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LVMH leads new round of funding for e-retailer Lyst
May '18
Courtesy: Lyst
Courtesy: Lyst
French luxury company LVMH is leading a new round of funding for Lyst, a fashion search platform. It is raising close to $60 million for the e-commerce firm and will provide about 45 per cent of the amount. The French company had also invested close to $40 million into the fashion e-commerce site about three years ago along with Accel and Balderton.

The new round is closing in 2 parts of $30 million each, with second closing in final stages. Lyst had also attracted funding worth $60.5 million, bringing the total sum the company raised to over $120 million, said media reports quoting market sources.

The funding will be used by Lyst to facilitate global expansion. US’ share in Lyst’s revenue is about 60 per cent, while Europe’s share in it is about 30 per cent. The remaining 10 per cent of the revenue of the company comes from Asia.

Lyst is currently available in English and French and its country-specific sites will also be launched in Germany and Spain in the near future. It is also planning to invest in product development to facilitate fashion product searches.

Ian Rogers, the chief digital officer of LVMH will become a board member of Lyst, as part of the deal signed between the two companies. (KD)

Fibre2Fashion News Desk – India

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