E-commerce continues to be a huge focus for investors watching consumer behavior and spending patterns in the wake of the Covid-19 pandemic. In the latest development, UK startup Lyst, a portal for high fashion brands and stores to sell directly to users, has picked up $85 million, in what the startup is describing as a ‘pre-IPO’ round.
The news comes as the company says that it has now grown to 150 million users browsing and buying from a catalog of 8 million products from 17,000 brands and retailers.
List said that gross merchandise value in 2020 was over $500 million, with new user numbers growing 1100%. GMV has definitely been accelerating. Lyst has been around since 2010 and said today that lifetime GMV is more than $2 billion.
“Lyst is rapidly becoming a fashion category leader, which hundreds of millions of fashion lovers rely on to decide what to buy. While our app and website already enjoy very large audiences in the USA & Europe, fashion e-commerce remains under-penetrated in general, with huge growth potential globally. We’re excited to use this raise from…
