Lyst pulls up pre-IPO round as users spike to 150m
Lyst, the world’s leading fashion platform, today announced $ 85 million in pre-IPO funding.
New investors in funding include certain funds managed by Fidelity International, Novator Capital, Giano Capital and C4 Ventures, as well as existing investments such as Draper Esprit, Steadfast Financial, 14W, Accel, Balderton Capital, Venrex and LVMH. Lined up with the house. In addition, serial entrepreneur and strategic adviser Carmen Busquets has increased his investment in the company.
Lyst will continue to grow strongly in 2020, with over 150 million shoppers using the Lyst app and website to purchase from an assortment of over 8 million products from 17,000 brands and retailers. Did. GMV surpassed $ 500 million last year after a 1100% increase in new users of the Lyst app. Lifetime GMV is currently over $ 2 billion.
“”Lyst is rapidly becoming a leader in the fashion category, relying on hundreds of millions of fashion lovers to decide what to buy.Our apps and websites already enjoy a huge audience in the US and Europe, but fashion e-commerce is generally under-populated and has grown significantly.
Global potential. We are excited to take advantage of this funding from top investors to continue to personalize the fashion shopping experience for each of our millions of customers while helping our partner brands thrive... “
Lyst, CEO and Founder, Chris Morton
“”Lyst is an industry-leading app for the fast-growing online luxury fashion market and has made great strides over the past year. This trend is likely to continue as consumers maintain their newly discovered digital habits and further demand for fashion after the pandemic. In recent years, we have seen other high-growth fashion technology businesses take the next step. Lyst believes it is in a good position to take advantage of the momentum of this market. Draper Esprit has been supporting Lyst since Series A and believes this latest round will prepare the business for an exciting next phase. ” Nicola McLafferty, Partner, Draper Esprit
In addition, Lyst announces:
Mateoland He joined the Lyst team as Chief Product Officer and was Global Product Director for Mobile Apps on Spotify. Mateo focuses primarily on the Lyst app, the world’s most downloaded premium fashion iOS app last quarter.
Emma McFerrand He will be promoted to Chief Operating Officer, will join the board of directors, and will be responsible for the company’s strategic planning, finance, human resources and legal affairs. Emma previously served as Chief Human Resources Officer and General Counsel and joined the list in 2014.
“”Lyst is building the future of fashion shopping with a highly personalized, data-driven approach. With the explosive growth of fashion e-commerce over the last few years, more and more people are managing their entire online shopping journey. We are excited to join the team and provide a truly personalized experience while balancing the chaos and beauty of fashion culture... ” Lyst, Chief Product Officer, Mateo Rando
Lyst is a fashion technology company based in London. Over 150 million shoppers use Lyst each year to buy the most comprehensive products of the world’s leading fashion brands and retailers. Lyst’s brands include Valentino, Balenciaga, Bottega Veneta, Burberry, Fendi, Gucci, Moncler, Off-White, Prada, Saint Laurent and Valentino. Lyst operates an out-of-stock platform and uses a unique data engine to provide each customer with a highly personalized shopping experience. Thousands of brands and retailers have partnered with Lyst to drive meaningful sales in a credible branding environment. Last year, Lyst partnered with Good on You. It is an organization that helps shoppers make informed purchase decisions by assessing companies based on social and environmental factors. Lyst is also a unique source of fashion data insights and is responsible for The Lyst Index, the industry-leading report for the world’s most popular brands and products.
Diversity and inclusion are an integral part of our culture. We recognize and congratulate the value and impact of diversity on us and promise to ensure that this is a consistent focus. In the previous quarter, we exceeded our BAME-background hiring target by 25 percentage points.
Lyst secures £ 60m in Series D investments from investors including Fidelity International – UK Tech Investment News
Source link Lyst secures £ 60m in Series D investments from investors including Fidelity International – UK Tech Investment News