Amidst news that Revolve Group (RVLV) has plans to open its first store in Los Angeles, the co-founders of the online fashion retailer talked about the future recently with Jim Cramer on "Mad Money."
Mike Karanikolas and Michael Mente, who are co-founders and co-CEOs of Revolve, told Cramer the company is expanding globally, including recent efforts in Canada.
Karanikolas said that Revolve continues to see strength in its brand and all of its key metrics are near all-time highs.
Real Money's Bruce Kamich says Revolve's charts are sending mixed messages. Shares recently saw a retest of their January low, swinging sharply in intraday trading on high volume that showed "traders recognized and acted on the big swing down and back up," Kamich wrote. However, "prices are still below the declining 50-day moving average line and below the 200-day line."
Mente told Cramer that this year's Super Bowl event was a huge win for the company. Celebrities love Revolve clothes, he said, and when they wear them, social media helps spread the word. Mente was also looking forward to the return of the Revolve Festival this year, after a two-year, pandemic-induced hiatus.
When asked why its platform is so good, Karanikolas explained the company's background isn't in fashion, it's in business and technology. Using automation, Revolve can make recommendations, process orders and manage the customer experience better than the competition.
Revolve’s plans to open a brick and mortar store in Los Angeles has been widely reported in the fashion press.
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