Home / Knowledge / News / E-commerce / US fashion e-tailer Revolve raises $212 mn in IPO

US fashion e-tailer Revolve raises $212 mn in IPO

11
Jun '19
Pic: Revolve
Pic: Revolve
US-based online fashion retailer Revolve Group raised $212 million in its initial public offering (IPO) last week. It sold 11.8 million shares on June 6 for $18 each, after marketing them for $16 to $18 a piece, the company said in a statement. It plans to use the proceeds to buy back stock from existing stakeholders and to continue growing the company.

Only a quarter of the Class A shares issued in the IPO were sold by the company, according to the filing. The remaining $8.8 million shares were sold by current investors.

The Cerritos, California-based company is valued in the IPO at more than $1.23 billion based on the outstanding shares listed in its filings, which show it earned $31 million on sales of $499 million last year, up from net income of $5.3 million on sales of almost $400 million in 2017, according to a news agency report.

Sales for the quarter ended March 31 rose 21 per cent to $137 million, while net income fell 7.8 per cent to $5 million.

Revolve targets millennial customers and its Instagram account has more than 5.5 million followers.

Eighteen per cent of the company’s sales came from outside the United States last year. Revolve feels global expansion will likely require fulfilment centres along with other expenditures and its manufacturing operations in China could be affected by the political and economic climate there and tariffs imposed by the US Government. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

USDA projects 2019-20 cotton stocks lowest in 8 years

Textiles | On 19th Jun 2019

USDA projects 2019-20 cotton stocks lowest in 8 years

The world cotton ending stocks for 2019-20 are projected at 77.3...

Budget allocation for Bangla RMG sector not enough: BGMEA

Textiles | On 19th Jun 2019

Budget allocation for Bangla RMG sector not enough: BGMEA

The readymade garments (RMG) industry in Bangladesh received the...

AAFA, 3 groups send letter to Myanmar over workers' rights

Apparel/Garments | On 19th Jun 2019

AAFA, 3 groups send letter to Myanmar over workers' rights

The American Apparel & Footwear Association and three other trade...

Interviews View All

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Amol Bhagwati,

Amol Bhagwati

A textile finishing solution provider, Inspiron Engineering Private...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search