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Segment Information
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment Information

Note 9. Segment Information

We have two reportable segments, REVOLVE and FWRD, each offering apparel, shoes, accessories, and beauty products available for sale to customers through their respective websites and mobile applications. Our reportable segments have been identified based on how our chief operating decision makers manage our business, make operating decisions and evaluate operating performance. Our chief operating decision makers are our co-chief executive officers. We evaluate the performance of our reportable segments based on net sales and gross profit. Management does not evaluate the performance of our reportable segments using asset measures. During the three and six months ended June 30, 2023 and 2022, no customer represented over 10% of net sales.

The following tables summarize our net sales and gross profit for each of our reportable segments (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

Net sales

 

2023

 

 

2022

 

 

2023

 

 

2022

 

REVOLVE

 

$

235,149

 

 

$

244,729

 

 

$

466,802

 

 

$

482,469

 

FWRD

 

 

38,580

 

 

 

45,325

 

 

 

86,536

 

 

 

91,083

 

Total

 

$

273,729

 

 

$

290,054

 

 

$

553,338

 

 

$

573,552

 

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

REVOLVE

 

$

131,235

 

 

$

140,825

 

 

$

251,471

 

 

$

274,518

 

FWRD

 

 

16,463

 

 

 

21,417

 

 

 

35,447

 

 

 

42,135

 

Total

 

$

147,698

 

 

$

162,242

 

 

$

286,918

 

 

$

316,653

 

 

The following table presents net sales by geographic area (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

United States

 

$

222,860

 

 

$

240,909

 

 

$

449,576

 

 

$

478,784

 

Rest of the world (1)

 

 

50,869

 

 

 

49,145

 

 

 

103,762

 

 

 

94,768

 

Total

 

$

273,729

 

 

$

290,054

 

 

$

553,338

 

 

$

573,552

 

 

(1) No individual country exceeded 10% of total net sales for any period presented.

 

The following tables summarize net sales (in thousands) and percentage of net sales by product category for the three and six months ended June 30, 2023 and 2022:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Net Sales

 

 

 

 

 

 

 

 

 

 

 

 

Fashion Apparel

 

$

115,945

 

 

$

126,969

 

 

$

242,181

 

 

$

266,748

 

Dresses

 

 

87,987

 

 

 

94,555

 

 

 

168,000

 

 

 

178,634

 

Handbags, Shoes and Accessories

 

 

58,917

 

 

 

58,207

 

 

 

121,403

 

 

 

107,835

 

Beauty

 

 

8,861

 

 

 

8,172

 

 

 

18,151

 

 

 

16,607

 

Other (1)

 

 

2,019

 

 

 

2,151

 

 

 

3,603

 

 

 

3,728

 

Total net sales

 

$

273,729

 

 

$

290,054

 

 

$

553,338

 

 

$

573,552

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As a percentage of net sales

 

 

 

 

 

 

 

 

 

 

 

 

Fashion Apparel

 

 

42

%

 

 

44

%

 

 

44

%

 

 

47

%

Dresses

 

 

32

%

 

 

32

%

 

 

30

%

 

 

31

%

Handbags, Shoes and Accessories

 

 

22

%

 

 

20

%

 

 

22

%

 

 

18

%

Beauty

 

 

3

%

 

 

3

%

 

 

3

%

 

 

3

%

Other (1)

 

 

1

%

 

 

1

%

 

 

1

%

 

 

1

%

Total net sales

 

 

100

%

 

 

100

%

 

 

100

%

 

 

100

%

 

(1)
Includes deferred revenue, shipping revenue and other revenue.