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Lyst just announced a new round of investment totaling $40 million. The new funding comes in part from LVMH controlling shareholder Groupe Arnault and Balderton Capital, which also invests in Yoox and Net-A-Porter.
The four-year-old site now boasts $150 million in annual sales and has grown by over 300% year-over-year in the past three years. In a release, Lyst stated that it plans to use the new funding to keep investing in its universal cart technology and internal team growth in both London and New York.
"This is an exciting time in our space and we're excited to be at the center of it," Chris Morton, Lyst co-founder and CEO, said in a statement. "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."