Revolve To Launch Social Club Where Everyone Can Be An Influencer
Online fashion retailer, Revolve, has fast gained a cult-like following amongst millennials and Gen Z consumers for its strong aesthetic, attention to curation and hefty investments in over-the-top influencer events that are filled with Instagram-worthy moments.
Even as Revolve was forced to pivot from largely selling lavish night-out party dresses to a more diverse offering that caters to those at home during the pandemic, its business has not slowed. The company reported fourth-quarter and full-year results Wednesday, bringing in $891 million in net sales in 2021, up from $600 million in 2019. The company generated a net income of $99.8 million in 2021, compared to $35.6 million in 2019.
The growth has come as Revolve has mastered the art of not only gaining new shoppers but also keeping them loyal. More on that here.
But now the company is taking a new approach to building its business with the opening of the Revolve Social Club in Los Angeles area next month. The club will not only be accessible to influencers but also shoppers.
The new space will feature a lounge, cafe, bar, and decorated walls, serving not just as a place to rest and recharge, but also shop for Revolve-exclusive brands like Song of Style and Camila Coelho, in addition to other labels such as Levi’s and Free People. The opening of the Social Club marks the company’s foray into physical retail.
The best part? Influencers can access it regardless of their follower count.
“Of course, there will be a number of influencers constantly promoting,” said Michael Mente, co-chief executive of Revolve. “But giving the consumer the experience of the VIP … is the evolution of where we’re going.”
But Revolve isn’t ditching its VIP access-only criteria behind. The new space will include a second floor, with a members-only gym and wellness center.
The move is a big one for Revolve as prior to the Revolve Social Club, all events hosted by the fashion retailer, even pop-up events, were geared toward celebrities and fashion influencers. The idea was to have all that were invited to flood social media with Instagramable content.
That is a tactic that has been key to Revolve’s success. The company’s stock has climbed 44% since it went public in June 2019, and it has surpassed earnings per share four times over the past year.
While its remains to be seen how the Social Club will play into Revolve’s success in the future, it is clear that the brand is moving away from exclusivity and the creation of major FOMO (fear of missing out) to a more all is welcomed and inclusivity approach.