Member Article

Billionaire behind LVMH backs London fashion e-tailer

Lyst, an online fashion retailer, has secured financial backing from Bernard Arnault, the billionaire owner of luxury fashion house LVMH.

Arnault has become the latest to invest in the London startup following a $40m (£26m) financing round, according to The Telegraph.

As well as Group Arnault, Lyst has also received further backing from previous backers Accel, tech firm 14w, Skype backers DFJ and Mr Morton’s previous employer Balderton Capital.

Lyst, which moved into the former White Cube modern art gallery in Shoreditch in 2013, is already partnered with 11,000 designers and has attracted consumers from 154 different countries.

Lyst’s founder Chris Morton, who started the business in 2011, wasn’t keen to comment on his company’s valuation saying he felt it would be “unhealthy for my team to obsess over.”

He said: “I don’t want people to think of us as a retailer, we are positioned as an online version of a shopping mall, or Bond Street, where people can visit and find their favourite brands all in one place,”

“This is an exciting time in our space and we are very proud to be at the centre of it. Our model has grown exponentially in the USA and UK, and this round of funding allows us to take Lyst to fashion consumers around the world.

This was posted in Bdaily's Members' News section by Ellen Forster .