Fashion retailer Matchesfashion.com announced a 44 percent rise in sales in 2017, after strong growth in the online luxury market.

Operating profit for the full year grew 34 percent to £26 million, with sales hitting £293 million for the 2017 year.

The company are based online and their strategy revolves around reaching customers through the internet.

Chief executive Ulric Jerome, said: “The global online luxury market is seeing strong growth but penetration is still very low, so the opportunity is huge.

“We continue to accelerate profitable growth in our international markets and we see that momentum continuing throughout 2018.”

Last year the husband and wife team who started the business sold a majority stake in the company to Apax partners for £800 million. Tom and Ruth Chapman, its founders, continue to hold minority stakes and have retained advisory roles at the company.