Fashion goes inside and out of elegance, and it turns out, as well as startups for fashion. lustThe advanced fashion market was obtained of $ 700 million, for $ 154 million in cash ShahrourIt is a Japan -based fashion and e -commerce company.
Zozo has a number of fashion brands that include Wear by Zozo, ZozotoN and Zozosuit, among other things. You may have heard about Zozo for another reason, though: its founder Yusaku Maezawa was once “the most tweet to re -tweet”, when he promised to give up 100 million yen in cash to re -tweet.
Zozo said it will continue to operate the UK -based LyST as a stand -alone company, and the current CEO EMA MCFerran is residing with the company.
It goes without saying that Lyst sold at a significantly lower price than its last evaluation, but it is a sign of the times: the world of e -commerce faces amazing levels of uncertainty, and the lyst itself was dealing with the opposite winds from three different directions.
First, the US tariff raises questions about the future of global trade, including the impact on smaller companies around the world that sell goods to American consumers. Nearly a third of London -based revenues currently come from sales in the United States
Second, even before these definitions became a problem, he was not facing huge online competition not only from other specialized ports, but also a giant like Amazon and TeMu.
Third, today, technological investors have greatly detailed anything related to artificial intelligence. This has put a lot of pressure on the companies that are no In this field to show similar growth paths, as well as growth stories that somehow integrate artificial intelligence anyway.
Lyst and Zozo seem to have obtained the memo. The couple will “transform the future of fashion discovery through artificial intelligence and technology,” as companies have noticed prominently in their announcement. This phrase was mentioned again in the version, but there are no specific details of what this means.
In addition to a foothold in the UK, the deal also gives Zozo international works. She said that she has customers in 190 markets, with 30 % of her business from the United States, 24 % of the United Kingdom, and 34 % of Europe.
Lyst has been based on a long tail of fashion brands collection in the market model: claiming to offer 27,000 brands, including designers and retail dealers. The list includes Prada, Gucci, Potiga Veneta, Valentino, Miu Miu, coach, Michael Kors, Hugo Boss, Silvis, Harvey Nichols and Harrods.
The company was one of the winners of the e-commerce boom during and after the peak of the Covid-19s. When she raised $ 85 million in May 2021, Lyst got an evaluation of about $ 700 million. Fidelity led that tour, and other adult investors in the company between ACCEL, Balderton and Molten (formerly Draper Esprit). At that time, the company described the financing as a pre -subscription round.
However, Slam did not close the public subscription window a few months later, but many of the e -commerce companies’ gains quickly saw during that period as consumers returned to the habits of spending before birth. Then investors moved to the next big thing, artificial intelligence.
The e -commerce market for fashion, specifically, remains difficult.
An official spokesman explained that the 160 million Lyst users are “unique and Snowon users”, but this number includes active shoppers as well as those who shop in windows. It is difficult to know the success of the company’s transformation strategy (important to e -commerce companies). This was not alone-other big names in high-end fashion trade like Farfetch as well Noseed Since the epidemic.
LYST recorded revenues of 50.1 million pounds ($ 64 million) in the year ending March 31, 2024, to a large extent, such as its revenues from the previous year (50 million pounds), according to its recent companies in December 2024.
Lyst remained unprecedented at the time, but she managed to narrow her loss significantly during that year to 510,000 pounds from 23.7 million pounds annually. It also recorded a 443,000 pounds of operational profit before taxes.
“This is an exciting moment for Lyst, and he won the victory in our fashionable fashion system for shoppers and partners and we are moving forward as part of the Zozo collection,” McCavitran said in a statement.
Now the question will be if getting the best size economies with Zozo will give lyst the elevator that it needs to heart.
