![]() So, how does retail intersect with opulence? Everyone has a pent up interest in going out and being social,” says Oliver Chen, a senior retail analyst at Cowen. “We think it’s the Roaring Twenties again. Its pandemic transition continues to be nuanced: In late March, Revolve added a “ vaccine ready” section to their website, featuring tops that provide easy access to the upper arm and shoulder, as more people receive the Covid-19 vaccination. Instead of seeing influencers partying in Bermuda or tanning in the Hamptons as part of the company’s annual Revolve Summer event, its 4.6 million Instagram followers tuned in remotely for celebrity-hosted events like painting, pool parties and movie night. To compensate in pandemic times, Revolve shifted to virtual events, including live Instagram workouts, cooking demos and collection previews. Arguably its most well-known event is the Revolve Festival-an exclusive party held at the Coachella music festival-where attendees have mingled with celebrities like Skrillex, Kendall Jenner, Migos and Chiara Ferragni. Pre-pandemic, the company threw parties for these influencers in fashionable destinations like the Hamptons, London, Thailand and Ibiza. Revolve sells clothing from a lineup of over 500 existing fashion brands, as well as more than 20 owned brands, including two influencer-led brands. Much of Revolve’s growth (and visibility) over the years has been bolstered by collaborations with its 7,500-strong network of influencers, who use their platforms to showcase the brands and items sold on the company’s website. Its 1.5 million active customers, primarily women aged between 18 and 44 years old, spent an average of $250 per order. ![]() Approximately 77% of Revolve’s net sales in 2020 were at full price. According to Mente, his team had to change purchases to merchandise more suitable to what consumers were looking for during the pandemic and adjust quickly. The technology mines data from a database built over the company’s 18-year history, consisting of thousands of styles and millions of customer interactions. ![]() Mente attributes Revolve’s resilience in the last year to a quick and decisive pivot toward cosmetics, skincare and athleisure for customers spending more and more time at home, thanks to the data-driven AI systems that the company has been developing for years. “It really feels great to be sitting where we’re at today compared to where we were a year ago,” Karanikolas says. His view: Things were going to get better. But as he watched other companies like Wayfair and The RealReal take these financial packages and see ownership diluted, he turned down the offers. Karanikolas says that as Revolve’s stock dropped to $14 last year, the company received many loan offers from banks. The company reported $56.8 million in net income in 2020, a year-over-year increase of 25%. We realized early that we could build a really powerful brand.”ĭespite the headwinds from the pandemic-revenue fell 3% last year to $580.6 million and the stock plummeted more than 50% from to a low of $7.30 a share in late March 2020-Revolve managed its business well in a tumultuous year, earning nearly $57 million in net income, up from $36 million in 2019. The customer is going to continue to shop online. A lot of the main themes from back then are still very true. “We did the front end, the back end and did everything working from the house-turned-office, including warehousing. The winner will be chosen at random from those of you who have entered correctly by following both Revolve Clothing and The Jeans Blog on Twitter and Facebook and entering your email address in the box provided.“We built the website ourselves,” Mente tells Forbes. It’s open worldwide as it is a gift card, so absolutely anyone can enter. The giveaway is open for 10 days and will close on the 8th July 2015 at 11:59:59pm BST. REVOLVE Clothing Twitter | REVOLVE Clothing Facebook The Jeans Blog Twitter | The Jeans Blog Facebook It’s as simple as that! What could be easier? So what do you do to enter this giveaway? It’s simple! Just enter your email address in the Rafflecopter box below and follow both The Jeans Blog and REVOLVE Clothing on Twitter and Facebook using the links below. The Jeans Blog has teamed up with online retailer REVOLVE Clothing to give you (both men and women) the chance to WIN a $200 gift card for their store! REVOLVE have so many amazing denim options, from the likes of J Brand, Current/Elliott, FRAME, Rag & Bone, Paige Denim, Citizens of Humanity, James Jeans, G-Star, Nudie, A.P.C and more, there’s going to be something for everyone! If denim isn’t for you though, you are more than welcome to spend it on something else! ![]()
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