Companies

LVMH invests in luxury platform Lyst

May 25, 2018 France

Fashion research platform Lyst announced the participation of the LVMH group in a new round of funding. Although the details of the deal have not been revealed, investment should amount to 50 million euros

The French luxury conglomerate LVMH led a new round of investments in the fashion search platform Lyst. The size of the investment wasn't disclosed, although there seems to be indications that LVMH's injection in the platform should be under the 60 million euros threshold (according to the Financial Times).

The new investment should be used to support Lyst "continued international expansion into new markets and boost the company's growth through its teams in London and New York." It will also help its data analysts "continue their innovations in machine learning, computer vision, artificial intelligence and the field of artificial neural networks, to drive platform search and customization algorithms". As part of the deal, LVMH Chief Digital Officer Ian Rogers should join Lyst's Board.

Lyst, a platform bringing together 12 000 brands and retailers, reaches buyers from more than 120 countries, in a total portfolio of clients that should be around 70 million fashion buyers, according to the company's. Lyst's revenue has grown more than 400% in the last three years since its last round of fund-raising.

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