Chris Morton, co-founder and CEO of fashion marketplace Lyst, describes how major luxury fashion brands view Lyst's business impact and value proposition.
Opinion
Morton: Amazon has struggled in emotional commerce due to distinct rules
“Amazon being the undisputed heavyweights of commodity commerce, I think haven't made as much headway into emotional commerce as you might expect, because it's a different set of rules.”
Prediction Partly held up
Morton: Physical retail will survive, but city-center stores will outperform suburbs
“Physical store, I do not see going, going anywhere there may be some changes for these experiential versus the more functional. Maybe center of cities will stay strong, whereas some of the destination, you know, suburb stores might be a bit more impacted, but …”
Opinion
Morton: London leads all Western cities in fashion tech
“London has more success in fashion technology than any other city, certainly in the West.”
What-if
Morton: Lyst would not exist without my Benchmark VC experience
“It was an incredibly valuable two years, which, you know, if we, if I hadn't done that, I don't think List would exist today.”
Assertion Supported
Morton: Lyst offers millions of items, dwarfing traditional department stores
“We have about three or four million items. You know, most department stores have, you know, orders of magnitude less than that. So the 30 or 40,000, you know, we felt the market was right to build this, you know, leading marketplace. And we now have the larges…”
Assertion Supported
Morton: Lyst is purely tech-led with zero operations or logistics
“One of the most important things about the business is that we are completely technology and engineering led, quite a significant data science team, no operations, no logistics. We never touch product.”