Luxury shopping destination Matchesfashion.com is planning to open a new retail concept space over six floors in the heart of Mayfair, London. The site will include two floors of retail, an events space and three floors of private shopping suites.
Located at 5 Carlos Place, the concept space aims to merge the company’s three customer touchpoints (the In Residence events, the retail store, and the private shopping townhouse) and create a physical experience that is linked to the brand’s digital world.
“5 Carlos Place is an opportunity to bring a sense of fun and enjoyment back into physical retail, to collaborate with partners and have conversations that create a sense of community and inspire our customers,” says executive chairman Tom Chapman.
Not a traditional retail space
The retail floors will showcase a curated edit of the platform’s online offering, highlighting emerging brands and exclusive collaborations, however the space will be far from traditional. There will be no set fixtures such as wall mounted rails, shelves or cash desk, allowing the space to completely interchange and evolve to reflect different installations or events.
The store will also use a number of digital features to create a seamless omnichannel experience, such as the Matchesfashion.com mobile POS app, which logs every interaction with individual customers enabling the brand to bring personalisation into the physical world. Additionally, iBeacon technology will link the customer mobile devise directly to the product onsite enabling “Add to Basket” and “Wish List” functionality.
Embracing private shopping
5 Carlos Place will enhance Matchesfashion’s Private Shopping service, which was launched six years ago at No.23, the company’s townhouse in Marylebone. A team of in-house stylists will offer private appointments for bespoke requests, from creating a new season wardrobe brunch and shopping for a group of friends, to helping a husband find the perfect anniversary present; or organising for a customer to meet a specific designer and commission a unique piece.
Stylists will use mobile tech to select product from the firm’s central warehouse and see the full availability across the business according to the brief of each individual customer. But personalisation won’t stop there: after the appointment, stylists will be able to send dedicated personalised product emails enriched with recommendations based on algorithms and predictive analytic tools.
A permanent home for the In Residence series
Finally, the space will give the company’s In Residence events a permanent physical home in London. The initiative, launched to celebrate the 30th anniversary of Matchesfashion.com, creates opportunities to showcase the best established and emerging designers and host a series of panel discussions and lifestyle workshops. The content will be shared with the people who attend the events, but also the 70 million customers who visit the online platform through live streaming, video and social channels.
Matchesfashion.com said 5 Carlos Place reinforces its transformation from a bricks-and-mortar retailer to a global luxury commerce business. Today 95% of its revenue is generated via digital and of that, 85% is outside the UK. In the year to January 2017 Matchesfashion.com reported revenue of £204 million and EBITDA of £19 million.