Zozo, Inc. secures the Lyst-based fashion shopping platform Lyst.
Lyst signed a final agreement to take over by the Japanese e-commerce platform for fashion, said London-based company on Wednesday. The purchase price is $ 154 million (139 million euros).
After the takeover, Lyst becomes a 100 % subsidiary of Zozo. The aim of this step is the international expansion of Zozo. The group wants to further expand its global position and use Lysts presence in the USA, Great Britain and Europe.
Zozo also supported Lyst’s growth strategy by investing in the development of AI-controlled discovery experiences, according to the announcement. On the other hand, Lyst should also benefit from Zozo’s technology. This includes, among other things, the expertise in “innovative size and fit solutions”, which should help: inside, to make better decisions and reduce returns.
“This is an exciting moment for Lyst and a win-win situation for our fashion ecosystem from customers: inside and partners: inside, while we are progressing as part of the zozo group,” said Lyst CEO Emma McFerran. “Our area develops quickly, and with Zozo we share the vision with the help of AI and technology to shape a better, more radiant future for the industry.”
The takeover is to be completed at the end of April. Lyst will also operate as a “independent company” based in London and under the direction of CEO McFerran.
About zozo
Zozo is the operator of “Zozotown”, a Japanese e-commerce platform for fashion with around 12 million annually: inside. In addition, the measurement technologies “zozomat” and “zozoglass” as well as the 3D body technology “zozofit” and the outfit sharing app “Wear by Zozo” are part of the portfolio.