ZOZO has acquired Lyst, a global fashion shopping platform, from Molten for $154 million, enhancing its e-commerce capabilities in Japan.

Information on the Target

ZOZO, Inc. has successfully acquired Lyst, a prominent global fashion shopping platform, as part of its strategy to strengthen its position in the fashion e-commerce sector. Lyst, known for its innovative technology and comprehensive selection, has been a portfolio company of Molten since its Series A investment in 2012. Over the years, Molten has contributed additional funding during Lyst's various investment rounds, culminating in this recent acquisition valued at $154 million.

The acquisition is poised to enhance ZOZO’s competitive edge in the Japanese fashion e-commerce market, leveraging Lyst's capabilities and expanding its reach to a broader international audience. The transaction is expected to conclude by the end of April 2025, providing Molten with approximately £9 million in proceeds, which represents a 7% increase over Lyst's latest reported Net Asset Value (NAV).

Industry Overview in Japan

The fashion e-commerce industry in Japan is witnessing rapid growth, driven by the increasing adoption of online shopping among consumers. With the rise of mobile technology and improved internet accessibility, Japanese shoppers are turn