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Lyst Strengthens Leadership as CEO Chris Morton Steps Back

Chris Morton, shown in a portrait on the left, is stepping back as chief executive of Lyst, handing over the reins to current chief operating officer Emma McFerran, shown in a portrait on the right.
Chris Morton (left) is stepping back as chief executive of Lyst, handing over the reins to current chief operating officer Emma McFerran (right). (Lyst)

Morton will continue to serve as the fashion e-commerce app’s executive chairman, focusing on strategy, partnerships and financing, but will hand over day-to-day leadership to current chief operating officer Emma McFerran in September, the company said Wednesday.

Lyst, which raised $85 million in a “pre-IPO” round last year, has also hired former Hotel.com and Expedia executive Liz Kistruck to serve as chief financial officer.

The company said the leadership reshuffle positions it to maintain a leading position in the fast-growing but highly competitive online fashion market, where both digital heavyweights and luxury incumbents have struggled to turn a profit.

”It’s increasingly clear that we have a unique opportunity ahead of us — my biggest fear is that we don’t take advantage of it,” Morton said in a statement. “The market is accelerating and changing fast in the current environment — both of these offer tremendous tailwinds for our business.”

Though Lyst isn’t profitable, the company’s revenue rose more than 50 percent to £35.4 million ($42.1 million) in its financial year ending March 31, 2022, according to a public filing.

Learn more:

Why Investors Are Betting on Lyst

The platform raised an $85 million ‘pre-IPO’ round on the back of a fast-growing luxury e-commerce market and significant steps towards realising its ‘Spotify for fashion’ vision.

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