Japan’s Zozo, Inc. is acquiring UK fashion e-commerce platform Lyst for $154 million. Following the deal, Lyst will become a wholly owned subsidiary of Zozo.
Japan’s Zozo, Inc. is acquiring UK fashion e-commerce platform Lyst for $154 million.
E-commerce fashion platform Lyst connects 160 million shoppers annually with 27,000 premium and luxury brands and retailers through a powerful, asset-light model. Leveraging one of the largest data sets in fashion, Lyst combines artificial intelligence with fashion intelligence to create new and immersive ways for shoppers to discover fashion through its app and website.
Zozo operates “ZozoTown” the leading fashion e-commerce platform in Japan, serving 12 million customers annually, and providing innovative shopping experiences through its proprietary measurement technologies including Zozomat and ZozoGlass. Zozo also develops and operates services including ZozoFit, a 3D body scan technology available in the U.S, outfit-sharing app “Wear by Zozo” and more.
The acquisition of Lyst will form the cornerstone of Zozo’s international expansion strategy. Its growth strategy will be supported by Zozo, who will invest in accelerating the development of Lyst’s cutting-edge AI-driven discovery experience. Lyst will also benefit from Zozo’s technology, including its innovative sizing and fit solutions, helping shoppers to make better choices and reduce returns. Lyst’s unique brand authority and intelligence will be further strengthened by leveraging Zozo’s market leadership in Japan.
The acquisition of Lyst will form the cornerstone of Zozo’s international expansion strategy.
“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,” says 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 Zozos scale, expertise and support, Lyst will be in an even stronger position to reimagine fashion discovery online.”
Commenting on the deal, Zozo Executive Director, Utahiro Inui said: “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 end-April 2025. Following the acquisition, Lyst will continue to operate as a standalone business based in London, with Emma McFerran continuing as CEO. Rothschild & Co acted as financial advisor to Lyst.
LYST
Lyst is a global fashion shopping platform, connecting more than 160m shoppers annually with the world’s best brands and stores. Fusing artificial intelligence with fashion intelligence, it curates products from over 27,000 brands and stores to help consumers discover and purchase products in a way that is easy, fun and deeply personal. Instead of browsing different stores, Lyst helps consumers see and shop all of fashion, all at once.
Per the website: ‘If you’re looking for something specific, you’ll see the best options in stock anywhere (in your size, at the best price). If you’re hunting down something rare, you’ll find it. And when you’re just browsing, we’ll surface pieces we think you’ll love – with the biggest data set in fashion, we can always see what’s hot, where, and why. Become a Lyst member to receive alerts as soon as that item you love goes on sale, or comes back in stock.’
ZOZO, Inc.
Zozo, Inc. develops, operates, and plans for multiple services such as ZozoTown, the fashion e-commerce, Wear by Zozo, a smartphone app for sharing stylings and outfits, niaulab by Zozo, the ultimate personalized-styling service, and develops technology devices for body measurement, such as the ZozoSuit, ZozoMat, and ZozoGlass. It also runs customer support operation and logistics centers “ZozoBase”.
Jasmeen Dugal is Associate Editor at FashionABC, contributing her insights on fashion, technology, and sustainability. She brings with herself more than two decades of editorial experience, working for national newspapers and luxury magazines in India.
Jasmeen Dugal has worked with exchange4media as a senior writer contributing articles on the country’s advertising and marketing movements, and then with Condenast India as Net Editor where she helmed Vogue India’s official website in terms of design, layout and daily content. Besides this, she is also an entrepreneur running her own luxury portal, Explosivefashion, which highlights the latest in luxury fashion and hospitality.
