Revolve Group, Inc., the Los Angeles-based online fashion retailer, reported robust sales growth in the third quarter of 2021. The company’s net sales reached an impressive $244.1 million, marking a substantial 62% increase compared to the same period last year. What’s even more noteworthy is that these sales figures surpass those from Q3 2019, the last pre-pandemic third quarter. Revolve co-founder and co-CEO Mike Karanikolas emphasized the significant acceleration in sales, which rose by 41% compared to the second quarter of 2021.

The strong performance of Revolve was observed across all its business segments. The Revolve segment generated $204.2 million in sales, reflecting a solid 56% increase from the previous year and an impressive 51% increase from Q2 2019. On the other hand, the FWRD segment experienced sales of $39.9 million in the third quarter, showcasing a remarkable 95% growth from the prior-year period and an astounding 112% growth from two years ago.

Revolve’s domestic sales witnessed a robust year-over-year growth of 65%, while international revenues also experienced a healthy increase of 49%. The company’s e-commerce platform attracted 1.7 million active users, a 12% increase from the previous year. Furthermore, the number of orders placed through the platform saw a significant surge, rising by 60% to reach 1.1 million in the third quarter. Additionally, the average order value increased by 19% to $276.

Despite the impressive sales growth, Revolve’s net income decreased by 14%. The company attributed this decline to increased investments in brand marketing initiatives, specifically aimed at capitalizing on the reopening of economies after the Covid-19 pandemic. Nonetheless, compared to Q3 2019, Revolve’s net income showed substantial growth of 74%.

Co-founder and co-CEO Michael Mente expressed confidence in Revolve’s competitive strengths and its ability to thrive in the post-pandemic world. He highlighted the broad-based momentum and the strength of both the Revolve and FWRD brands. Mente also made mention of the recent appointment of Kendall Jenner as FWRD’s creative director, a move that has generated even more excitement surrounding the company.

Looking at the year as a whole, Revolve has achieved impressive net sales of $651.6 million, representing a substantial 48% increase compared to the previous year. The company’s net income for the year currently stands at $70.5 million, or $0.95 per diluted share, compared to $37.8 million, or $0.52 per diluted share, in the previous year.

Overall, Revolve’s sales growth in the third quarter is a testament to the company’s resilience and adaptability in a challenging retail landscape. With the recent appointment of Kendall Jenner and its strong sales performance, Revolve is well-positioned to achieve even greater success in the fashion e-commerce industry.

For more information on Revolve and its sales growth, please visit the official Revolve website: Revolve Official Website.
To learn more about Kendall Jenner’s role as FWRD’s creative director, click here: Kendall Jenner at FWRD.