Revolve Group, Inc., 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.
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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.
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“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.
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