Plus: How we changed the way we shop
| | | By Lisa Armstrong Head of Fashion | | Back in February a group of fashion designers drove to a warehouse in London in a desperate attempt to get their stock out. The warehouse belonged to Matchesfashion, once one of the most revered names in retail – a platform that, as one designer told me, was as important as a page in American Vogue. More so, perhaps, because it was also a big revenue source for those who sold on it.
Behind the scenes, the walls were crumbling. Mike Ashley of JD Sports bought Matches at the end of last year for less than a fifth of its value in 2018. It’s not just Matches that struggled. From Burberry to the Kering and LVMH group, profits at luxury businesses are down, jobs are being shed and consumers see less choice, higher prices and ever-soaring waste. I spoke to several insiders to get a fuller picture of everything that has gone wrong and what might save the situation.
Meanwhile, some of us are as addicted to status symbols as ever. Roll your eyes, or observe with wry amusement as Tamara Abraham targets the holiday status symbols of 2024.
Until next time, Lisa | | | | We’ve changed the way we shop – and the fashion world isn’t keeping up | | Tom and Ruth Chapman founded Matches in 1987 | The collapse of Matches and a downturn across luxury retailers heralds the end of an era... and the beginning of a much needed reset | | | | | One whole year. Just £39. Stay expertly informed and advised as the future unfolds. Unlock unlimited access to telegraph.co.uk with a Digital Subscription, plus the latest news updates and the daily digital newspaper in our app. | | | | | On Lisa’s recommendation | | Whatever other protective measures you take this summer, I highly recommend a big old sun hat. It also adds some oomph to your outfit. This one, from & Other Stories, is £35. | | | | | My husband’s fitness obsession has taken over our lives | | Our reader's husband wants to be fitter, but his personal Olympics means he rarely does any housework | | | | | Six sex tips from Dr Ruth that stand the test of time | | Celebrity sex therapist Ruth Westheimer has died at the age of 96. We round up some of her top sex tips that have helped couples for decades | | | | | How a private education can save families hundreds of pounds on holidays | | Those who pay for school are on holiday right now – the savvy ones anyway | | | | | Other newsletters you may like... | The Live to 100 Exercise Plan | A four-week newsletter series to help you live longer through exercise. | Sign up | | | | Culture | A guide to enjoying the arts, from books to box-sets. | Sign up | | | | Travel | Destination guides, travel advice and the latest news from our experts around the world. | Sign up | | | | | | | We have sent you this email because you have either asked us to or because we think it will interest you. Update your preferences For any other questions, please visit our help page here. Any offers included in this email come with their own Terms and Conditions, which you can see by clicking on the offer link. We may withdraw offers without notice. Telegraph Media Group Limited or its group companies - 111 Buckingham Palace Road, London SW1W 0DT. Registered in England under No 451593. | | |