Latest news with #Revolve
Fibre2Fashion
3 days ago
- Business
- Fibre2Fashion
US' Revolve Q2 FY25 sales rise 9%, net income dips on one-off charges
American retailer Revolve Group has posted its second quarter (Q2) fiscal 2025 results, reporting a 9 per cent year-over-year (YoY) increase in net sales to $309 million, driven by growth in both Revolve and Fwrd segments. Gross profit also rose 9 per cent to $167.1 million, with gross margin improving slightly to 54.1 per cent, aided by a higher share of owned brand sales. The active customers rose 6 per cent to 2.74 million, with total orders placed growing 7 per cent. Despite these operational gains, net income fell 35 per cent to $10 million due to a swing in other income to a $2.9 million expense, higher foreign exchange losses, a $2.4 million non-cash charge from a subsidiary disposal, and an increased effective tax rate of 33.7 per cent. Revolve Group has reported a 9 per cent YoY rise in Q2 FY25 net sales to $309 million, with strong growth in both Revolve and Fwrd segments. Gross profit rose to $167.1 million, while net income dropped 35 per cent to $10 million. Adjusted EBITDA increased 12 per cent. The company raised its FY25 gross margin outlook and highlighted continued investment in AI, new brands, and retail expansion. Adjusted EBITDA improved 12 per cent YoY to $22.9 million, reflecting improved fulfilment and distribution efficiency. Diluted EPS dropped to $0.14 from $0.21 in Q2 FY24, Revolve said in a press release. The international net sales grew 17 per cent to $67.3 million, outpacing the 7 per cent growth in domestic sales. Cash and cash equivalents stood strong at $310.7 million, up 27 per cent YoY, with the company maintaining a debt-free balance sheet. Free cash flow for the quarter was $9.6 million. In Q2 FY25, the Revolve segment generated net sales of $268.4 million, marking a 9 per cent YoY increase. The Fwrd segment followed with $40.6 million in net sales, up 10 per cent. Domestically, sales reached $241.6 million, a 7 per cent rise, while international sales surged 17 per cent YoY to $67.3 million. 'This is our highest Adjusted EBITDA margin in three years, and our highest operating cash flow for any second quarter in the past four years,' said Mike Karanikolas co-founder and co-CEO at Revolve . 'I am especially proud of the team for delivering the strong second quarter results within such a volatile environment and amidst all the macro uncertainty surrounding tariff policy announcements in early April.' Looking ahead, Revolve expects gross margin for FY25 between 52.1 to 52.6 per cent—raised from the prior forecast of 50 to 52 per cent—while maintaining guidance for fulfilment, selling, and marketing expenses. The company also noted that July 2025 net sales grew approximately 7 per cent YoY. Revolve's Q3 FY25 guidance includes a gross margin between 51.2 and 51.7 per cent and G&A expenses of $38.5 million. 'Our ability to deliver profitable growth and market share gains in the second quarter, while at the same time continuing to invest in exciting long-term growth drivers, is a true reflection of the platform we have built, our operating excellence, and the team's ability to execute,' said Michael Mente, co-founder and co-CEO at Revolve . 'Importantly, our healthy cash flow generation gives us the capacity to continue to invest in exciting initiatives such as AI enhancements, developing new owned brands, physical retail exploration, and category expansion that collectively have the potential to accelerate our profitable growth and market share gains for years to come.' Fibre2Fashion News Desk (SG)
Yahoo
3 days ago
- Business
- Yahoo
Revolve's Q2 Sales Rise 9% as Customer Counts and Average Spend Both Rise
Revolve's bottom line took a tax-related hit in the second quarter, but the party-ready e-commerce company continued to show top-line growth. Revolve's second-quarter net income fell to $10 million from $15.4 million a year earlier, hit by the timing of certain tax items the company expected to record this quarter. More from WWD Ariana Greenblatt Curates '90s and Y2K-inspired Summer Collection With Revolve On Released a New Swiss-Inspired Sneaker Only Available at Revolve and Fwrd Halle Berry, Gabrielle Union, Jeannie Mai and More Stars Attend Oscars After Party Raising Funds for Eaton Wildfire Victims Still, diluted earnings per share of 13 cents came in 1 cent ahead of the 14 cents analysts had penciled in, according to Yahoo Finance. And adjusted earnings before interest, taxes, depreciation and amortization rose 12 percent to $22.9 million. Gross margins increased 4 basis points to 54.1 percent of sales, getting a boost from a higher mix of owned brands. Overall sales increased 9 percent to $309 million. Sales at the Revolve division also rose 9 percent to $268.4 million, while Fwrd was up 10 percent to $40.6 million. The company's top-line growth outpaced its active customer count, which rose to 2.7 million for the last 12 months, an increase of 6 percent. Cofounder and co-chief executive officer Mike Karanikolas told analysts on a conference call: 'Our customer base continues to increase and, on average, we are generating more revenue per active customer, helped by a lower return rate year-over-year in our successful efforts to capture a greater share of the consumer's wallet.' He also touted Revolve's international growth. While the business is still smaller abroad, at $67.3 million in sales in the quarter, that marked 17 percent growth. Michael Mente, cofounder and co-CEO, said the company — known for its high-profile events — is getting heard in a crowded market. 'Our brand-elevating Revolve Festival held in April set the tone for the second quarter by delivering significantly greater marketing impact of reduced spending year-over-year,' Mente said. 'Aspirational content from Revolve Festival in the Coachella Valley dominated social media feeds during the one-week period around our events.' Shares of Revolve rose 1.5 percent to $21 in after-hours trading on Tuesday. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Yahoo
6 days ago
- Business
- Yahoo
Revolve (RVLV) To Report Earnings Tomorrow: Here Is What To Expect
Online fashion retailer Revolve (NASDAQ:RVLV) will be reporting earnings this Tuesday after market close. Here's what to expect. Revolve met analysts' revenue expectations last quarter, reporting revenues of $296.7 million, up 9.7% year on year. It was a strong quarter for the company, with an impressive beat of analysts' EBITDA estimates and a narrow beat of analysts' number of active customers estimates. It reported 2.7 million active buyers, up 6% year on year. Is Revolve a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Revolve's revenue to grow 5.4% year on year to $297.6 million, improving from the 3.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.13 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Revolve has missed Wall Street's revenue estimates three times over the last two years. Looking at Revolve's peers in the consumer internet segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Carvana delivered year-on-year revenue growth of 41.9%, beating analysts' expectations by 5.7%, and Amazon reported revenues up 13.3%, topping estimates by 3.4%. Carvana traded up 17% following the results while Amazon was down 8.2%. Read our full analysis of Carvana's results here and Amazon's results here. Investors in the consumer internet segment have had steady hands going into earnings, with share prices flat over the last month. Revolve is up 1.6% during the same time and is heading into earnings with an average analyst price target of $23.21 (compared to the current share price of $20.69). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Vogue
01-08-2025
- Lifestyle
- Vogue
One Product, Endless Possibilities—The Allure of the Best Lip and Cheek Tints
Some days you're taking your time with full glam and others you're speeding through your quick makeup routine, during which the best lip and cheek tints can come in handy. What's not to love about a multi-hyphenate—both tinted lip balm and blush fused into one product. '[Lip and Cheek tints] are a simple yet effective makeup bag refresh,' pro makeup artist Suzy Gerstein tells Vogue, 'They're an easy way to sharpen up your look but still keep it lowkey.' Vogue's Favorite Lip and Cheek Tints The best versions blend seamlessly into skin, and stay put through sweltering commutes, rooftop drinks, and everything in between. Whether dabbed on with fingers in the back of a cab or built up with a brush for an statement-making flush, these hybrid staples are effortless as can be. What sets today's dual-action tints apart is their thoughtful formulation. Infused with potent ingredients—think soothing aloe, antioxidant-rich botanicals, and hydrating hyaluronic acid—many of these modern skincare-makeup hybrids do more than deliver color, actively nourishing skin wherever they're placed. From sheer balmy textures to buildable stains with surprising staying power, the latest crop of lip-and-cheek tints are proof that streamlined doesn't have to mean sacrificing sophistication. Scroll to discover Vogue's most-loved favorite formulas. In This Story Best Classic: Benefit Cosmetics Benetint Benefit Cosmetics Benetint Liquid Lip Blush & Cheek Tint $35 NORDSTROM $26 REVOLVE Why We Love It : The Benefit Cosmetics Benetint remains a coveted staple even decades after its 1976 debut.'It's glowy and stays in place all day without feeling heavy,' celebrity Makeup Artist Dom Della previously told Vogue. Fellow pro Alexx Mayo refers to it as 'tried and true,' whereas fellow makeup artist Sean Harris previously called it 'a classic for a reason.' The draw to the formula is its transfer-proof watery texture which delivers an unexpected punch of color on all skin tones—and one that will last throughout the night for smudge-free color. : The Benefit Cosmetics Benetint remains a coveted staple even decades after its 1976 debut.'It's glowy and stays in place all day without feeling heavy,' celebrity Makeup Artist Dom Della previously told Vogue. Fellow pro Alexx Mayo refers to it as 'tried and true,' whereas fellow makeup artist Sean Harris previously called it 'a classic for a reason.' The draw to the formula is its transfer-proof watery texture which delivers an unexpected punch of color on all skin tones—and one that will last throughout the night for smudge-free color. Key Ingredients : Glycerin : Glycerin Finish : Natural : Natural Shades : 6 : 6 Size: 0.33 oz / 6 mL Best Dewy: N.1 De Chanel Lip and Cheek Balm Vogue senior beauty writer Kiana Murden uses Chanel's No. 1 de Chanel Lip and Cheek Balm. Chanel N°1 de Chanel Lip and Cheek Balm $50 CHANEL Why we love it : When the clean No. 1 de Chanel collection debuted, this balm quickly became a fan-favorite for its multipurpose uses. Enriched with red camellia oil, the buttery lip and cheek pigment melts into the skin, leaving a flush of color with restored plumpness and dewiness. Chanel makeup artist Tasha Reiko Brown uses this 'highly blendable, dewy cream' to create watercolor effect. Her shades of choice? Vibrant Coral or Wakeup Pink, for a barely-there wash of color. : When the clean No. 1 de Chanel collection debuted, this balm quickly became a fan-favorite for its multipurpose uses. Enriched with red camellia oil, the buttery lip and cheek pigment melts into the skin, leaving a flush of color with restored plumpness and dewiness. Chanel makeup artist Tasha Reiko Brown uses this 'highly blendable, dewy cream' to create watercolor effect. Her shades of choice? Vibrant Coral or Wakeup Pink, for a barely-there wash of color. Key ingredients : Red camellia oil : Red camellia oil Finish : Dewy : Dewy Shades : 9 : 9 Size: 0.23 oz Best Viral: Milk Makeup Cooling Water Jelly Tint Lip + Cheek Milk Makeup Cooling Water Jelly Tint $26 AMAZON Why We Love It : One of 2024's breakout beauty hits that's still an editor staple is Milk Makeup's bouncy water tint. With the appearance of a tempting jelly dessert, one swipe delivers a sheer, dewy burst of color (and even a glossy lip). "This is such a great way to wake up the skin and get that no-fuss, long-wear natural flush,' pro makeup artist Sean Harris previously said of blush tints, noting watery, sheer pigments offer more subtle color than your average opaque blush. I love this for no makeup makeup—but it dries down super fast, so you've gotta get to blending ASAP. I'd recommend this for someone who isn't a total beginner, and more comfortable with blending out edges. : One of 2024's breakout beauty hits that's still an editor staple is Milk Makeup's bouncy water tint. With the appearance of a tempting jelly dessert, one swipe delivers a sheer, dewy burst of color (and even a glossy lip). "This is such a great way to wake up the skin and get that no-fuss, long-wear natural flush,' pro makeup artist Sean Harris previously said of blush tints, noting watery, sheer pigments offer more subtle color than your average opaque blush. I love this for no makeup makeup—but it dries down super fast, so you've gotta get to blending ASAP. I'd recommend this for someone who isn't a total beginner, and more comfortable with blending out edges. Key Ingredients : Vegan collagen, aloe, seawater : Vegan collagen, aloe, seawater Finish : Radiant : Radiant Shades : 6 : 6 Size: 0.17 oz Best for Mature Skin: Jones Road Miracle Balm Jones Road Miracle Balm $46 AMAZON Why We Love It : Jones Road's bestselling Miracle Balm delivers the ultimate soft-focus minimalist pigment with a radiant finish. Not to mention, the star ingredient, jojoba oil, is rich in antioxidants and anti-inflammatory properties, all while providing moisturizing benefits. 'Depending on what shade you choose, it can be used as a blush, a bronzer, a highlighter or an all-over tint,' renowned makeup artist Bobbi Brown previously told Vogue. 'Customers will sometimes tell us that they aren't getting enough payoff in the color but, that's usually because they haven't 'broken the seal' on the product to release the pigmentation'—do so for a more intense pigment. : Jones Road's bestselling Miracle Balm delivers the ultimate soft-focus minimalist pigment with a radiant finish. Not to mention, the star ingredient, jojoba oil, is rich in antioxidants and anti-inflammatory properties, all while providing moisturizing benefits. 'Depending on what shade you choose, it can be used as a blush, a bronzer, a highlighter or an all-over tint,' renowned makeup artist Bobbi Brown previously told Vogue. 'Customers will sometimes tell us that they aren't getting enough payoff in the color but, that's usually because they haven't 'broken the seal' on the product to release the pigmentation'—do so for a more intense pigment. Key ingredients : Jojoba oil, castor seed oil, beeswax, shea butter, hydrogenated castor oil : Jojoba oil, castor seed oil, beeswax, shea butter, hydrogenated castor oil Finish : Radiant : Radiant Shades : 13 : 13 Size: 1.75 oz Best K-Beauty: Fwee Blurry Pudding Pot Why We Love It : We guarantee you've never encountered a texture quite like this color pot—picture the bounce of a pudding fresh out of a fridge. 'Korean brands really excel at fun yet useful textures,' K-beauty expert Michelle Lee previously told Vogue. "You especially see this in the blush market right now, particularly with these Fwee's bouncy textured pudding pots.' Lee suggests swiping on this pick anywhere (lips, eyes, and cheeks) for a velvety matte flush. : We guarantee you've never encountered a texture quite like this color pot—picture the bounce of a pudding fresh out of a fridge. 'Korean brands really excel at fun yet useful textures,' K-beauty expert Michelle Lee previously told Vogue. "You especially see this in the blush market right now, particularly with these Fwee's bouncy textured pudding pots.' Lee suggests swiping on this pick anywhere (lips, eyes, and cheeks) for a velvety matte flush. Key Ingredients : Dimethicone, dimethicone crosspolymer, cocoa seed butter, agave leaf extract : Dimethicone, dimethicone crosspolymer, cocoa seed butter, agave leaf extract Finish: Blurred Blurred Shades : 35 : 35 Size: 0.17 oz. Best Blurred Matte: Bobbi Brown Pot Rouge Velvet Matte Bobbi Brown Pot Rouge Velvet Matte $38 BOBBI BROWN Why We Love It : Bobbi Brown's latest cream blush launched just three months ago—and it's entered the beauty scene with a bang. Housed in a tiny glass pot, the cream-to-powder formula has a velvety texture that delivers a soft matte finish. With one touch, it's hard not to appreciate the ultra-lightweight, whipped feel of the cream, adding a blurred, natural pop of color anywhere its deposited. : Bobbi Brown's latest cream blush launched just three months ago—and it's entered the beauty scene with a bang. Housed in a tiny glass pot, the cream-to-powder formula has a velvety texture that delivers a soft matte finish. With one touch, it's hard not to appreciate the ultra-lightweight, whipped feel of the cream, adding a blurred, natural pop of color anywhere its deposited. Key Ingredients : Dimethicone, dimethicone crosspolymer : Dimethicone, dimethicone crosspolymer Finish: Soft matte Soft matte Shades : 12 : 12 Size: 8.5 g Best Lightweight: Ilia Multi Stick Why we love it: Ilia's multi-stick leaves a natural flush on lips, cheeks, and lids, melting effortlessly into skin thanks to it's shea butter-based formula. Boasting an ultra-lightweight texture, this is the perfect product for the no makeup-makeup look, with a naturally rosy, skin-like result. Associate fashion director Madeline Fass considers this one of her favorite makeup products for subtle eye color; not to mention, celebrities like Brooke Shields and Diana Silvers who count this as a must-have. Ilia's multi-stick leaves a natural flush on lips, cheeks, and lids, melting effortlessly into skin thanks to it's shea butter-based formula. Boasting an ultra-lightweight texture, this is the perfect product for the no makeup-makeup look, with a naturally rosy, skin-like result. Associate fashion director Madeline Fass considers this one of her favorite makeup products for subtle eye color; not to mention, celebrities like Brooke Shields and Diana Silvers who count this as a must-have. Key Ingredients : Shea butter, avocado oil, orange peel wax : Shea butter, avocado oil, orange peel wax Type : Cream : Cream Finish: Luminous and natural finishes Luminous and natural finishes Shades : 12 : 12 Size: 8.5 g Best Hydrating: Kaja Dewy Bar Blush & Lip Balm Kaja Dewy Bar Blush & Lip Balm $25 NORDSTROM Why We Love It: A leading K-beauty pick, Kaja's jelly-like bar glides on with lightweight, yet buildable color. The formula is packed with fruit enzymes, delivering not just surface-level glow but deeply nourishing hydration. It's a favorite of Vogue's audience development associate manager Molly Barstein, known for her signature flushed cheeks. 'It's so easy—I literally just pop it in my bag and swipe it on my cheeks and lips whenever I need a touch-up," Barstein says. "It melts right in and blends like a dream.' A leading K-beauty pick, Kaja's jelly-like bar glides on with lightweight, yet buildable color. The formula is packed with fruit enzymes, delivering not just surface-level glow but deeply nourishing hydration. It's a favorite of Vogue's audience development associate manager Molly Barstein, known for her signature flushed cheeks. 'It's so easy—I literally just pop it in my bag and swipe it on my cheeks and lips whenever I need a touch-up," Barstein says. "It melts right in and blends like a dream.' Key Ingredients: Apple extract, green tangerine extract, vitamin C, hyaluronic acid Apple extract, green tangerine extract, vitamin C, hyaluronic acid Finish: Dewy Dewy Shades: 4 4 Size: 0.35 oz Best Affordable: Palladio I'm Blushing 2-in-1 Cheek and Lip Tint Palladio I'm Blushing 2-in-1 Cheek and Lip Tint $12 AMAZON Why We Love It : This one is for all the chubby makeup stick fans! Infused with skin-loving botanicals like aloe vera, chamomile, and ginseng, Palladio's 2-n-1 tint hydrates wherever applied and leaves behind a kiss of color. Aloe soothes and hydrates, chamomile calms sensitivity, and antioxidant-rich ginseng helps revitalize tired skin. The creamy formula glides on effortlessly, giving cheeks and lips a healthy, radiant glow without drying or caking. It's multitasking color with skin-care benefits built right in. Plus, this pick has 14,000+ glowing reviews on Amazon—so you could say it's pretty popular. All that for less than the cost of a smoothie in New York City? We're sold! : This one is for all the chubby makeup stick fans! Infused with skin-loving botanicals like aloe vera, chamomile, and ginseng, Palladio's 2-n-1 tint hydrates wherever applied and leaves behind a kiss of color. Aloe soothes and hydrates, chamomile calms sensitivity, and antioxidant-rich ginseng helps revitalize tired skin. The creamy formula glides on effortlessly, giving cheeks and lips a healthy, radiant glow without drying or caking. It's multitasking color with skin-care benefits built right in. Plus, this pick has 14,000+ glowing reviews on Amazon—so you could say it's pretty popular. All that for less than the cost of a smoothie in New York City? We're sold! Key Ingredients : Aloe vera, chamomile, ginkgo biloba, ginseng extract, safflower extract, camellia extract : Aloe vera, chamomile, ginkgo biloba, ginseng extract, safflower extract, camellia extract Finish : Radiant : Radiant Shades : 6 : 6 Size: 0.20 oz Best Clean: RMS Beauty Lip2Cheek Why We Love It : RMS has been all about clean beauty long before it was a thing. Lip2Cheek, its 2009 launch, is packed with powerful botanicals like wildcrafted buriti oil, shea and cocoa butters. Just the ticket for founder Rose-Marie Swift to awaken Victoria's Secret angels's skin back in their heyday, though it's not just for doe-eyed twenty-somethings. This pick is excellent for mature bombshells, too. 'Cream blush is fabulous for mature skin,' Swift previously told Vogue. 'It adds hydrating color to make the skin look more youthful.' : RMS has been all about clean beauty long before it was a thing. Lip2Cheek, its 2009 launch, is packed with powerful botanicals like wildcrafted buriti oil, shea and cocoa butters. Just the ticket for founder Rose-Marie Swift to awaken Victoria's Secret angels's skin back in their heyday, though it's not just for doe-eyed twenty-somethings. This pick is excellent for mature bombshells, too. 'Cream blush is fabulous for mature skin,' Swift previously told Vogue. 'It adds hydrating color to make the skin look more youthful.' Key ingredients : Wildcrafted buriti oil, shea butter, organic cocoa seed butter : Wildcrafted buriti oil, shea butter, organic cocoa seed butter Finish : Radiant : Radiant Shades : 8 : 8 Size: 0.17oz Best Long-Wearing: Freck Beauty Cheekslime Lip & Cheek Tint Why We Love It : Surely, you've heard of Freck Beauty's viral freckle pen. Now, allow us to introduce you to the brands long-wear lip and cheek color. This serum-like formula is infused with liquid plant collagen and botanicals for hydration, while the featured, copolymers keep color in place, leaving behind a blurred and natural finish that's undeniably stunning. : Surely, you've heard of Freck Beauty's viral freckle pen. Now, allow us to introduce you to the brands long-wear lip and cheek color. This serum-like formula is infused with liquid plant collagen and botanicals for hydration, while the featured, copolymers keep color in place, leaving behind a blurred and natural finish that's undeniably stunning. Key Ingredients : Carnauba wax, soybean seed extract, rice extract, ginseng root extract, copolymers : Carnauba wax, soybean seed extract, rice extract, ginseng root extract, copolymers Finish : Natural : Natural Shades : 6 : 6 Size: 15 ml Everything You Need to Know
Fashion United
01-08-2025
- Business
- Fashion United
Seafolly to open debut US flagship store in Corona Del Mar, California
Australian swimwear brand Seafolly is set to open its first-ever flagship store in the United States as part of its retail expansion. Slated to open on August 7 in Corona Del Mar, California, the opening comes as Seafolly continues to invest in strengthening its brick-and-mortar footprint. Located at 932 Avocado Avenue, the brand selected this particular location for its debut US store because the neighborhood 'immediately resonated' with Seafolly. The area is best known for its golden beaches, welcoming spirit, and love for the coastal lifestyle, all of which epitomize the brand's energy. In addition, the plaza is located in a prime area that aligns with Seafolly's values and commitment to offering quality products. 'Expanding into the US is a natural progression for Seafolly as we aim to bring our iconic Australian beach lifestyle to a global audience,' said Brendan Santamaria, CEO of Seafolly, in a statement. Interior of Seafolly's debut US flagship store Credits: Seafolly 'Opening our flagship store in Corona del Mar marks a significant milestone for us and presents an exciting opportunity to connect with new and existing customers who share our passion for coastal living, effortless style, and premium swimwear. We look forward to becoming a part of the Corona del Mar community.' The brand currently operates a series of stores across Australia and Singapore. Over the years, Seafolly has built a strong wholesale presence across the US in retailers including Nordstrom, Revolve, and Everything But Water. Founded in Australia in 1975, Seafolly is known for its bright, colorful yet laid-back designs. The brand has grown steadily over the years, gaining a global fan base due to its unique, quality beach designs. In 2020, Seafolly briefly entered into administration due to the 'crippling' financial impact of Covid-19, and was later sold in 2023 by private equity owner L Catterton to Bondi Brands Group in a deal that was valued at 70 million dollars.
