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Lyst - NOAH17 London

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Lyst - NOAH17 London

  1. 1. NOAH November 2017 1
  2. 2. Three Conferences, One Mission: Empower the European Digital Ecosystem To provide a physical marketplace that facilitates funding of digital European companies at all stages Mission Mission Mission Connecting Capital with Entrepreneurs Connecting European Champions and Challengers Connecting Israel’s Startups with Large Corporates and Investors 30-31 October 2018 Old Billingsgate, London 6-7 June 2018 Tempodrom, Berlin 13-14 March 2018 Haoman 17, Tel Aviv To promote Israel - European relationships and enable funding To bring together future-shaping executives and investors active across segments driven by digital revolution
  3. 3. 2 To help customers find the fashion they’re searching for, whatever their style. We are a Global Fashion Search Platform, empowering customers to get the items they want, in the right size, without overpaying. Our Mission
  4. 4. Today’s fashion shoppers know exactly what they want, more than ever before… Influencers, Instagram, Snapchat, Facebook, You Tube, etc. 3
  5. 5. Customer’s Problem: Once they know the items they want, how can they find them? 4
  6. 6. Online Supply is Highly Fragmented & Varies by Retailer Retailer A Retailer B Retailer C SKU Overlap Unique SKUs • Most Retailers have little SKU overlap with other stores, making searches very hard. Sizing variance makes this even harder. • They also have small subsets of total brand inventory available, due to high cost of inventory risk. • When there is SKU overlap, customers have multiple options in price, shipping and service.
  7. 7. The Solution: A Global Fashion Search Platform, partnering with the world’s top fashion brands & retailers 6
  8. 8. Lyst Customer Value Proposition 3.8m SKUs High Street Boutiques Dept Stores Mono-brands Online Pure-plays Discounters Price & Service Find the item you’re looking for From one of over 1000 retailers On the best possible terms Choice Availability Offering
  9. 9. 8 Discovery & Search Journeys are Changing Fast with Digital Discovery Search Pre- Digital Post- Digital Colette Macy’s Source: Evercore; Social Media the New Venue for Customer Discovery, 2017
  10. 10. The Lyst Engine Marketing Fashion Search Partners Enablers Technology Talent Selection 160m Search Keywords 15 Acquisition Channels CPA Driven Marketplace 3.8m SKUs 10,000+ Brands 132 Boutiques 79 Luxury Brands 235 High Street Brands 11 Discounters 19 Department Stores 56 Online Pure Plays from: 3 Marketplaces 150m Shoppers Acquired
  11. 11. Monetisation Model Partners Online Only Boutiques Dept Stores Discounters Designer Brands Mass Brands $313 $309 $297 $210 $446 $93 AOV 9.1% 11.8% 10.8% 6.1% 12.5% 9.7% Gross CPA% Ranking Conversion Returns Rate 10
  12. 12. Global Footprint Last 12 Months (%GMV) North America 61% Latin America <1% Africa <1% Europe 27% Asia 11% 11
  13. 13. Search Platforms are Leaders in their Vertical Airlines We’ve seen this play out before, again and again. 12 Fragmented Merchants Consumer Platform Hotels Restaurants Property Fashion
  14. 14. 13 Chris Morton | Founder & CEO Jose Ojeda | COO Jenny Cossons | Chief Partnerships Officer Chris co-founded Lyst in 2010. Prior to this, he was a VC investor at Benchmark Capital and Balderton Capital, focussing on consumer internet. Jose joined Lyst in 2015 as COO. Before this, he was CEO of Zalora Thailand, and co-founded and exited The Chapar, a clothing subscription business. He was at McKinsey & Harvard Business School. Jenny joined Lyst as Head of Partnerships in 2014. Prior to this, she was Group Head of Brand Relations at Net-A-Porter and held various positions at Conde Nast Publications, including Vogue.com. Sebastjan Trepca | Founder & CTO/CPO Seb co-founded Lyst in 2010. He was previously VP of Engineering at Noovo and is the founder of Python Slovenia. Engineering, Product & Data Science Sales, Growth, & Marketing Finance & Operations 59 x 50 x 45 x 15 Team of 110 across London HQ + NYC
  15. 15. 22,500 45,000 67,500 90,000 50% 100% 150% 200% 250% 300% 350% 400% 1 month Customer Acquisition Cost Recovery Cohort size 14 Immediately Profitable Unit Economics CY 2015 CY 2016 CY 2017 We make 3x our CAC in the first month, and will attract over 1m customers in FY17
  16. 16. 15 Category Leading, High Quality Inventory that’s Growing Fast 0 1,000,000 2,000,000 3,000,000 4,000,000 Feb-16Jun-16O ct-16Feb-17Jun-17 +86% Inventory Size (m) 1m 2m 3m 4m Lyst Farfetch N et-A-Porter 0.02 0.18 3.75 Farfetch and Net-a-Porter are also Lyst PartnersWe turn down 95% of Partners who ask to join
  17. 17. Gross Merchandise Value ($m) EBITDA Margin (%) 100 200 300 400 FY12 FY13 FY14 FY15 FY16 FY17e 16 -300% -250% -200% -150% -100% -50% 0% 50% FY15 FY16 FY17 GMV Growing Quickly, Running at Breakeven Lyst FY = April - March 5x growth in 3y
  18. 18. 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 17 Series C $40 M From Accel, LVMH*, Steadfast, 14W & others. April 2015 Financing *From LVMH’s controlling shareholder, Groupe Arnault
  19. 19. Thank you.
  20. 20. 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 2016October 2016 December 2016 Financial Advisor to Oakley Capital ® 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 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 August 2017 Financial Advisor to EMK Capital Acquisition of a Majority Stake in by at a valuation of $200m

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