Karanikolas has a degree in Computer Engineering from Virginia Tech. in Business Administration from the University of Southern California while Mr. Per the Revolve Investor Relations site, Mr.
REVOLVE GROUP PROFESSIONAL
Per their LinkedIn pages, NextStrat was their only professional work experience before starting Revolve. They both met while working at a startup called NextStrat in the early 2000’s. Michael Mente and Mike Karanikolas are the Co-CEOs of Revolve. TSG has since sold their interest and is no longer involved in the business. Mente said that the money raised from TSG was reinvested in the business over the next several years. TSG was the only outside investor in the business before it went public. During 2012 they found the right investor to work with in TSG Consumer Partners, a consumer brand focused private equity firm in San Francisco. Mente goes on to state in the video that he and his business partner, Mike Karanikolas, took meetings with investors from time to time, but none of them felt like the right fit. During this same time the business launched its owned brands which I will also discuss in the What Does Revolve Do section. article from 2018, Revolve also shifted its strategy to focus on millennial women post Great Recession. It was a pioneer in this space which I will discuss it later in the writeup under the What Does Revolve Do section. Revolve started working with influencers in 2009 which has been key to its overall brand and success. Mente says later in the interview that the Great Recession still keeps him on his toes and affects his business decisions to this day. So even though at the point we were doing $40-$50 million we were still fighting for our lives.” Although he doesn’t say how, the business managed to survive. All of the, you know, department stores, everyone just discounted the stores 50% off.
And the whole kind of industry, just kind of like, massive slow down. Michael Mente says at the 15:30 mark of the video linked above, “Within a two week period, sales dropped by 40% and we had no financial backers. The business grew and grew until the Great Recession where it almost got wiped out. Mente said the first move was buying and selling designer denim wholesale as they were very popular at the time. They were still anchored to traditional retail stores and print advertising so there seemed to be an opportunity. What he saw was a lot of people searching for women’s fashion, but hardly any of the major brands had an online presence at this time. Mente said that in the early 2000’s one of his friends showed him the results from online searches and how much it would cost to be listed on internet search sites. Mente, Revolve and its slick marketing techniques. I refer to it frequently in this writeup and learned a ton about Mr. It’s 57 minutes long but I highly recommend watching it in its entirety. The interview linked here with Co-Ceo Michael Mente and Lewis Howes was an excellent introduction to the business. The business is headquartered in the mean streets of Cerritos, California.įinding out about Revolve’s history was tougher than usual as it doesn’t have a section dedicated to it on its website or a Wikipedia page.
REVOLVE GROUP FREE
Through nearly 20 years of continued investment in technology, data analytics, and innovative marketing and merchandising strategies, we have built a powerful platform and brand that we believe is connecting with the next generation of consumers and is redefining fashion retail for the 21st century.” In fiscal year 2021, Revolve generated record revenues of $890 million and approximately $60 million in listed free cash flow. Our dynamic platform connects a deeply engaged community of millions of consumers, thousands of global fashion influencers, and more than 1,000 emerging, established and owned brands. As a trusted premium lifestyle brand and a go-to online source for discovery and inspiration, we deliver an engaging customer experience from a vast, yet curated, offering totaling over 70,000 apparel, footwear, accessories and beauty styles. 7 of the most recent 10-K, the business describes itself as “…the next-generation fashion retailer for Millennial and Generation Z consumers. Revolve Group Inc (NYSE: RVLV), known as Revolve in this writeup, is an online fashion retailer that sells its own and third party branded clothing through the Revolve and FWRD websites.
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