Millennial Online Fashion Retailer Revolve Trending In Wall Street Debut

by MR Magazine Staff

California-based, millennial-focused online fashion retailer Revolve Group Inc.’s stock jumped Friday in its trading debut, after raising $212 million in its initial public offering. Selling on the New York Stock Exchange under the symbol RVLV, shares quickly climbed to $27.01, 50% above their IPO price, valuing Revolve at about $1.8 billion. By mid-afternoon, the stock price exceeded $34. In a Thursday statement, Revolve said it had sold 11.8 million shares for $18 each, the top of a marketed range of $16 to $18 for the IPO. Revolve’s offering follows September’s listing by luxury-clothing platform Farfetch Ltd., which raised $855 million in its U.S. IPO. Read more at Fortune.