury online retailer to revive its performance.
Beighton will be replacing Paolo De Cesare who joined Matchesfashion less than a year ago, as CEO.
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Matchesfashion was acquired in September 2017 by private equity firm Apax Partners at a reported valuation of $1 billion and it is said that that the appointment of the new CEO is likely to come with an injection of further capital into the firm by Apax.
However, Sky added that details of the funding hadn’t been finalised as of Monday.
According to industry sources, Apax now wants another change of direction with someone more focused on digital, once again.
Beighton stepped down last year as CEO of online fast fashion giant Asos after over a decase, having transformed the platform into a £4 billion operation.
“I have enjoyed every moment of my 12 years at Asos,” he said at the time.
“When I joined, there were fewer than 200 people and we had annual sales of around £220 million.
“I leave a business reporting turnover of almost £4 billion, with more than 3000 fantastic Asos-ers delivering for 26 million customers in 200 markets around the world.”
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