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London-based global fashion platform Lyst raises £60mn

17
May '21

Pic: Casimiro PT / Shutterstock.com

Lyst, a London-based global fashion aggregator that operates an inventory-free platform, has raised £60 million in its funding round to invest in the growing business, ahead of its impending IPO. The new investors include Fidelity International, Novator Capital, Giano Capital and C4 Ventures, along with the existing ones like LVMH and Draper Esprit.

The company said it is a pre-IPO round of financing, but has not shared any other details about the same, according to British media reports.

“Lyst is rapidly becoming a fashion category leader, which hundreds of millions of fashion lovers rely on to decide what to buy. While our app and website already enjoy very large audiences in the US and Europe, fashion e-commerce remains under-penetrated in general, with huge growth potential globally. We’re excited to use this raise from top-tier investors to continue personalising the fashion shopping experience to each of our millions of customers, while helping our partner brands thrive,” Lyst’s chief executive and founder Chris Morton said in a statement.

Lyst witnessed a strong growth during the COVID-19 pandemic and currently has over 150 million shoppers. It offers an assortment of 8 million products by 17,000 brands and retailers including Balenciaga, Balmain, Bottega Veneta, Burberry, Fendi, Gucci, Moncler, Off-White, Prada, Saint Laurent and Valentino.

Fibre2Fashion News Desk (KD)

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