TSG Announces Investment In REVOLVE
SAN FRANCISCO, CA, February 3, 2014 — TSG Consumer Partners LLC ("TSG"), a leading strategic equity investor in high-growth consumer brands, today announced a minority equity investment in REVOLVE, a leading online specialty retailer serving the upscale, fashion-savvy consumer.
Founded in Los Angeles in 2003 by Michael Mente and Mike Karanikolas, REVOLVE offers a wide selection of full-priced apparel, footwear and accessories from over 500 contemporary brands ranging from established labels to emerging designers. REVOLVE has been privately held, profitable and growing at double- and triple-digit rates since its founding. REVOLVE also operates a sister site, Forward by Elyse Walker, featuring luxury apparel and accessories.
“REVOLVE’s product assortment and creative vision stand out in the crowded online retail space and provide a platform on which to further expand the brand,” says Jennifer Baxter Moser, managing director at TSG. “TSG couldn’t be more excited about the partnership and the outlook for REVOLVE going forward.”
REVOLVE co-founder and co-CEO Michael Mente states, “We selected TSG Consumer Partners because they understand the REVOLVE brand DNA and our vision for what REVOLVE can become on a global level. Their expertise and willingness to think big and long-term make them the ideal partner. We were also attracted to TSG’s long and successful track record of building best-in-class brands,” he added.
“2013 was a great year and our business has had tremendous momentum,” said Mike Karanikolas, co-founder and co-CEO of REVOLVE. “We intend to carry this into 2014, channeling TSG’s investment into a fully re-designed customer experience, enhanced marketing efforts, and a continued focus on international expansion.”
To help improve REVOLVE’s already growing business, TSG will aid the brand on a variety of initiatives including marketing and brand building efforts. Early results demonstrate the partnership is already succeeding as the REVOLVE and FORWARD websites shipped over $150M combined in 2013, the best year in company history.
REVOLVE is the virtual home for an unrivaled collection of over 500 of the world’s most-coveted established and emerging contemporary brands in women’s and men’s designer apparel, shoes and accessories. Providing the highest quality online and mobile shopping experience, serving the style-savvy consumer with impeccable customer service and amenities, where customer satisfaction always comes first. Based in Los Angeles, REVOLVE’s aesthetic is deeply rooted in the Southern California lifestyle from which it was founded, where a savvy view of fashion and fun-loving attitude are infused into the entire REVOLVE customer experience. For more information please visit www.revolveclothing.com and www.forwardbyelysewalker.com.