Posted by Paula Darlison, 30 Apr 2015
April 30, 2015: Lyst, the fashion ecommerce platform, today announced it has raised $40 million in a Series C round of investment from LVMH’s controlling shareholder (Groupe Arnault), Accel Partners (investors in Facebook), Balderton Capital (YOOX Net-A-Porter Group), 14W (Everlane), DFJ Esprit and DFJ (Skype), and a New York based hedge fund.
Launched in 2011 in London, Lyst connects millions of shoppers globally with over 11,000 designers and stores – including:
- Alexander McQueen
- Alexander Wang
- Lane Crawford
- Neiman Marcus
- Saks Fifth Avenue
1 checkout : $400 Average Order Value
Significantly, Lyst was the first to launch a universal cart in the fashion space, enabling shoppers to check out from multiple retailers in a single, unified checkout.
Lyst now generates hundreds of millions in sales for the fashion industry and has grown over 300% year on year for the past three years.
154 countries have shopped on Lyst in the last 3 months
This investment will support Lyst’s continued internationalisation as the universal cart technology is rolled out globally. It will also fuel the company’s growth across its teams in London and New York.
Growth in sales (run-rate) $40M(12 months ago) $150M(today).
“This is an exciting time in our space and we are very proud to be at the centre of it. Our model has grown exponentially in the USA and UK, and this round of funding allows us to take Lyst to fashion consumers around the world. We are already seeing a higher conversion by as much as five times through our universal cart – its widespread adoption by the industry’s leading brands and stores is a testament to the unique platform we have built and the volumes of sales it is
generating.” Chris Morton – Co-Founder & CEO.
Lyst is an innovative way to shop for fashion online that’s used by millions every month. Lyst partners with the world’s greatest fashion designers and stores to provide people with a personalised way to discover the fashion they love. The level of service, intelligence and insight that Lyst provides to its users and partners comes from analysing over 4.5 million points of fashion data every hour – from product changes and user behaviour to sales and active browsing. Lyst has raised $60 million to date, and is backed by range of all-star investors including 14W (Moda Operandi, Reformation), Accel Partners (Facebook, Spotify), Balderton (Yoox Net-A-Porter Group), DFJ Esprit and DFJ (Skype), and the teams behind LVMH, Michael Kors, Oscar de la Renta, and Tory Burch.
Head of Brand & Communications
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