Lyst

Lyst is a fashion technology company and online shopping platform that connects shoppers with over 17,000 leading fashion brands and retailers worldwide. The company's proprietary data engine and search technology provides personalized shopping experiences for its users, allowing them to discover and purchase the latest fashion items across categories like clothing, shoes, accessories, and more. Founded in 2010 and based in London, Lyst operates an inventory-free model, redirecting customers to partner brands' websites to complete transactions.

Lyst's platform leverages data science and machine learning algorithms to curate personalized product recommendations based on user preferences, browsing history, and search behavior. The company's technology also analyzes industry trends, consumer demand, and sales data to provide insights and forecasts to its brand partners through tools like the Lyst Index and Year in Fashion report.

As of May 2022, Lyst reported over 150 million annual shoppers browsing its catalog of 8 million products. In 2020, the platform facilitated over USD 500 million in gross merchandise value (GMV), with new user growth reaching 1,100%. By May 2021, Lyst's lifetime GMV surpassed USD 2 billion. The company's key monetization strategy involves charging commission fees to partner brands, typically ranging from 12% to 15% of each sale.

In May 2021, Lyst raised USD 85 million in a pre-IPO funding round led by investors like Fidelity International and LVMH, valuing the company at around USD 700 million. The funds were intended to support global expansion, product development, and brand marketing efforts.

Key customers and partnerships

Lyst has established partnerships with numerous renowned fashion brands, including Gucci, Valentino, Prada, Burberry, Fendi, Off-White, Alexander McQueen, Balenciaga, Balmain, Bottega Veneta, Moncler, Saint Laurent, and Valentino, among others. The platform also features products from popular retailers like Saks Fifth Avenue, J.Crew, Lane Crawford, and Neiman Marcus.

In 2018, LVMH, the world's largest luxury conglomerate, invested in Lyst and joined the company's board of directors, further solidifying Lyst's position in the high-fashion ecommerce market.