A West Hollywood store called Maxfield was introducing wealthy Angelinos to sophisticated runway fashions from Paris and Milan. The hot stores in Los Angeles at the time were Fred Segal and Lisa Klein, which sold cool but faddish trendy clothes. The two were heavily influenced by the city in which they lived. Mente and Karanikolas say they reached out to Kim Kardashian via MySpace but failed to clinch a deal with her. Social media wasn’t yet a thing - with the exception of MySpace- but the paparazzi were shooting images of Lindsay Lohan, Paris Hilton and Gwyneth Paltrow. Rachel Zoe was styling the Olsens in the boho-chic look that defined the generation for a decade or so, and soon became Revolve’s first stylist, advising them on their website, which was considered a risky bet at the time. “It was an incredible time to be around with the rise of the internet, which coincided with the rise of millennials.” “We were in our 20s at the time and this was our peer set,” says Mente. With the rise of TikTok, we’re able to reach the younger generation.”Īs they launched Revolve, their instincts were about a generation they knew well - their own. Long-form blogs are “still relevant”, Mente says, but not for Gen Z: “I don’t think younger people are going to read blog articles and get their style that way. At the last Revolve Festival in 2019, TikTok was a “fringe thing”, says Mente - this year it’s the primary social platform to meet Gen Z customers. Revolve continues to look at more established platforms, including Twitter, Facebook and YouTube, as sources of new customers, as well as researching opportunities in the metaverse. The brand is also increasingly cross-marketing the sister sites, just a click apart on each website.Īs its customer base evolves, Revolve is examining the role of different social media platforms in growing its reach. To increase its appeal to younger shoppers, last year Revolve brought on Kendall Jenner as Fwrd’s creative director, with her “picks” featured on a special section of the website. So while its internal data shows that younger clients tend to buy ready-to-wear such as a $250 dress at, they also peer at designer-priced accessories and handbags at Fwrd. Those Gen Z Revolve shoppers, though, are tomorrow’s Fwrd clients, and the company has learned to nudge today’s customers toward the future. “The investor group isn’t used to a company downplaying expectations,” Jacob says.Ĭhiara Ferragni at Revolve’s Grove pop-up in 2014. Matt Jacob, an analyst with M Science, says recent warnings from Revolve management that supply chain concerns could limit product availability have also spooked investors. Despite a solid financial performance in the first quarter of this year, Revolve stock has faced a sell-off since May on apparent doubts about its future growth potential. Market pressures are building for Revolve to prove it can maintain the momentum of its past in the new age of TikTok and the dawning metaverse. But the Los Angeles-based company that calls itself the “next generation” fashion retailer is facing a very different world now - one where it is no longer led by the next generation, and where its data-driven approach isn’t singular. Among them, Revolve’s invite-only Coachella-adjacent festival returned in May, complete with celebrity sightings, an Instagrammable pink fairground swing and performances by American rappers Post Malone and Jack Harlow. In-person music festivals have roared back after a pandemic hiatus. To receive the Vogue Business newsletter, sign up here.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |