According to Fashion United, the initiative comes as the UK-based company has been seeing growth over the past several years. Lyst is a marketplace for fashion products across many brands, department stores, and other ecommerce sites, and currently, the platform has 150 million users and sales hit USD 500 million in 2020.
Furthermore, the latest round of investing comes from partners including Fidelity International and C4 ventures, with addition investment from entrepreneur Carmen Busquets. The company’s existing investors include LVMH, Balderton Capital, and Draper Esprit.
However, Lyst did not disclose the valuation at which it’s secured its pre-IPO financing round, Fashion United reported.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now