Simmons & Simmons and CMS were called in as legal advisors on leading Japanese e-commerce platform Zozo’s $154m acquisition of its UK rival Lyst.

Simmons is advising Zozo, while CMS is advising Lyst. The firms say Lyst’s strong footprint across the US, UK and Europe complements Zozo’s leading market position in Japan and provides ways for both companies to expand into new markets.

As part of the deal, Lyst will become a wholly owned subsidiary of Zozo but will continue to operate as a standalone business based in London, with Emma McFerran continuing as CEO. The acquisition is expected to be completed before the end of April 2025.

“This is an exciting moment for Lyst, and a win-win for our fashion ecosystem of shoppers and partners as we move forward as part of Zozo Group,” said McFerran.

A Simmons team led by partner Jason Daniel is guiding Zozo on the deal, alongside associates Anna Bryant, Linda Zeman, Hana Bell and Joe Den Ong. Simmons was assisted by its Japanese joint venture partner firm TMI Associates and partners Shigeru Nakayama and Akihiro Kudo.

Meantime, CMS partner John Finnemore is leading Lyst’s legal team.

Zozo executive director Utahiro Inui, added: “Lyst has built an exceptional platform that aligns perfectly with our vision of creating more inspiring, joyful shopping experiences.”

Zozo operates Zozotown, a fashion e-commerce platform in Japan that serves 12 million customers annually. It also has Zozofit, a 3D body scan technology available in the US, and outfit-sharing app Wear by Zozo.

Lyst is a leading global fashion shopping platform, connecting 160 million shoppers annually with 27,000 luxury brands and retailers.