The e-commerce company is going bigger in luxury and posting big sales numbers in the process.
“When the consumer is able to travel, that’s the real mark we’re fully back,” he said. “For us, there’s an extra gear to shift to.” Revolve’s fourth-quarter profits increased 55 percent to $29.4 million from $19 million a year earlier, as sales jumped 70 percent to $239.8 million from $140.8 million. By division, Revolve sales increased 68 percent to $200 million while Fwrd rose 83 percent to $39.8 million.
Last year, the company’s profits tallied $99.8 million, up 76 percent from $56.8 million in 2020 and well ahead of the $35.7 million seen in 2019. Sales of $891.4 million rose 54 percent from $580.6 million in 2020 and far exceeded the $601 logged in 2019. The company has also figured out how to shift more of its Revolve shoppers over to the Fwrd platform, making strategic use of its loyalty program. “The overlap of Revolve customers who shop on Fwrd is still in the single digits,” Mente said. “We’re quite confident that we can continue this growth for years on end.”