REVOLVE GROUP AND MUUS COLLECTIVE FORM STRATEGIC PARTNERSHIP WITH A VISION TO REVOLUTIONIZE FASHION IN GAMING AND WEB3

Rhea-AI Summary

Revolve Group (RVLV) has partnered with Muus Collective, supported by Griffin Gaming Partners, to develop a fashion-centric Web3 mobile gaming experience set to launch in 2023. This strategic collaboration aims to transform consumer engagement in fashion through interactive gaming, showcasing REVOLVE's fashion items. With a notable $5 million seed funding from Griffin Gaming Partners, this partnership reflects REVOLVE's commitment to leveraging innovative digital channels, having recently achieved over $1 billion in annual revenue. The initiative aims to attract a diverse audience and elevate the online shopping experience.

Positive

• Strategic partnership with Muus Collective to create a Web3 mobile gaming experience.
• Launch of the gaming initiative expected in 2023.
• $5 million seed funding from Griffin Gaming Partners to support the project.
• REVOLVE recently crossed $1 billion in annual revenue, showcasing financial growth.

Negative

• None.

LOS ANGELES, Nov. 2, 2022 /PRNewswire/ -- Revolve Group, Inc. (NYSE: RVLV, "REVOLVE") announced today the signing of a strategic partnership with Griffin Gaming Partners-backed entertainment studio, Muus Collective, Inc. ("Muus"), to create a fashion-centered Web3 mobile gaming experience that aims to revolutionize how consumers engage with fashion. Expected to launch in 2023, the experience will feature digital playable renderings of select fashion and beauty items from REVOLVE and FWRD.

REVOLVE was founded in 2003 with a vision of leveraging digital channels and technology to transform the shopping experience. The company's data-driven merchandising strategy and pioneering influencer marketing playbook have been key contributors to a track record of profitable growth that led REVOLVE to recently cross the billion dollars in annualized revenue milestone. REVOLVE is once again demonstrating its disruptive approach to brand building with a foray into the gaming and Web3 space as it partners with Muus.

"REVOLVE has always been at the forefront of transformative eCommerce," noted Michael Mente, Co-Founder and Co-CEO of REVOLVE. "Today, digital fashion is on the rise, and mobile gaming is the fastest-growing form of media on the planet. In 2021, 49% of mobile gamers worldwide were women and there were a staggering 83 billion mobile game downloads worldwide, according to data.ai. Especially considering the emerging excitement for virtual fashion, we are thrilled to partner with Muus to create an elevated, gamified eCommerce experience that spotlights our latest collections and puts the consumer front and center."

"REVOLVE is a trailblazer in the fashion industry with an incredibly loyal community," said Amber Bezahler, Co-Founder and CEO of Muus. "Through our partnership, players will connect with their favorite brands from REVOLVE and FWRD, and engage with trends through a gamified shopping and styling experience, collectible assets, and deep social interaction. The platform will serve as a fashion playground, empowering players to become their own tastemakers by providing tools for creative expression, peer-to-peer engagement and social sharing."

Raissa Gerona, REVOLVE's Chief Brand Officer shared that, "We are always working to deliver the next-level of aspirational storytelling and formats of engagement for our extensive global community of influencers and brands. Our partnership with Muus is our first step into Web3 gaming and we are excited to expand to new audiences by integrating REVOLVE's network with Muus' team of experts on fashion-centric entertainment experiences. Our immersive and experiential marketing practices have always been designed with the customer in mind, to celebrate the best of life in all ways, and to be where she is - which is increasingly Web3."

Griffin Gaming Partners ("GGP"), one of the largest venture capital firms singularly focused on investing in the global gaming and Web3 markets, recently announced $5 million in seed round funding for Muus. Together, GGP and Muus aim to advance diversity in gaming, Web3 and fashion. Emily Wang, Managing Director at LionTree, and Boyoung Kim, Senior Associate at GGP, sit on Muus' Board of Directors. "Griffin has been a long-time admirer of the premium brand and platform that REVOLVE has built," Wang said. "It's a dream partnership to bring together Muus' gaming and Web3 expertise and REVOLVE's unmatched fashion merchandising and community-building innovation to create a truly groundbreaking experience at the intersection of fashion, gaming and Web3."

Muus' women-led founding team members are gaming and fashion/beauty industry veterans who worked at and with gaming brands, including Electronic Arts, Nintendo, Activision, PlayStation, Xbox, Zynga, and more, and fashion brands, including Bottega Veneta, Agent Provocateur, Calvin Klein, Monique Lhuillier, and others.

Media Contact for REVOLVE Group, Inc.
E-mail: Jennifer@walkerdrawas.com

Media Contact for Muus Collective, Inc.
Email: chelsea@influenceandco.com
Phone: 573-999-0794 x4

Media Contact for Griffin Gaming Partners
Email: ewang@liontree.com

About Muus Collective™

Muus Collective™ is an entertainment studio creating community-driven, fashion-centric experiences that span mobile games and digital collectibles. Anticipating a launch in 2023, Muus Collective is developing its inaugural Web3-enabled mobile game that empowers players to find inspiration, create and earn. Muus Collective is currently hiring for development engineers, designers, and community leads. For more information, visit https://www.muuscollective.com.

About Griffin Gaming Partners

Griffin Gaming Partners is a leading venture capital firm, focused on the global gaming and Web3 markets, with over $1 billion in assets under management. The firm was founded by Peter Levin, Phil Sanderson, and Nick Tuosto, with LionTree as a strategic partner to certain of the investment funds managed by GGP. GGP invests in seed through growth stages at the intersection of content, infrastructure, social platforms, and game-related Web3 companies.

About REVOLVE Group, Inc.

Revolve Group, Inc. (RVLV) is the next-generation fashion retailer for Millennial and Gen-Z consumers. As a trusted premium lifestyle brand and a go-to online source for discovery and inspiration, REVOLVE delivers an engaging customer experience from a vast, yet curated, offering of apparel, footwear, accessories, and beauty styles. Founded in 2003 by co-CEOs, Michael Mente and Mike Karanikolas, REVOLVE connects a deeply engaged community of millions of consumers, thousands of global fashion influencers, and more than 1,000 emerging, established and owned brands through two complementary eCommerce experiences — REVOLVE and FWRD. For more information, visit www.revolve.com.

Forward-Looking Statements

This press release contains ''forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements about the expected launch timing of Muus' mobile gaming experience, the rise of digital fashion and the future of Web3. Forward-looking statements include statements containing words such as "will," "expect," "anticipate," "believe," and similar expressions intended to identify forward-looking statements. These forward-looking statements are based upon our current expectations. Forward-looking statements involve risks and uncertainties, and actual results or outcomes and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the continued impact of the COVID-19 pandemic; demand for our products; general economic conditions; our ability to react to customers in a cost effective manner; the strength of our brand; competition; system interruptions; our ability to fulfill orders; and other risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings with the Securities and Exchange Commission, including, without limitation, our Quarterly Report on Form 10-Q, including for the quarter ended September 30, 2022, which we expect to file with the SEC on November 2, 2022. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

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SOURCE Revolve Group, Inc.

FAQ

What is the partnership between Revolve Group and Muus Collective about?

Revolve Group is partnering with Muus Collective to develop a fashion-centered Web3 mobile gaming experience, set to launch in 2023.

When is the expected launch date for the Revolve and Muus mobile gaming experience?

The expected launch date for the mobile gaming experience is in 2023.

What funding did Muus Collective receive to support the partnership with Revolve?

Muus Collective received $5 million in seed funding from Griffin Gaming Partners to support its partnership with Revolve.

How much annual revenue has Revolve recently achieved?

Revolve has recently crossed the $1 billion milestone in annual revenue.

What impact does the partnership with Muus Collective have on Revolve's market strategy?

The partnership aims to enhance consumer engagement through innovative digital platforms, integrating fashion with gaming.