On April 10 , 2025 , London-based fashion tech platform Lyst announced it would be acquired by Japanese e-commerce leader Zozo in a deal valued at $154 million , a move set to reshape the trajectory of global fashion shopping and digital discovery.
This transaction, expected to close before the end of April , makes Lyst a wholly owned subsidiary of Zozo while allowing it to operate independently from its London headquarters with Emma McFerran remaining as CEO . Why Zozo Acquired Lyst—and What’s Next With this
acquisition, Zozo , which runs the massive fashion marketplace Zozotown in Japan , is making a strategic play to expand its international reach.
Lyst brings more than 160 million annual shoppers and connections to 27,000 brands and retailers , boasting unmatched data, deep AI expertise, and an influential market voice, especially through its renowned Lyst Index —the authoritative quarterly ranking of fashion’s hottest products and brands.
Zozo, meanwhile, and is widely recognized for innovations in sizing and fitting, such as its ZOZOMAT and ZOZOGLASS technologies. The two companies are set to combine their expertise in AI-driven discovery, personalization, and fit technology , though specific details on this collaboration have not been disclosed.
A Shift in Global Strategy—and Valuation The deal comes as a major shift for Lyst, which was last valued at $700 million in 2021 when a public offering looked imminent…
