Co-founders Michael Mente and Mike Karanikolas started out a company named Revolve with only $50000, it is now a profitable business with $100 million in sales. Revolve based in Los Angeles, holds cult status with a trendy, social media savvy twenty something who is not afraid to experiment and loves to dress up. It is way ahead in the E-commerce business than most of the big players like NastyGal, Farfetch, and Honest Company, it has grown more than 50% each year since 2012. The two co-founders knew as “The Mikes” to their 500 employees have maintained a low profile, with no tech blog hype, celebrities attached to the brand or huge amounts of venture capital.
“Chasing revenue and growth without really understanding the guts of the business is something that venture capital will push you to do,we didn’t want to be at risk,” says Mente. Revolve was born out of their fascination with trends in online search. When they observed that thousands of people were searching for high-end designer jeans online, however only 4-6 kinds of pairs were available to purchase, it was the initiation of a simple yet brilliant concept. After an initial hesitation from certain designers, the business did take off. It now sells designer labels like Saint Laurent, Givenchy, and Alexander Wang. One of the secrets to success is that the collection is as fresh as can get. Revolve has hired young interns who fall into the category of their customer demographics, as these interns understand latest trends better than any high-end executives ever can. The Co-Founders are especially proud of the fact that Revolve is not a startup with a $1 billion valuation but an actual profitable business with $1 billion in actual sales.
