Dive Brief:
- Bringing its e-commerce strategy offline, Revolve Group is opening its first permanent brick-and-mortar store in Aspen, Colorado, the fashion retailer announced Friday.
- The debut storefront will feature apparel, footwear and accessories from both Revolve and Fwrd, as well as in-store shopping events and trunk shows. The first floor will feature Revolve brands like Lovers + Friends, Helsa and L’Academie, as well as other up-and-coming designers, according to the announcement. The store’s second floor will offer Fwrd luxury brands like Acne Studios and Isabel Marant, as well as pre-owned bags and accessories.
- The permanent store comes after a Revolve and Fwrd pop-up in the same space last December, which “not only drove substantial sales but also proved to be an exceptional channel for brand building and acquiring new customers,” the company said.
Dive Insight:
After building up its e-commerce model, Revolve Group joins other digital-first businesses and DTC brands in investing in physical stores, including Figs, Ernesta and Princess Polly.
Shoe brand Kizik in April also opened its first experiential pop-up shop in New York, where customers could see its hands-free shoes. The brand said it plans to expand to more than 500 wholesale locations this year and six stores. If those initial store openings go well, Kizik said it will open nine more stores next year.
Revolve Group, which went public in 2019 at a valuation of roughly $1.3 billion, decided to open its permanent store to target the affluent Aspen clientele after its pop-up success, the retailer said. The store opening is part of the company’s strategy to reach customers online and offline, the company said.
“Aspen represents the epitome of luxury, making it the perfect location for our first permanent storefront,” Michael Mente, co-CEO and co-founder of Revolve Group, said in a statement. “We are excited to bring our unique brand experience to a new audience, combining the convenience of online shopping with the personalized service and engagement that only a physical store can offer.”
Revolve’s brick-and-mortar push comes as the company endures a recent sales slump. In its full year 2023 results, the company reported a 3% dip year-over-year in net sales to $1.1 billion. Its net income also plunged by 52% from 2022 to $28.1 million.
Those losses continued into early 2024. In its Q1 earnings report, the company reported a 3% drop in net sales year-over-year to $270.6 million. Its first-quarter net income also dropped by 23% from last year to $10.9 million.
