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Report: LVMH to invest in UK-based online fashion retailer Lyst

LVMH Moët Hennessy Louis Vuitton SE will lead a new round of investment in fashion e-commerce company Lyst, Sky News reported May 13.

The French luxury giant will be the largest investor in the expected capital-raising program by the U.K.-based shopping site, which allows users to search and shop fashion products from various stores, according to the report. Lyst is expected to announce its capital-raising this week.

Though details regarding the investment were unclear, one of the sources told Sky News that it was raising between £50 million and £100 million at a significant premium to the valuation of its last round of funding. In its previous fundraising, Lyst received $40 million from investors, including investment firm Groupe Arnault SAS and venture capital firms such as Accel Partners and Balderton Capital, according to the report. Groupe Arnault is a controlling shareholder in LVMH. According to the report, unlike the previous investment, LVMH will directly invest in Lyst.

Sky News, citing an insider, also reported that LVMH's interest in funding Lyst may indicate that it plans to take over the e-commerce company.