London-based global fashion shopping platform Lyst has been acquired by Japanese eCommerce giant ZOZO for £120m.
Following the acquisition, Lyst, which connects 160m shoppers annually to 27,000 luxury brands and retailers through its model, will become a wholly owned subsidiary of ZOZO.
One of Molten Ventures’ portfolio companies, Lyst fuses AI with fashion intelligence to create new ways for shoppers to discover fashion through its app and website.
ZOZO operates ZOZOTOWN, a fashion eCommerce platform in Japan, serving 12m customers annually. It also has ZOZOFIT, a 3D body scan technology available in the US, and outfit-sharing app WEAR by ZOZO.
The acquisition of Lyst is set to form the cornerstone of the ZOZO’s international expansion strategy.
The firms say Lyst’s strong footprint across the US, UK and Europe is complementary to ZOZO’s leading market position in Japan, providing pathways for both companies to expand into new markets.
“This is an exciting moment for Lyst, and a win-win for our fashion ecosystem of shoppers and partners as we move forward as part of ZOZO Group,” said Lyst CEO Emma McFerran.
“Our space is evolving fast, and we share a vision with ZOZO to build a better, brighter future for the industry, using AI and technology. With ZOZO’s scale, expertise and support, Lyst will be in an even stronger position to reimagine fashion discovery online.”
ZOZO Executive Director, Utahiro Inui, added: “Lyst has built an exceptional platform that aligns perfectly with our vision of creating more inspiring, joyful shopping experiences.
“Lyst’s industry credibility and unique brand voice, coupled with market-leading technology and scale, means they are uniquely positioned to redefine the space.
“Together, we will transform the future of fashion shopping online, as part of our ambition to ‘Inspire the world. Deliver joy every day.’”
The acquisition is expected to complete before the end of April 2025, when Lyst will continue to operate as a standalone business based in London.
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