Though the COVID-19 pandemic posed an array of challenges, Revolve has rose to the occasion with resilience and a dedication to their loyal customer base. The online retailer capitalized on its online presence during the pandemic and kept pushing ahead.
“COVID-19 was just a temporary bump in the road,” co-CEO Mike Karanikolas told FN last month at the launch of its New York pop-up gallery. “We’re just seeing our customer come back in such an incredible way. We’re seeing our brand lead in sales momentum and velocity and customer engagement stronger than ever. We’re stronger now than we were before.”
In the second quarter this year, for instance, Revolve saw a boost, with help from its Forward luxury segment. The company’s net income rose to $31.5 million in the quarter, more than doubling year-ago earnings of $14.2 million. Net sales rose 151 percent year-over-year.
Now, Revolve is betting big on Forward’s potential with the recent appointment of Kendall Jenner as creative director.
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“It’s just been a rocket ship, really, the past six months. Then, to have the opportunity to partner with the most incredible fashion icon in the world, Kendall Jenner, [is] just a dream come true. Her aesthetic matches so well with Forward’s vibes, which is why she wanted to partner us and why she was so interested in putting her creative stamp on it,” said Karanikolas. “It’s still early in the relationship but she’s had her hand in so much, from introducing new brands that she loves to helping pick out the items that we’re going to present to consumers.” Karanikolas added that Forward’s new logo was concepted by Jenner.
Karanikolas said that while Forward has had a slow start, compared to other luxury platforms, it’s a major point of opportunity for the company.
“It’s been this under the radar gem that really started to gain a lot of momentum the past couple of years, really just before the pandemic hit,” he said. “Post-pandemic, it’s just completely [come] into its own. I think the world is discovering in a big way, and that’s reflected in the numbers and just the ability to also introduce it more heavily to our Revolve consumers.”
Last month in New York, Revolve proved that after 18-months of staying at home, consumers were ready to dress up and go out again. The brand produced a viral runway show and collection launch with Peter Dundas during New York Fashion Week. It also opened the Revolve Gallery at New York City’s Hudson Yards, which saw the likes of Kylie Jenner, Megan Fox, Lori Harvey, Emily Ratajkowski.
