Lyst
| Type of business | Private |
|---|---|
Type of site | Social Ecommerce |
| Available in | English |
| Founded | London, UK (2010) |
| No. of locations | London, UK & New York City, USA |
| Area served | Worldwide |
| Industry | Fashion |
| Website |
www |
| Advertising | Affiliate marketing |
| Current status | Active |
Lyst is a fashion ecommerce platform that allows you to shop from over 10,000 designers and stores in one place.[1][2]
History
Launched in 2010,[1] the site currently sees approximately $1 million in sales every month for their brand and retail partners, with 100% growth in sales in 2012.[3] Users can use their Runway Tracking technology to view images and the site will let users know when the item comes into stock.[4] Lyst was founded by Chris Morton, Devin Hunt and Sebastjan Trepca and was based on the concept of social curation.[5] In 2013, Lyst appointed Steven Klooster as Chief Operating Officer.[6] Lyst is backed by investors including DFJ Esprit, Accel Partners, Balderton Capital, Alex Zubillaga and Venrex and has offices in London and New York.[7]
About 8% of the company’s traffic came through mobile devices at the beginning of 2012, and by the end of the year had increased to 25%.[8] In February 2013, the company launched its first mobile application for the iPhone.[9]
In June 2013, Lyst launched integrated checkout, a tool that allows shoppers to purchase products from multiple retailers directly through Lyst. The technology is currently available in the U.S. and Lyst planned to launch internationally later in 2013.[10]
Lyst, despite its rapid growth and publicity, is not the only company operating in this sector. With established competitors such as Mallzee and Shopcade competing for the largest market share and user acquisition.[11]
In October 2013, Lyst was named as one of the UK's Future Fifty,[12] a list of the UK's 50 brightest companies and most likely to expand and succeed.
In 2014, Lyst "raised $14 million in a round of Series B funding led by the venture capital firm Balderton Capital" with additional funding from DFJ Esprit, Accel Partners and Alex Zubillaga, Carmen Busquets; one of the founding investors in Net-a-porter, and John Lindfors; a managing partner at Digital Sky Technologies, to fund international expansion.[1]
In 2015, Lyst raised a further $40 million in Series C funding led by Group Arnault (the controlling shareholder of LVMH), as well as previous investors DFJ Esprit, Balderton Capital, Accel Partners, 14W, and an unnamed New York hedge fund.[13]
References
- 1 2 3 Jones, Nina (23 January 2014). "Lyst Raises $14M in Series B Funding". WWD.
- ↑ About Lyst Lyst, July 1, 2015.
- ↑ "Lyst doing 1m sales a month more following Gucci there than on The Fancy" TechCrunch, December 20, 2012.
- ↑ Rachel Strugatz, "Fashion week's latest digital moves" WWD, February 9, 2012.
- ↑ www.lyst.com (12 September 2012). "Revolutionizing Runway Shopping". PR Newswire. Retrieved 10 October 2014.
- ↑ Vicki M. Young, "Lyst adds COO post" WWD, April 3, 2013.
- ↑ "Fashion Aggregation ftw Lyst picks up 5m now lists dfj esprit as backer" TechCrunch, July 12, 2012.
- ↑ "e-commerce preps procrastinators" Internet Retailer, December 20, 2012.
- ↑ Vicki M. Young, "Lyst debuts shopping app" WWD, February 6, 2013.
- ↑ Vicki M. Young, "Lyst launches multiretailer integrated checkout" WWD, June 4, 2013.
- ↑ Woods, Ben. "iOS fashion recommendation app mallzee breaks out of beta with new Tinder-esque UI". TNW news. TNW news. Retrieved 30 November 2015.
- ↑ "UK's Future Fifty" The Telegraph, October 17, 2013.
- ↑ "Online fashion mall Lyst raises a fashionable $40 million" Fortune, April 30, 2015.