DTC's Daily Digest gives you the latest news on the fastest growing brands in the world. In today's edition: The first day of the Revolve trading group breaks expectations; Stitch Fix diversifies the marketing portfolio. Moniz adds pots.
The first day of trading Revolve Group breaks expectations
Spin the group Rose 90.4% To $ 34.26 (£ 27.01) on the first day of the e-commerce retailer on Friday. The first deal on Friday for Revolve was at $ 25.16 (£ 19.83), 40% higher than the initial public offering price of $ 18.19 (£ 14.19).
Spin, an online fashion retailer that Has made itself the "next-generation fashion retailer for millennia consumers," raising $ 52.2 million (£ 41.2 million) through the sale of 2.9 million shares. The IPO price was set at the highest expected range from US $ 16 to US $ 18 per share.
"Investors have not only been attracted to strong revenue growth, but the fact that the company was profitable in 15 of 16 years is something investors have attracted in the long term," said Jeff Zell, chief research analyst at IPO Boutique. "E-commerce companies with a desirable audience for thousands of years, one reaching its peak in spending years, are an area where investor appetite is exceptionally strong."
In 2018, the company achieved $ 498.7 million (£ 393.1 million) in net sales and $ 36 million (£ 28 million) in net income. Revolve Group had 9.4 million unique visitors per month in 2018.
Stitch Fix Diversify Your Marketing Portfolio
Stitch Fix, The online personal design service, announced during third quarter earnings calls earlier this week, The company spent $ 16 million (£ 12.6 million) on brand marketing in the fourth quarter. CEO and founder Katrina Lake said the company was looking to spend more on it in the second half of the year as the company looked to diversify from "marketing the performance of bread and butter."
The design service recorded revenues of $ 408.9 million (£ 322.3 million) and net income of $ 7 million (£ 5.5 million). Leake said the company had conducted personal and outdoor experiments in addition to television, although it acknowledged it was too early to know what specific channels would see the investment.
Lek said the company was not looking to measure the success of these brand marketing campaigns by the number of new customers adding them, but about metrics such as how these ads increase "brand understanding, brand awareness, and brand convergence."
Moniz adds pots
fintech consumer Monese It has been declared Adding utensils pots, In £, to a range of money management features.
Monese Pots do not offer a benefit, but a place where you can keep your savings safely separate from your daily spending. The idea is already prevalent in Moniz, Monzo.
Money withdrawn from Monese Pot goes directly to the Monese account from which it was created. Customers will also be able to see all transactions between their main accounts and accounts, allowing them full control over their finances and spending.
Monese recently announced that one million people have joined Monese, with the number of customers tripling in 2018, and more than 3,000 people now joining Monese every day. Demand for Monese across continental Europe exceeded demand in the UK in November 2018, and in March 2019, it was two-thirds of all subscribers in Monese in continental Europe. This important event shows great momentum, after successful B-type funds were raised by US $ 60 million (£ 47 million) in September 2018.