Portfolio

Lyst raises a new round of equity led by LVMH (Moët Hennessy Louis Vuitton)

MAY 24, 2018

Balderton portfolio company Lyst announced today that they have raised a new round of financing led by LVMH (Moët Hennessy Louis Vuitton), the world leader in high quality products. Balderton led Lyst's equity funding in 2014, and again in 2015.

Lyst allows customers to search and discover fashion online, offering the world's most comprehensive inventory of luxury and contemporary products. The platform brings together 12,000 brands and retailers including Fendi, Gucci, Net-a-Porter, Farfetch and SSENSE. Last year shoppers from over 120 countries used Lyst. In 2017, Lyst provided enhanced search services to more than 70 million fashion shoppers. The company is now profitable and has seen revenues grow over 400% in the past three years since it last raised funds.

This is a time of transformational change in the fashion industry.

Chris Morton, Co-Founder and CEO, Lyst.

“This is a time of transformational change in the fashion industry. The shift to digital has enabled Lyst to redefine how customers search and discover fashion online — today we’re already among the top sources of new customers for our partners around the world. Our success to date is based on marrying cutting edge technology with deep fashion expertise. We are thrilled that this will be further strengthened by our partnership with LVMH.” Chris Morton, Co-Founder and CEO, Lyst.

LVMH's Chief Digital Officer, and former Apple music executive Ian Rogers will be joining Lyst's board.

You can read more about the announcement in an in-depth news article in the Business of Fashion.

The story was also covered in the Financial Times 'LVMH’s Arnault makes further investment in Lyst in ecommerce push.'

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