olivLaw · US equity research
Revolve Group, Inc. RVLV
Retail-Catalog & Mail-Order Houses · SIC 5961 · Vertical: Retail-Catalog & Mail-Order Houses (SIC 5961)
Revolve Group is a premium online fashion retailer serving Millennial and Generation Z consumers, combining a curated catalog, owned brands and a data-driven technology platform. It generated net sales of 1.2 billion USD in fiscal 2025, and sales growth accelerated in the second quarter of 2026, which makes its profile relevant while premium fashion demand and tariff costs remain volatile.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Revolve Group, Inc. (RVLV) stock was 19.98 USD (−7.20% on the day), with P/E 21.8 on diluted EPS of 0.92 USD over the last 12 months, beta 1.56, 52-week range 17.51–31.45 USD. Latest reported quarter (Q3 2026): revenue of 356.0 m USD (+20.4% YoY), net income of 14.5 m USD (−31.7% YoY), diluted EPS 0.20 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 35.9
- weak (30–45)
- Bollinger (20, 2)
- 20.66 – 23.62
- below the lower band · %B -0.23 · band width 13.3%
- SMA 50 / 200
- 21.61 / 23.18
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.05 / 0.16
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −5.1% | −1.1% | −4.0 pp | — |
| 3 months | −21.0% | −0.5% | −20.6 pp | — |
| 6 months | −1.0% | +4.4% | −5.4 pp | — |
| Year to date | −33.8% | +12.3% | −46.1 pp | — |
| 1 year | 0.0% | +13.5% | −13.5 pp | +6.8% |
| 3 years | +49.7% | +76.4% | −26.7 pp | +12.3% |
| 5 years | −75.5% | +63.7% | −139.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 293.7 m | 296.7 m | 309.0 m | 295.6 m | 324.4 m | 342.9 m | 347.4 m | 356.0 m |
| Cost of revenue | 139.4 m | 142.4 m | 141.9 m | 134.1 m | 151.5 m | 162.3 m | 150.7 m | 164.2 m |
| Gross profit | 154.3 m | 154.3 m | 167.1 m | 161.5 m | 172.9 m | 180.6 m | 196.7 m | 191.8 m |
| Operating income | 11.4 m | 14.7 m | 18.0 m | 21.0 m | 20.6 m | 15.7 m | 22.1 m | 19.0 m |
| Depreciation & amortisation | 928.0 k | 1.0 m | 1.4 m ≈ | 1.0 m ≈ | 1.2 m | 1.3 m | 1.7 m ≈ | 1.7 m ≈ |
| Pre-tax income | 14.6 m | 15.6 m | 15.1 m | 28.3 m | 23.3 m | 18.5 m | 24.9 m | 21.3 m |
| Income tax | 2.9 m | 4.2 m | 5.1 m | 7.1 m | 4.8 m | 4.7 m | 6.2 m | 5.7 m |
| Net income | 12.3 m | 11.8 m | 10.2 m | 21.2 m | 18.6 m | 14.4 m | 18.6 m | 14.5 m |
| Diluted EPS | 0.17 ≈ | 0.16 | 0.14 | 0.29 | 0.26 ≈ | 0.20 | 0.26 | 0.20 |
| Operating cash flow | 3.9 m | 45.1 m | 12.6 m ≈ | 11.8 m ≈ | -10.2 m | 49.4 m | -8.2 m ≈ | -24.3 m ≈ |
| Capex | 1.8 m | 1.8 m | 2.2 m ≈ | 4.3 m ≈ | 3.1 m | 5.0 m | 2.8 m ≈ | 3.1 m ≈ |
| Share repurchases | -98.0 k | — | — | 283.0 k ≈ | 0 | — | — | 73.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 4 percentile of its own 24-quarter history (min 20.2, median 35.6, max 62.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 498.7 m | 601.0 m | 580.6 m | 891.4 m | 1.1 bn | 1.1 bn | 1.1 bn | 1.2 bn |
| Revenue YoY | +24.8% | +20.5% | −3.4% | +53.5% | +23.6% | −3.0% | +5.7% | +8.5% |
| Net income | 30.7 m | 35.7 m | 56.8 m | 99.8 m | 58.7 m | 28.1 m | 49.6 m | 61.7 m |
| Net income YoY | +473.9% | +16.2% | +59.2% | +75.8% | −41.2% | −52.0% | +76.1% | +24.5% |
| Diluted EPS | 0.44 | -0.09 | 0.79 | 1.34 | 0.79 | 0.38 | 0.69 | 0.86 |
| Diluted EPS YoY | +450.0% | −120.5% | unavailable | +69.6% | −41.0% | −51.9% | +81.6% | +24.6% |
| net % | 6.2% | 5.9% | 9.8% | 11.2% | 5.3% | 2.6% | 4.4% | 5.0% |
| Free cash flow | 23.6 m | 33.6 m | 71.4 m | 60.1 m | 18.3 m | 39.1 m | 21.0 m | 48.0 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 292.3 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 512.5 m USD
- Total assets
- 765.0 m USD
- Debt / equity
- unavailable
- Current ratio
- 2.81x
- ROE
- 13.0%
- ROA
- 8.6%
- FCF margin
- 3.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 580.6 m | 891.4 m | 1.1 bn | 1.1 bn | 1.1 bn | 1.2 bn | SEC (XBRL)· 25 Feb 2026verified |
| Cost of revenue | 275.4 m | 401.6 m | 509.1 m | 514.5 m | 536.6 m | 569.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Gross profit | 305.3 m | 489.8 m | 592.3 m | 554.2 m | 593.3 m | 655.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | 61.1 m | 105.3 m | 73.1 m | 22.1 m | 51.4 m | 74.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Depreciation & amortisation | 4.8 m | 4.5 m | 4.8 m | 5.1 m | 4.4 m | 4.6 m | SEC (XBRL)· 25 Feb 2026verified |
| EBITDA | 65.9 m ≈ | 109.8 m ≈ | 77.9 m ≈ | 27.2 m ≈ | 55.8 m ≈ | 78.9 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Pre-tax income | 60.1 m | 104.7 m | 76.6 m | 37.8 m | 64.4 m | 82.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | 3.3 m | 4.9 m | 17.9 m | 9.6 m | 15.7 m | 21.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Net income | 56.8 m | 99.8 m | 58.7 m | 28.1 m | 49.6 m | 61.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | 0.79 | 1.34 | 0.79 | 0.38 | 0.69 | 0.86 | SEC (XBRL)· 25 Feb 2026verified |
| Weighted average diluted shares | 72.1 m | 74.5 m | 74.5 m | 73.6 m | 71.7 m | 72.1 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 146.0 m | 218.5 m | 234.7 m | 245.4 m | 256.6 m | 292.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 4.6 m | 4.6 m | 5.4 m | 12.4 m | 10.3 m | 16.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Inventories | 95.3 m | 171.3 m | 215.2 m | 203.6 m | 229.2 m | 251.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 276.9 m | 439.8 m | 518.2 m | 528.6 m | 561.1 m | 647.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 11.2 m | 8.9 m | 8.9 m | 7.8 m | 8.9 m | 15.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | 2.0 m | 2.0 m | 2.0 m | 2.0 m | 2.0 m | 2.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.3 m | 1.2 m | 1.6 m | 1.9 m | 2.3 m | 2.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 305.8 m | 480.4 m | 579.3 m | 608.9 m | 665.5 m | 765.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | 39.3 m | 54.3 m | 50.8 m | 47.8 m | 45.1 m | 56.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 105.7 m | 160.2 m | 181.1 m | 189.6 m | 196.1 m | 230.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Total liabilities | 105.7 m | 163.4 m | 199.7 m | 223.7 m | 227.8 m | 252.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Equity | 200.1 m † | 317.0 m | 379.6 m | 385.1 m | 437.8 m | 512.5 m | SEC (XBRL)· 25 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 73.8 m | 62.3 m | 23.4 m | 43.3 m | 26.7 m | 59.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 2.3 m | 2.2 m | 5.2 m | 4.2 m | 5.6 m | 11.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | 71.4 m ≈ | 60.1 m ≈ | 18.3 m ≈ | 39.1 m ≈ | 21.0 m ≈ | 48.0 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | -2.3 m | -2.2 m | -5.2 m | -4.2 m | -9.1 m | -14.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | 8.7 m | 12.8 m | 887.0 k | -30.4 m | -5.4 m | -1.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Share repurchases | — | — | — | 30.9 m | 11.8 m | 2.0 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 43.8% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
44% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 15.31 – 27.98 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E15.31 – 27.98 (Mid 19.72)7 companies used · median multiple 21.5x · quartiles 16.7x – 30.5xAMZN, CDW, CHWY, GCT, HOUR, NSIT, VIPS
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 43.8% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 4.8% | 82 (vs peers) | 14% |
| FCF conversion · Quality | -11.0% | 0 (on a fixed band) | 14% |
| Revenue CAGR 3Y · Growth | 3.6% | 30 (on a fixed band) | 19% |
| EPS CAGR 3Y · Growth | 2.9% | 19 (on a fixed band) | 19% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.6x | 100 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | 21.8x | 50 (vs peers) | 24% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth25/100 · 2/2 factors with a value
- Quality41/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial50/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
REVOLVE GROUP, INC. (RVLV). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 1.2 bn USD in 2025; YoY growth 8.5%; net margin 4.8%; ROE 12.6%.
The estimated value range is 15.31–27.98 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 19.72 USD, the price of 19.98 USD leaves a potential of -1.3% (value / price − 1) and a margin of safety of -1.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 43.8% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 4.8%
- Current ratio: 2.6x
What contradicts it
- FCF conversion: -11.0%
- EPS CAGR 3Y: 2.9%
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Retail-Catalog & Mail-Order Houses (SIC 5961) · same industry (4-digit SIC) · compared with 28 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AMZNAmazon.com, Inc. | 2,876.6 bn | 21.5 | 27.4% | 16.9% | +12.4% | +14% / +82% |
| CDWCdw Corp | 21.1 bn | 19.7 | 42.5% | 4.5% | +6.8% | +17% / −20% |
| NSITInsight Enterprises, Inc. | 5.2 bn | 25.7 | 13.1% | 2.5% | −5.2% | +103% / +16% |
| JMIAJumia Technologies AG | 1.3 bn | — | -108.9% | -32.6% | +12.8% | −57% / +60% |
| BZUNBaozun Inc. | 597.0 m | — | -6.6% | -2.4% | +10.2% | +21% / +16% |
| LITBLightInTheBox Holding Co., Ltd. | 590.4 m | 68.0 | — | 3.7% | −12.1% | +42% / −63% |
| GCTGigacloud Technology Inc | 539.8 m | 13.7 | 32.3% | 10.6% | +11.1% | +56% / +495% |
| HNSTThe Honest Company, Inc. | 476.3 m | — | -6.9% | -3.6% | −1.9% | +65% / +86% |
| TDUPThredUp Inc. | 290.9 m | — | -39.2% | -6.9% | +19.5% | −71% / +12% |
| DIBS1stdibs.com, Inc. | 186.9 m | — | -9.2% | -8.5% | +1.5% | −3% / +30% |
| NXHNeighborhood Intelligence, Inc. | 163.0 m | — | -47.0% | -7.1% | −25.1% | −72% / −91% |
| AKAa.k.a. Brands Holding Corp. | 116.0 m | — | -29.5% | -4.8% | +4.4% | −26% / +9% |
| SFIXStitch Fix, Inc. | 79.5 m | — | -6.3% | -0.9% | +6.4% | −31% / −21% |
| HOURHour Loop, Inc. | 53.9 m | 37.0 | 21.8% | 1.1% | +3.0% | −28% / +3% |
| GROVGrove Collaborative Holdings, Inc. | 47.4 m | — | — | -4.1% | −14.6% | −19% / −44% |
| LVLULulu’s Fashion Lounge Holdings, Inc. | 31.0 m | — | -602.9% | -3.2% | −10.6% | +107% / −74% |
| UZXLinkage Global Inc | 21.7 m | — | -63.1% | -144.5% | −50.5% | −98% / unavailable |
| GIFTGiftify, Inc. | 21.1 m | — | -36.2% | -8.8% | −6.5% | −47% / −85% |
| CHWYChewy, Inc. | 2.3 k | 35.3 | 72.0% | 2.1% | +6.2% | −33% / +34% |
| QVCGQVC Group, Inc. | 8 | — | -6.3% | -0.2% | −7.8% | unavailable / unavailable |
| HEPSD-MARKET Electronic Services & Trading | — | — | -39.7% | -2.8% | +11.1% | +19% / +100% |
| VIPSVipshop Holdings Limited | — | 1.4 | 18.3% | 6.8% | +2.0% | −30% / −14% |
| RVLVRevolve Group, Inc. | — | 21.8 | 12.6% | 4.8% | +8.5% | 0% / +50% |
| PTRNPattern Group Inc. | — | — | 6.6% | 0.9% | +39.3% | +22% / unavailable |
| LUXELuxExperience B.V. | — | — | 63.3% | 45.2% | +50.1% | +7% / +224% |
1- and 3-year price returns: for RVLV from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
In brief
Revolve Group is a premium online fashion retailer serving Millennial and Generation Z consumers, combining a curated catalog, owned brands and a data-driven technology platform. It generated net sales of 1.2 billion USD in fiscal 2025 1, and sales growth accelerated in the second quarter of 2026, which makes its profile relevant while premium fashion demand and tariff costs remain volatile 3.
SWOT
Strengths
- A proprietary technology platform and a large data set allow precise management of inventory and pricing, with a high share of full-price sales 1.
- Owned brands have a consistent social following and are sold at prices close to premium third-party brands, which supports margins 1.
- The balance sheet remains debt free, and the company continued its share repurchase program in 2026 3.
Weaknesses
- Marketing and distribution costs are rising as a share of sales, which compresses operating efficiency in some quarters 3.
- Operating cash flow fell in 2026 compared with the prior year, due to unfavorable working capital changes 3.
- Reliance on manufacturing in China for a significant part of products exposes the company to supply and cost risks 1.
Opportunities
- Expansion into physical retail and a namesake brand could open new growth channels, according to management 3.
- International markets, where sales are growing faster than in the U.S., could contribute a larger share of revenue 3.
- Difficulties at some luxury competitors could allow financially sound companies to gain market share 1.
Risks
- Tariff exposurehigh
Tariffs on imports from China and other countries could raise cost of sales and reduce gross margin if they cannot be passed on to customers 1.
- Inventory managementhigh
Demand is hard to forecast, and excess or insufficient inventory can affect operating results and inventory values 13.
- High return ratesmedium
A generous return policy can lead to higher returns, which could affect results and financial position 1.
- Shifting consumer preferencesmedium
If the company does not anticipate fashion trends quickly, the brand could lose loyalty among younger customers 1.
- Transport and logistics costslow
Higher shipping rates could reduce distribution efficiency, as the cost trend in the second quarter of 2026 indicates 3.
Investment thesis
What would need to be true (bull case)
- Net sales growth accelerated for three consecutive quarters, and active customer growth reached its highest rate in nearly three years 3.
- Gross margin and profitability rose in the second quarter of 2026, partly due to tariff refunds, and the full-year gross margin outlook was kept 3.
- A debt-free balance sheet and a share repurchase program give the company financial flexibility 3.
What would break the thesis
- Operating cash flow declined in the first half of 2026, and free cash flow was negative in the second quarter 3.
- Marketing and distribution costs are rising as a share of sales, and the general and administrative cost outlook was raised 3.
- Exposure to tariffs and trade policy remains a source of uncertainty, even though some refunds have been received 13.
What to watch
- Evolution of net sales and active customersQ3 2026
- Delivery against gross margin and marketing expense guidance2026
- Final effect of the IEEPA tariff decision on refundsnext 10-K
- Trend in free cash flow and working capitalQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
The business
Revolve Group, Inc. (NYSE: RVLV) presents itself as a next-generation fashion retailer selling apparel, footwear, beauty and accessories online, with over 140,000 styles and over 1,600 emerging, established and owned brands 1. The company was founded in 2003 by its two co-chief executive officers and argues that its curated, data-driven model differentiates it from premium department stores and from specialty retailers with narrow assortments 1. Operations run on one technology platform, focused on inventory, pricing and trend forecasting through proprietary algorithms 1. In fiscal 2025, owned brands represented 19.8% of REVOLVE segment net sales, and full-price sales were about 81.4% of net sales 1.
The marketing model combines social campaigns, an influencer network and paid performance marketing, and the company says its free shipping and no-hassle returns, offered since launch, support customer loyalty 1. Active customers were 2.8 million in fiscal 2025 and average order value was 299 USD 1. The company operates mainly through two segments, REVOLVE and FWRD, and expansion abroad, while keeping the core U.S. market as focus, is a strategic priority 1.
In the quarter ended June 30, 2026, net sales reached 347.4 million USD and trailing 12-month active customers grew 11% year over year 3. The company announced a first-ever namesake label, REVOLVE Los Angeles, and the launch of a beauty line made with a celebrity partner, both in a phase of heavier marketing investment 3.
Segments
Market context
The company operates in the large and growing apparel, footwear, beauty and accessories sectors, and management believes favorable demographic trends and innovation in fashion and customer experience can support long-term growth 1. Mobile devices accounted for 77.2% of total orders in fiscal 2025, but most retail sales still occur in physical stores, which keeps the omnichannel model relevant 1.
The market is competitive, and the sources name national retailers with broad assortments, specialty boutiques and pure-play digital retailers as rivals 1. The company argues that financial difficulties at some luxury players create an opportunity for financially stronger competitors to gain share 1.
Trends
- Millennial and Gen Z purchasing powertailwind
Purchasing power is shifting toward Millennials, whose share of U.S. household net worth nearly tripled compared with 2019, according to data cited by the company 1. This could support demand for brands aimed at this audience.
- Tariffs and import costsheadwind
Tariffs on goods from China reached a total rate of 152.5% at various points in 2025, raising sourcing costs 1. The Supreme Court ruling of February 2026 on IEEPA tariffs produced tariff refunds, but their final effect remains undetermined 13.
- Discretionary consumer spendingheadwind
Sales of non-essential goods tend to decline when consumer confidence weakens, and the company acknowledges it cannot predict when macroeconomic uncertainty will arise or ease 1.
- Influencer and social media marketingmixed
Younger consumers draw inspiration from social content and influencer recommendations, and the company invests heavily in this area, which raised marketing costs as a share of sales in the second quarter of 2026 13.
Competitive position
The sources do not give a full list of direct competitors, but they describe rival categories: national retailers with broad assortments, curated specialty boutiques and pure-play digital retailers with transactional experiences 1. The company considers itself the leading U.S. online destination for premium fashion aimed at the next generation 1.
Among competitors named explicitly is FWRD, which appears in the filings as part of the same group and, by analogy, as a reference for online luxury 1. According to the company, its differentiation rests on owned brands, editorial content and an almost entirely full-price sales mix 1.
- National retailers with broad assortments
Cited as retailers targeting a broad demographic but lagging in trend adaptation and customer service, per the company 1.
- Specialty boutiques
Highly curated but with a narrow assortment and limited reach, as described in the source 1.
- Pure-play digital retailers
Purely transactional shopping experience without original editorial content, per the company's description 1.
- Luxury houses hit by insolvency
Luxury retail players that entered insolvency proceedings, leaving room for financially sound competitors, according to the source 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Revolve Data Breach Impacts at Least 180,000 PeopleSecurityWeek · 02 Nov 2026 · EN
- Retailer Revolve announces partnership with Donatella VersaceCNBC World · 21 Sept 2026 · EN
- Revolve Renewable Power Secures $24 Million from Mexico Bank for Project FinancingYahoo Finance — News · 27 Aug 2026 · EN
The latest news item in our archive is from 02 Nov 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Current report30 Oct 2026Other events · Financial statements and exhibits
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations · Financial statements and exhibits
- Current report09 Jun 2026Shareholder vote
- Current report03 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 May 2026
- Current report05 May 2026Results of operations · Financial statements and exhibits
- Proxy statement24 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Revolve Group, Inc. · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Revolve Group, Inc. · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Revolve Group, Inc. · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.