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Lyst, a fashion shopping platform, is being acquired by Japanese eCommerce firm Zozo for $154 million. The acquisition will make Lyst a wholly owned subsidiary of Zozo. Despite being valued at up to $700 million after a 2021 funding round, Lyst sold for significantly less due to challenges including tariffs and competition from online retailers like Amazon. The deal will allow Zozo to invest in accelerating Lyst’s AI-driven discovery experience. Zozo’s expertise and scale are expected to strengthen Lyst’s position in the industry. The acquisition is seen as a win-win for both companies.
