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Another Soaring IPO Creates $1.5 Billion Fortune for Fashion Duo

  • Revolve Group’s June IPO was third-best trading debut in ’19
  • Founders Karanikolas, Mente own 56% of the online retailer
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Revolve co-CEOs Michael Karanikolas and Michael Mente interviewed on Bloomberg Television.Source: Bloomberg)

Online retailer Revolve Group Inc. says it offers about 1,000 new fashion items a week for sale. A glance at its website shows 233 new arrivals just dropped.

That rapid turnover and its use of social media have made Revolve one of the best performing initial public offerings this year and created a $1.5 billion fortune for founders and co-Chief Executive Officers Michael Karanikolas and Michael Mente.