Revolve Group opened the year with double-digit growth, driven by market expansion and strong customer demand.

First quarter net sales reached $342.9 million, up 16 per cent from a year earlier. Gross profit increased 17 per cent to $180.6 million, while net income rose 21 per cent to $13.8 million. 

Meanwhile, adjusted EBITDA climbed 9 per cent to $21.1 million.

The fashion retailer credited the growth to an expanding customer base, with active customers increasing 8 per cent year-on-year to nearly 2.93 million.

International sales continued to outperform, increasing by 20 per cent, compared with 15 per cent growth in the domestic market.

By segment, the core Revolve business reported a 15 per cent rise in net sales to $293.2 million, while the Fwrd segment grew 17 per cent to $49.6 million. 

“Outstanding execution by our team within a dynamic operating environment led to strong first quarter results and continued market share gains,” said Mike Karanikolas, co-founder and CEO, Revolve Group.

Looking ahead, co-founder and CEO Michael Mente said the company will continue to invest in various growth strategies.

“We have also made exciting we believe could be game changers longer term, including the launch of our first-ever namesake label, Revolve Los Angeles, laying the foundation to expand our physical retail footprint to Miami, and an incredibly successful launch of Grow-Good beauty products created in partnership with Cardi B.”