The directors understand and appreciate their duty under s172 of the Companies Act 2006 to act in the way in which they consider, in good faith, would be most likely to promote the success of the group and company for the benefit of its shareholders as a whole. In order to do so, the group and company has a corporate governance framework in place which facilitates a detailed review and challenge prior to board decisions in order to ensure the long-term success of the group and company.
The group and company’s primary asset is its people and we have a commitment to attracting, developing and retaining highly skilled employees who are experts in their field. A high trust and high performance culture built on a robust employee value proposition has made the group and company a highly attractive destination for top quality and ambitious talent. Our people strategy and initiatives are directly influenced by the continuous employee feedback sought. Regular company wide meetings are also held where employees have the opportunity to ask questions to leadership in an open forum, alongside several representative committees to hear the employee voice. Employee safety and wellbeing is a key priority and the group and company has endeavoured to provide a supportive environment for its staff. The group and company opts to disclose our gender pay gap internally.
The group and company’s customers are one of our most important stakeholders. We provide access to one of the world’s largest fashion inventory with over 9 million items from over 25 thousand brands. By aggregating such a large supply we offer customers both breadth and depth of fashion assortment, from which we are committed to continuously improving a personalised customer experience. Customers are able to engage with us across our website and iOS and Android apps, with our customer promises guiding our internal product development cycles.
Our partner relationships are one of our strongest assets. For our partners we connect them with over 182 million fashion users, by being on the Lyst platform they gain immediate access to this fashion audience. The large scale of partners onboarded on Lyst also brings more choice to customers, thereby driving more customers to the platform and increasing the potential sales for partners. The proposition for partners also includes control over pricing, merchandising and fulfilment, alongside opportunities to directly target their marketing messages to our extensive fashion user base. The group and company have a dedicated team who foster strong relationships with key partners, offering strategic account management to unlock value for our partners.
The group and company relies on its suppliers to provide the products and services that support the delivery of our services and enable the group and company to operate. We contract with our suppliers on terms that are acceptable to both parties and aim to adhere to the terms of these agreements.
Communities and the wider public expect us to act in a responsible way. We focus on ensuring that we have a diverse and inclusive environment empowering all employees to excel; making the most of their unique backgrounds and experience to drive exceptional impact. We are working with organisations and charities who are focused on underrepresented groups to build an inclusive environment. The group and company also contribute to charities and have ongoing internal climate initiatives.
This statement has been approved on behalf of the Board of Directors of Lyst Ltd.