Through our recognized leadership position, deep relationships and history of mutually beneficial partnerships, we believe we have become a partner of choice for influencers worldwide, leading to a competitive advantage. We have built a large community of influencers and brand partners, including thousands of micro-influencers, as well as some of the most influential social media celebrities in the world. We are recognized as a pioneer and a leader in social media and influencer marketing. Our powerful brands and innovative marketing strategy connect with the increasingly important Millennial and Generation Z demographics. Illustrating the efficacy of our data-driven merchandising, in 2021, approximately 87% of our net sales were at full price, which we define as sales with a price of not less than 95% of the full retail price. Our approach facilitates constant newness, with over 1,300 new styles launched per week on average in 2021. We have complemented these efforts with an organization built from the ground up to make decisions in a data-first, customer-centric way. Our proprietary technology leverages data from a vast net of styles, attributes and customer interactions to create a strategic asset of hundreds of millions of data points. To improve on the merchandise offerings of traditional retail, we have built a custom, proprietary technology platform to manage nearly all aspects of our business, with a particular focus on developing sophisticated and highly automated inventory management, pricing and trend-forecasting algorithms. We believe that our model, which is more targeted than department stores or mass-market online retailers and provides a greater selection and access than specialty retailers, allows us to more effectively serve consumers. Our co-chief executive officers founded REVOLVE in 2003 with the vision of leveraging digital channels and technology to transform the shopping experience, offering a scaled, one-stop destination for youthful, aspirational consumers. 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. 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. “We welcome that element, and will service it as best we can, but we’re certainly not building our business around it.REVOLVE is the next-generation fashion retailer for Millennial and Generation Z consumers. “Other people have built their business around celebrity following and that’s great, but us trying to do the same thing wouldn’t make sense,” he said. Actress Scarlett Johansson wore two dresses from for recent “Vicky Cristina Barcelona” press interviews, but courting celebrity clientele, Mente said, is not Revolve’s goal. The shop, like the site, will continue to work with celebrity stylists such as Nicole Chavez and Eric Damon. The site’s new “try-on” feature will allow local shoppers to request an online item be sent from the Cerritos warehouse to the store to sample the fit and style. “It’s a little like curating a collection in an art gallery,” Mente said. The shop will carry about 10 percent of the 500-plus brands available on the Web site, offerings that will change every few weeks to keep in step with customer buying habits and new arrivals. Revolve has a five-year lease on the Melrose Avenue space, with a five-year extension clause. Collections the firm sells include L.A.M.B., Citizens of Humanity and Abaeté. Mente said it made more sense to wait until business was strong enough that the store could host events and parties and function as a showpiece for the contemporary collections it carries. Revolve is on a popular stretch of Melrose Avenue that’s home to Theory, Nanette Lepore, and soon Vera Wang, though the company came very close to opening a brick-and-mortar location about three years ago on the boutique-rich stretch of Los Angeles’ Third Avenue.
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