LVMH is leading a round of funding for Lyst, a fashion search platform, which connects millions of shoppers globally with over 11,000 designers and stores, from Burberry, Valentino, Alexander McQueen and J.Crew to Lane Crawford, Saks Fifth Avenue, Harrods and Neiman Marcus.
LVMH will allegedly raise between £50 million and £100 million “at a significant premium to the valuation of its last funding round.”
According to Crunchbase, since the launch of Lyst in 2010, the company has acquired up to $60.5 million.
And in 2015, Groupe Arnault, LVMH’s biggest shareholder, helped raise $40 million alone.
This investment will allow LVMH to be Lyst’s largest investor.
In addition to that, the funding will allow the online platform to compete with big-time e-commerce players like:
- Yoox Net-a-Porter Group
Fashion Ambitions has reached out to a representative at Lyst for comment and will update this post as soon as we learn more.