Luxury brands look to expand their presence online and attract younger shoppersLouis Vuitton owner LVMH has invested in online fashion search business Lyst as the world’s biggest luxury brands look to expand their presence online and capture younger shoppers. London-based Lyst did not disclose how much it had raised in its latest financing round which was led by LVMH and included other investors. LVMH last year launched 24 Sevres, its own multi-brand shopping site, while Cartier owner Richemont is taking full control of rival platform Yoox Net-A-Porter. Lyst operates as a search engine connecting shoppers to items they are seeking on multi-brand sites or fashion labels’ own e-commerce pages, taking commissions when purchases go through. Bernard Arnault, the billionaire boss of LVMH, invested in a previous Lyst financing round through his family office in 2015.

Source: The Guardian May 24, 2018 10:47 UTC