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Matches and Raey acquired by new luxury group Hulcan – report

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2 days ago

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December 17, 2025

So now we know what the intriguing holding page was all about for Matches. It seems the defunct online luxury retailer and its Raey own-brand have been acquired by a brand new luxury group.

The Raey brand is being revived alongside Matches

Two years after it went into administration and was bought by Frasers Group, Joe Wilkinson and Mario Maher have acquired it, Vogue Business reported on Wednesday.

They’re the founders of members-only shopping app Mile (formerly known as Heat), which is backed by LVMH. Matches, along with Mile, will be part of their new luxury group Hulcan.

Matches and Raey will be relaunched in 2026 with more details due in the New Year, the report said.

They told the publication that they were attracted by Matches’ heritage and its “curation, exclusivity, and strong product”. They want to keep that but also to introduce “a new angle”.

It looks like Raey will be a bigger part of the launch as it’s listed along with Mile and Matches as a separate brand on the Hulcan website.

Not that the website has much information at present, simply saying: “Hulcan is a founder-led luxury group that builds and operates innovative brands across media, e-commerce, retail and fashion for a new generation of consumers.”

The Vogue Business report also said that the company has funding of $150 million backed by Frasers Group, Palm Angels founder Francesco Ragazzi, PagsGroup, and Mile investors including Antler, LVMH Luxury Ventures, the Hermès family, Stefano Rosso and Carmen Busquets.

There has been a deluge of speculation about whether Matches would return after the much-loved business was closed by Frasers Group just a few months after it acquired it. And with the consolidation that’s been seen since in the luxury sector there could be a place for the revived business. The new owners certainly have some heavyweight players believing in them but we’ll just have to wait and see. 

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Coty sells residual stake in Wella to KKR

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57 minutes ago

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December 19, 2025

By


By

Reuters

Translated by

Nicola Mira

Published



December 19, 2025

On Friday, beauty giant Coty stated it has sold its residual 25.8% stake in haircare brand Wella to US investment firm KKR for $750 million. Coty has retained the rights to a share of any future sale of the brand, or any revenue accruing from an IPO.

Wella Professionals

Coty said it is entitled to a 45% share of any proceeds from a sale of or IPO for Wella, once KKR’s preferred return has been achieved, adding that it plans to use most of the initial liquidity to reduce its debt.

The Wella sale brings to fruition a plan Coty initiated in 2020, aimed at streamlining its portfolio and operations, and at maximising the value it can generate from the Wella business, Coty added.

Earlier this year, Coty embarked on a strategic review of its beauty business which could lead to the sale of brands such as Rimmel and CoverGirl. The group’s goal is to refocus on the fragrance segment in the face of persistently weak demand for colour cosmetics.

This year, Coty’s shares lost almost half of their value.

Coty was founded in 1904 in Paris, and is the fragrance licensee for labels like Gucci, Chloé and Burberry. According to LSEG data, the group’s market capitalisation is approximately $2.8 billion.

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UK retailers report fall in sales ahead of Christmas, CBI says

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December 19, 2025

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December 19, 2025

The UK’s official statistics agency released its November sales report on Friday and it wasn’t great. But perhaps more useful was the CBI’s holiday trading retail report as its showed how retailers are faring just about now.

Photo: Pexels/Public domain

And the news? Its distributive trades survey showed retailers are facing “bleak holiday trading as [the] sales outlook darkens”.

The survey is based on the weighted number of retailers who said sales fell, stayed static or rose, regardless of whether those rises or falls were big or small.

It showed that retail sales volumes fell “at an accelerated rate in the year to December, extending a period of weakness that began in mid-2023”.

And the New Year is “expected to start on a gloomy note for the retail sector. Retailers anticipate that annual sales will fall sharply next month, with expectations at their weakest since March 2021”.

Overall, a balance of 44% sales sales fall, worse than the 32% in November, with 57% expecting the downturn expected to deepen in January.

Sales for the time of year were judged to be “poor” in December, to a greater extent than last month (-31% from -20% in November). Next month’s sales are set to similarly disappoint against seasonal norms (-34%). 

Online retail sales volumes also declined at a moderate rate in the year to December, following two consecutive months of growth (-12% from +13% in November). Sales are expected to contract at a steep pace next month (-42%). 

Martin Sartorius, Principal Economist, CBI, said:  “Retailers reported that annual sales volumes fell rapidly in December, as weak consumer confidence contributed to softer trading conditions in the lead-up to Christmas. Firms do not anticipate any relief in the New Year, with sales expectations deteriorating to their weakest in over four years.”

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Victoria’s Secret first Nottingham standalone to open next year at Victoria Centre

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3 hours ago

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December 19, 2025

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December 19, 2025

Victoria’s Secret will be opening its first standalone store in Nottingham in the spring with the brand (which is operated in the UK by Next in a JV with its parent company) opening in Victoria Centre, the key East Midlands retail destination.

Victoria’s Secret

The new 6,000 sq ft store will be located on the Lower Level, joining an already-strong mix of international brands including Levi’s, Urban Outfitters and Rituals. The mall operator said the news “is a direct response to rising customer demand for a Victoria’s Secret store within the centre”.

The opening certainly makes sense with 63% of the mall’s visitor base being female and the very large student population in the city (there are 65,000 students there). 

The operator also said the mall is seeing a “growing number of affluent guests” and it’s focused on adding “high-performing brands that resonate with its core demographic and reinforce its position as the city’s number one retail destination”.

Victoria Centre, which also has a flagship John Lewis and Boots, has seen a brand refresh this year as part of SGS UK Retail’s strategy to upgrade its whole portfolio.

Rebecca Milnes-James of the mall’s asset manager Pradera Lateral said of the latest store opening news: “Victoria’s Secret choosing Victoria Centre for its first standalone Nottingham store is a powerful endorsement of the momentum we’re building. Our strategy is focused on elevating the centre’s premium mix and ensuring we put high-performing, in-demand brands in front of our loyal and diverse guests.”

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