CMS has advised longstanding client Lyst, a global fashion shopping platform, on its acquisition by ZOZO Inc., which operates the largest fashion e-commerce platform in Japan, for $154m.
Founded in London in 2010, Lyst connects 160 million shoppers annually with 27,000 of the world’s best premium and luxury brands and retailers. The platform leverages artificial intelligence and fashion intelligence to create immersive ways for shoppers to discover fashion through its app and website. Lyst is known for its influential industry benchmark, The Lyst Index, which ranks fashion’s hottest brands and products every quarter.
This acquisition will see Lyst become a wholly-owned subsidiary of ZOZO, who will support its growth strategy by investing in the development of its cutting-edge AI-driven discovery experience.
John Finnemore, CMS Corporate partner, says: “We are proud to have supported Lyst since its Series A funding round. Lyst has an exceptional understanding of consumer behaviours and experience personalisation. With ZOZO’s support, I am confident they will continue to thrive.”
Emma McFerran, Chief Operating Officer at Lyst, adds: “Lyst and CMS have shared an incredible journey together. I am deeply grateful to John and the team for their unwavering support in this milestone deal for Lyst. CMS has consistently provided us with practical, commercial, and definitive advice at every stage of the transaction. We greatly value their profound sector expertise.”
The CMS team was led by John Finnemore and included Aaron Fairhurst, Mike Cattell, Zina Patel, Chris Wilkinson, Alexandra Stuart, Johanna Dodgson, Jack Payne and Helena Thornby (Corporate); and Richard Brown and Max Wiktorsson (Employment).
With more than 1,400 lawyers in over 80 offices worldwide, including over 250 based in the UK, the CMS Corporate practice has established itself as a leader in advising on strategic deals in the fashion sector. With a deep understanding of the complexities and nuances of the industry, CMS has successfully guided numerous high-profile transactions and mergers and acquisitions.
