Vuitton owner LVMH makes e-commerce push with Lyst investment [Reuters]
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Source: Reuters
Vuitton owner LVMH makes e-commerce push with Lyst investment | Reuters Reuters Staff 3 Min Read MILAN (Reuters) - Louis Vuitton owner LVMH has invested in online fashion search business Lyst as the world’s biggest luxury brands look to expand their presence online and capture younger shoppers. London-based Lyst did not disclose how much it had raised in its latest financing round which was led by LVMH and included other investors. The total investment raised was between 50 million and 100 million pounds ($67-$134 million), a source familiar with the matter said. LVMH could not be reached for immediate comment. Long wary that e-commerce would not sit well with their exclusive image, luxury brands are now piling into the market, chasing young consumers comfortable with buying expensive items online, and especially web-savvy buyers in China. LVMH last year launched 24 Sevres, its own multi-brand shopping site, while Cartier owner Richemont is taking full control of rival platform Yoox N
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