• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

US fashion retailer Revolve Group reports Q1 FY21 sales of $179 mn

30 Jun '21
2 min read
Pic: Revolve Group
Pic: Revolve Group

Revolve Group, a US-based next-generation fashion retailer for millennial and generation Z consumers, reported 22 per cent sales growth to $178.9 million in its first quarter (Q1) of FY21 ended on March 31, 2021, compared to $146.0 million in the same period of previous fiscal. The group’s net income rose to $22.2 million (Q1 FY20: $4.1 million).
 
“Our exceptional results for the first quarter reinforce our belief that Revolve is uniquely positioned for the reopening of economies and the post-Covid world as a brand consumers associate with living an active social lifestyle. We are excited to re-accelerate our investment in the business to support our next phase of growth,” Mike Karanikolas, co-founder and co-CEO at Revolve Group, said in a press release.
 
“Particularly exciting is that the strong recovery in March came from a return to growth in styles associated with social outings, such as dresses, as well as continued strong growth in at home related products, including beauty, intimates and activewear that have grown rapidly throughout the pandemic,” Michael Mente, co-founder and co-CEO at Revolve Group said.
 
Gross profit for Q1 FY21 surged to $96.6 million ($70.9 million), while adjusted EBITDA was $23.3 million ($5.6 million). The group’s operating expenses were $75.4 million ($67.1 million).
 
Sales from Revolve segment for the three-month period increased to $152.1 million ($124.5 million), whereas Forward segment’s sales were up to $26.7 million ($21.6 million). Regionally, sales in US grew to $143.3 million ($120.3 million), and rest of the world sales were $35.6 million ($25.7 million).
 
“Driven by our powerful brand, our proprietary technology, and our data driven merchandising, our results demonstrate great progress against our goal of developing a deeper relationship with our customer and capturing a larger share of her wallet over time,” Mente concluded in the release.

Fibre2Fashion News Desk (JL)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search