E-commerce site Lyst is announcing a major new backer Thursday, Groupe Arnault, the investment firm controlled by LVMH CEO Bernard Arnault. The London-based company has received a new $40 million round of funding from Groupe Arnault, Accel Partners, Balderton Capital, DFJ, 14W and an unnamed New York hedge fund.
Lyst is among the many companies that aim to be an online shopping mall for fashion.
Not only does it partner with designers and brands, but Lyst also makes it easier for online shoppers to pay for items they buy from Saks Fifth Avenue, Harrods, Valentino, J. Crew, and Neiman Marcus. It has a universal online shopping cart that lets customers shop across different designers and stores, but pay for everything they buy at once in a single checkout.
Lyst is also trying to personalize the online buying experience by curating clothes and accessories based on trends or seasonal events such…
View original post 240 more words