LYST
SHOPS AND E-COMMERCE
LYST, ONLINE PLATFORM FOUNDED IN 2010 IN LONDON BY CHRIS MORTON AND SEB TREPCA
Lyst was born in a small place in Shoreditch, London with the aim of creating a platform capable of making everyone find all the fashion items they have always wanted. To create the app, entrepreneur Chris Morton launched the London venture capital fund Balderton Capital in 2010.
It joins the offer of more than 830 stores all over the world such as Yoox, Mytheresa, Luisaviaroma but also the flaships of the brands. While in Italy it gives access to 675 thousand products and 2,165 brands represented. Lyst is a website capable of providing information on products both in terms of prices and product data sheets, as well as information regarding the brand or the product itself.
Lyst’s largest market is in the United States, but London remains the digital fashion powerhouse of the tech sector. Lyst has established a valuable customer base: 90% are women between the ages of twenty-five and forty who spend $ 500 to $ 1,000 a month on fashion. Lyst’s affiliate model is to redirect shoppers to a brand or retailer’s site, making a commission if a sale occurs. Among the brands: Burberry, Valentino, Alexander McQueen and J Crew.
Lyst works by tracking more than 10 million monthly global searches. These, after being analyzed, are used to tell reports and sales statistics. Moreover, from this analysis, stories and anecdotes about the most desired items are created. From new emerging trends to more international fashion movements, nothing goes unnoticed.
INVESTMENTS AND FINANCERS
Since 2010, Lyst has raised £ 39 million thanks to the support of 14W, Accel Partners, Balderton, Draper Esprit. In 2019, the French luxury giant LVMH invested £ 44m (€ 52.1m) on the platform. The chief digital officer of LVMH, Ian Rogers, is the head of the board of the company. The funds obtained from this investment were invested in the development of Internet sites in new territories. They were also used to update the app and to hire new employees.
The brand ended 2017 with net revenues of $ 21 million, gross sales of $ 325 million and registered 70 million consumers. In 2018 it landed in Italy. For the occasion Morton declared:
“for us, the debut in this country is a challenge, but also a way to learn from a clientele looking for new and sophisticated brands and products both in terms of creativity and quality. Italians have always been particularly active also on the “original” platform: at the third place among non-English-speaking countries and eighth overall. Hence the idea of launching the platform Lyst.it»”
The platforms launched in France, Germany, Spain and Italy generated a turnover of 985 thousand pounds (1.17 million euros) in their first months of activity alone. In 2019, Lyst’s turnover increased by 20% according to the data published on the Telegraph.
Read also:
Sunshai 2008
