Luxury & Fashion - Presentation by Chris Morton, Co-Founder & CEO of Lyst at the NOAH Conference Berlin 2017, Tempodrom on the 23rd of June 2017.

1. NOAH Berlin
June 2017

2. GET YOUR TICKET TODAY!
www.noah-conference.com
6-7
Old Billingsgate, London Tempodrom, Berlin
JUN20182-3 NOV2017
SAVE THE DATE

3. Today customers have
more sources of purchase
inspiration than ever before
Magazines, Movies, TV, Instagram, Snapchat, Facebook… etc.
2

4. Once they know what they
want, how can they get it?
3

5. Supply is fragmented, TAM over $250bn
Source: Bain and Company (Luxury Goods Worldwide Market Study 2016), Euromonitor, Barclays (European General Retail and E-Commerce: Fashion e-commerce)
Share of the Global Personal Luxury
Goods market, 2016
29%
23%
23%
11%
8%
6%
Airport Online Off-price stores
Boutiques Department stores Monobrand stores
Western Europe - Share of the online Apparel &
Footwear market, 2015
2%3%3%
4%
5%
6%
6%
7%
64%
Others Amazon Otto Group Zalando
eBay Next Shop Direct Vente Privee
Asos
4

6. Lyst helps people find
and buy more of the
fashion they love.
5

7. E
25-45
Years Old
$500 - $1000
Monthly Spend On Fashion
50% of time
Shopping On Her Phone or Tablet
Our Shopper
She lives in the city: NY, LA or London and loves
fashion but doesn’t have much time to shop.
She shops online during the week and
in-store on the weekend.
6
6

8. We aggregate and structure 4 million products
from the world’s top fashion brands & stores.
7
Shop the Widest Inventory in Fashion

9. +10,000 Brands
Including…
8

10. Best Search in Fashion
Lyst also learns more about the user every time it is used
9

11. 10
Rich Product Pages
We’re the only site that shows you everywhere you can get the fashion you love.
We make sure you find the right item in the right size, and you don’t overpay.

12. Unique Value Proposition
Inspire Fashion Search Compare Order/service
11
Net-A-Porter
Amazon
Google
Pinterest

13. Leading the Vertical with Search
We’ve seen this before.
Fragmented Merchants Consumer Platform
Hotels
Restaurants
Airlines
Property
Fashion brands & stores
This is why the founder of indeed.com is one of our investors.
12

14. These billion dollar companies
give you the easiest way to
search the vertical they own.
13

15. Lyst is doing this for Fashion,
becoming the leading fashion
search platform globally.
14

16. 2016 Facts & Figures
$215 million
2016 GMV with 60% from US
4 million
Fashion Products. We NEVER take inventory
65 million
2016 Annual Shoppers
$250
Average Order Value. Mostly luxury fashion.
+10,000
Department stores, boutiques and
fashion brands including:
Saint Laurent
Burberry
Gucci
Saks
Lane Crawford
Alexander McQueen
Neiman Marcus
Bloomingdales
Matches Fashion
Net-a-Porter
15

17. 60% of GMV comes from
repeat visitors that month.
(and 28% of shoppers return the following week)
16

18. Top 10 Customers in 2016:
On average each placed 69 orders/year
On average $1,400/order
Totalling $1m in GMV
17

19. Rapidly Reaching Scale and Profitability
Gross Merchandise Value ($m) EBITDA Margin (%)
80
160
240
320
2012 2013 2014 2015 2016 2017e
18
-300%
-250%
-200%
-150%
-100%
-50%
0%
50%
FY 2015 FY 2016
+105%
CAGR ’13-16

20. 22,500
45,000
67,500
90,000
50%
100%
150%
200%
250%
300%
350%
400%
1 month Customer Acquisition Cost Recovery Cohort size
2015 2016
19
Extremely Attractive Unit Economics

21. Our CAC there is $6
20
Most of our customer acquisition
comes from the USA, which is the
most competitive market globally.

22. Global Footprint
Last 12 Months (%GMV)
North America
61%
Latin America
<1%
Africa
<1%
Europe
27%
Asia
11%
21

23. Financing To Date
Seed Round
$1.5 M
From Accel, 14W,
Venrex & various angels.
January 2011
Series A
$5 M
From Accel, 14W,
DFJ Esprit & others.
June 2012
Series B
$14 M
From Accel, Balderton,
DFJ Esprit, 14W & others.
December 2013
22
Series C
$40 M
From Accel, LVMH*,
Steadfast, 14W & others.
April 2015
*LVMH investment made through controlling shareholder Groupe Arnault.

24. Thank you.
Chris Morton
chris@lyst.com

25. Selected Completed NOAH Transactions
Focus on Leading European Internet companies
Covering over 400 companies across 25 online
verticals, a broad range of over 500 investors as
well as 100+ online-focused corporates
Deep understanding of industry dynamics
Ability to add value beyond banking advice
Facilitates overall process and minimizes
management distraction
NOAH Advisors is globally well connected
and has direct access to virtually all key
players in the industry
Knowledge of and strong relationships with
potential buyers’ key decision makers
Proactively finds and unlocks attractive
investment opportunities for leading investors
Annual NOAH Conference in its 8th year
Over 40 years of combined relevant M&A experience
Routine execution of M&A and financing transactions
with sizes of several billion euros
30 successfully completed NOAH Advisors transactions
underline successful transfer of M&A competencies to
the Internet sector
Entrepreneurial mind-set, focused on growing the
business and establishing a reputation for excellence
Ability to deliver top results in short time frames
Highly success-based compensation structures align
interests of clients and NOAH Advisors, and demonstrate
conviction to deliver top results
Creative deal solutions
December 2014
September 2014
October 2014
May 2014
Sale of 100% of
for $800m to
Exclusive Financial Advisor to
Fotolia and the Selling Shareholders
Sale of 100% of
for €80m to
Exclusive Financial Advisor to
Trovit and its Shareholders
Sale of controlling stake in
to
Exclusive Financial Advisor to
Facile.it and its Shareholders
sold 100% of
for $228m to a joint venture between
Exclusive Financial Advisor to Yad2
and its Shareholders
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET
CORPORATE FINANCE BOUTIQUE
September 2016
October 2016December 2016
May 2016
Investment in
by
Financial Advisor to Oakley Capital Exclusive Financial Advisor to
10Bis and its Shareholders
®
Marco Rodzynek
Managing Director & Founder
marco.rodzynek@noah-advisors.com
Jan Brandes
Managing Director
jan.brandes@noah-advisors.com
Justus Lumpe
Managing Director
justus.lumpe@noah-advisors.com
The NOAH Advisors Core Banking Team
Nikhil Parmar
Director
nikhil.parmar@noah-advisors.com
10Bis
Acquisition of a Majority Stake in
by
from
at a valuation of €300m
Investment in
Exclusive Financial Advisor to KäuferPortal
and its Shareholders
by
84% Ownership
Financial Advisor to Silver Lake
Investment in
by