'Everything within our control is going extremely well,' Cofounder Michael Mente told WWD. 'It’s a secret sauce that’s made out of a lot of different things.'
was named creative director of the business in 2021. But even pre-Jenner, Revolve’s luxury segment was on an exceptional run, delivering a compound annual growth rate of 46 percent — or tripling net sales — over the last three years. Mentes added that Fwrd’s growth is outpacing the growth of the overall company.
“It’s driven by Revolve consumers being aware that they can shop luxury with us, with the same level of trust, the same level of curation, the same level of operational excellence and service levels,” he explained. “[In the past] the consumer didn’t know she could get that [luxury] offering from us. And the great thing is that only a small portion of Revolve customers shop on Fwrd. But they’re increasing that rate at a very, very steady pace.
“And the consumer continues to be really strong,” Karanikolas continued. “Our strategy on pricing continues to be that we want to be in line with where the market is trending. As prices have increased in the consumer space, we’ve increased our prices a little bit in lockstep. Based on what everyone else in the market is doing and then based on cost increases on some of the input.”
Mentes added: “We’re feeling great, because everything within our control is going extremely well. It’s been an incredible 19-year run. So we see a lot of opportunity in front of us.” The company ended the quarter with more than $270 million in cash and cash equivalents and zero debt. Shares of Revolve, which closed down 1.29 percent to $43.51 are down more than 25 percent, year-over-year.
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