REVOLVE Set to Join Russell 3000® Index
June 17 2021 - 9:00AM
Business Wire
Revolve Group, Inc. (NYSE: RVLV), the next-generation fashion
retailer for Millennial and Generation Z consumers, announced today
that it is set to join the broad-market Russell 3000® Index at the
conclusion of the 2021 Russell indexes annual reconstitution,
effective after the US market opens on June 28, 2021, according to
a preliminary list of additions posted earlier this month.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 7, 2021, ranking them by total market
capitalization. Membership in the US all-cap Russell 3000® Index,
which remains in place for one year, means automatic inclusion in
the large-cap Russell 1000® Index or small-cap Russell 2000® Index
as well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
“Joining the Russell 3000 Index will increase REVOLVE’s exposure
to the investment community at an exciting time after we delivered
record profitability and cash flows in 2020 and returned to strong
year-over-year growth in net sales during the first quarter of 2021
as economies began to reopen,” said chief financial officer Jesse
Timmermans. “We welcome the enhanced visibility of our long-term
growth potential and look forward to sharing our future milestones
with a broader investment community as we continue on our vision of
building an iconic brand and the fashion destination for the
next-generation consumer.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $10.6 trillion in
assets are benchmarked against Russell’s US indexes. Russell
indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About Revolve Group, Inc.
Revolve Group, Inc. (RVLV) is the next-generation fashion
retailer for Millennial and Generation Z consumers. As a trusted,
premium lifestyle brand, and a go-to online source for discovery
and inspiration, we deliver an engaging customer experience from a
vast yet curated offering of apparel, footwear, accessories and
beauty styles. Our dynamic platform connects a deeply engaged
community of millions of consumers, thousands of global fashion
influencers, and hundreds of emerging, established and owned
brands.
We were founded in 2003 by our co-CEOs, Michael Mente and Mike
Karanikolas. We sell merchandise through two complementary
segments, REVOLVE and FORWARD, that leverage one platform. Through
REVOLVE we offer an assortment of premium apparel and footwear,
accessories and beauty products from emerging, established and
owned brands. Through FORWARD we offer a highly-curated assortment
of iconic and emerging luxury brands. For more information, visit
www.revolve.com.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $17.9
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create ETFs, structured products
and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Forward-Looking Statements
This press release contains ‘‘forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical or current fact included in this press
release are forward-looking statements, including but not limited
to statements about our beliefs regarding inclusion in the Russell
3000® Index and the potential benefits thereof. Forward-looking
statements include statements containing words such as “will,”
“expect,” “anticipate,” “believe,” “project,” and similar
expressions intended to identify forward-looking statements. These
forward-looking statements are based upon our current expectations.
Forward-looking statements involve risks and uncertainties. Our
actual results and the timing of events could differ materially
from those anticipated in such forward-looking statements as a
result of these risks and uncertainties, which include, without
limitation, risks related to the final reconstitution process, the
continued impact of the COVID-19 pandemic on our business,
operations and financial results; demand for our products; general
economic conditions; our fluctuating operating results; seasonality
in our business; our ability to acquire products on reasonable
terms; our online business model; our ability to attract customers
in a cost effective manner; the strength of our brand; competition;
fraud; system interruptions; our ability to fulfill orders; and
other risks and uncertainties included under the caption “Risk
Factors” and elsewhere in our filings with the Securities and
Exchange Commission, or SEC, including, without limitation, our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2021.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. All forward-looking statements are qualified in
their entirety by this cautionary statement, and we undertake no
obligation to revise or update any forward-looking statements to
reflect events or circumstances after the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20210617005242/en/
Investor Relations Contact:
Erik Randerson, CFA 1-562-677-9513 IR@revolve.com
Media Contact:
Simone Kuhfal Simone.Kuhfal@revolve.com
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