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Tuesday, June 22, 2021

International fashion platform Lyst raises £60 million funding

Lyst – an international fashion platform, has increased its number of clients into 150 million, while also raising £60 million funding. 

Lyst is an app and website that is accessible for clients to buy from a variety of more than 8 million products, all of which are part of 17,000 brands and merchandisers.

Gross Merchandise Value (GMV) exceeded by $500 millions just last year, ensuing 1100% increase in new clients on the Lyst app. Overall, GMV has more than $2 billion now.

New ventures such as Fidelity International, Giano Capital, C4 Ventures and Novator Capital had made it possible for other current investors such as Draper Esprit to be included in the round.

Balenciaga, Burberry, Fendi, Bottega Veneta, Valentino, Gucci, Prada, Saint Laurent are some of the brands which will be available in Lyst.

Lyst offers a restrictive data engine in order to give its users a customized shopping experience.

”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 USA & Europe, fashion e-commerce remains under-penetrated in general, with huge growth potential globally.” stated Chris Morton – CEO and founder of Lyst.

A partner at Draper Esprit, Nicola McClafferty also said: ”Lyst has made huge progress over the past year with its industry leading app for the fast-growing online luxury fashion market – a trend which looks set to continue as consumers retain their newfound digital habits, and demand for fashion rises further post-pandemic.”

Furthermore, McClafferty mentioned that they have hopes in Lyst and its capability to make the most on this market incitement. Apart from this, Draper Esprit has also supported Lyst since Series A, and this newest round is an essential step for the upcoming phase.

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