In a landmark international deal, Japanese e-commerce giant ZOZO, Inc. announced today it has reached a definitive agreement to acquire Lyst Ltd., a leading global fashion shopping platform based in London, for $154 million. The acquisition is set to be completed by the end of April 2025.
Following the transaction, Lyst will operate as a wholly owned subsidiary of ZOZO, continuing to be led by CEO Emma McFerran and headquartered in London. The strategic move marks the centerpiece of ZOZO’s global expansion efforts, combining ZOZO’s e-commerce and technological capabilities with Lyst’s AI-powered fashion discovery engine.
Founded as an asset-light platform, Lyst connects over 160 million shoppers annually to 27,000 premium and luxury fashion brands and retailers worldwide. Known for its powerful data-driven insights, Lyst produces The Lyst Index, a widely recognized industry benchmark that identifies fashion’s most in-demand brands and products each quarter.
ZOZO, which operates “ZOZOTOWN,” Japan’s leading fashion e-commerce platform serving 12 million users, brings to the table innovative technologies such as the ZOZOMAT, ZOZOGLASS, and its 3D body scanning service ZOZOFIT, currently available in the U.S. It also runs the outfit-sharing app “WEAR by ZOZO,” enhancing fashion engagement through social and tech-led experiences.
The acquisition is designed to supercharge Lyst’s technological capabilities and reach. ZOZO plans to invest heavily in enhancing Lyst’s AI-powered discovery tools and will share its proprietary sizing and fit solutions to improve conversion rates and reduce product returns.
