The iconic Matches townhouse in Mayfair begins a new era with the arrival of Issey Miyake, marking a strategic milestone in London.
The transformation of historic 5 Carlos Place enters a new chapter. After months of speculation over the future of the landmark building that once housed the legendary Matches Townhouse, it is now confirmed that Issey Miyake will take full control of the space from 2026, signalling one of the most strategic moves within London’s luxury landscape.
The property, owned by Grosvenor, had remained in limbo since the collapse of Matches under Frasers Group, which pushed the digital retailer into administration and left numerous brands with unpaid invoices. Although the company was recently sold to the founders of Mile, its historic Mayfair headquarters was excluded from the deal, opening the door to a new chapter for one of the West End’s most coveted locations.
Over the past two years, Grosvenor has used the space for high-level cultural and commercial initiatives — from exhibitions driven by the Sarabande Foundation (linked to the legacy of Alexander McQueen) to exclusive events during Frieze London. Yet the site remained widely known as the “Matches house”, an enduring symbol of the golden era of experiential retail in the city.
The arrival of Issey Miyake completely redefines its purpose. The Japanese house will transform the building into a hybrid centre functioning as its London headquarters, retail space and VIP client hub, strengthening its commitment to a selective physical presence aligned with its philosophy of design and experimentation.
Meanwhile, the digital rebirth of Matches progresses along its own path. Under the umbrella of the new Hulcan Group, backed by investors including Frasers Group, LVMH Luxury Ventures and the Hermès family, the brand is preparing to relaunch in 2026 as an online-only platform. Its in-house label, Raey, will also be integrated into this structure, which aims to fuse commerce, culture and fashion within a single ecosystem of contemporary luxury.
The future of premium retail continues to be rewritten, and the takeover of the iconic townhouse by Issey Miyake confirms that London remains a strategic point for brands seeking to combine sophistication, experience and cultural presence with a global vision of the luxury market.
