Stock Markets

REVOLVE GROUP ANNOUNCES EXCLUSIVE HOLIDAY SHOP AT THE GROVE IN LOS ANGELES

Published

3 weeks ago

October 31, 2024

Introducing the REVOLVE Holiday Shop: The Ultimate Destination for Curated Fashion and Gifts

LOS ANGELES, Oct. 30, 2024 /PRNewswire/ — Revolve Group (NYSE:), the next-generation fashion retailer for Millennial and Generation Z consumers, announces the opening of its exclusive, REVOLVE Holiday Shop at The Grove in Los Angeles, running from November 14th through January 4th.

REVOLVE‘s limited-time holiday shop will invite customers into a cozy, winter-themed space, highlighting a focused selection of holiday apparel, accessories, and gifts for the ultimate seasonal shopping experience. FWRD will have an exclusive Shop-in-Shop featuring a refined collection of luxury designer brands and rare vintage pieces from FWRD Renew, offering a seamless blend of contemporary style and high-end fashion.

To keep customers engaged throughout the season, the REVOLVE Holiday Shop will feature rotating activations and shop-in-shops from in-house brands including HELSA and L’Academie and exclusive brand partners including Alexander Wang, creating a dynamic and evolving retail experience. The shop will also incorporate experiential elements, such as meet-and-greets with talent, curated edits, and workshops, further enhancing consumer engagement and brand loyalty.

Happy Returns will have a dedicated returns bar that will offer customers a seamless in-person return experience. Customers will have the ability to return orders from REVOLVE, FWRD, and other select Happy Returns brand partners.

REVOLVE is recognized for its impactful in-person experiences that help the brand build strong connections with its audience beyond online shopping. By choosing The Grove, a renowned LA landmark and the go-to holiday destination in the city, REVOLVE will deliver its immersive brand experience in a location that attracts a broad mix of shoppers, from locals to tourists. This holiday shop will showcase REVOLVE and FWRD‘s product assortment across apparel, beauty, and home, creating memorable in-person experiences while reinforcing REVOLVE‘s presence in this key market. It’s an opportunity to merge the energy of REVOLVE‘s signature events with the festive holiday spirit, ultimately driving both brand loyalty and sales. Located in the heart of The Grove, the REVOLVE Holiday Shop is poised to be this season’s must-visit spot.

“We are excited to open the REVOLVE Holiday Shop at The Grove, marking a significant step forward in expanding the physical presence of both REVOLVE and FWRD. After proven success with pop-ups and our recent venture into brick-and-mortar, we wanted to introduce a new customer touchpoint during the holiday season and what better way to do that than in our hometown and at The Grove – the most highly trafficked destination for holiday shopping in Los Angeles. The Holiday Shop embodies our commitment to delivering immersive experiences that resonate with our customers, and by enhancing our physical footprint, we aim to deepen connections with our community and showcase the innovative spirit that defines our brands.” – Michael Mente, Co-Founder and Co-CEO, Revolve Group Inc

Featured brands include:

REVOLVE
Helsa
L’Academie
Majorelle
Grlfrnd
Guizio
Lioness
Ser.o.ya
Cult Gaia (NASDAQ:)

FWRD:
Christopher Esber
Eterne
Magda Butrum
The Attico
Wardrobe NYC
FWRD Renew

Location: The Grove, 189 The Grove Drive, Los Angeles, CA
Dates: November 14, 2024 “ January 4, 2025

Hours:
Monday “ Thursday: 10am-9pm
Friday “ Saturday: 10am-10pm
Sunday: 11am-8pm

Special Hours:
November 28 – Thanksgiving: Closed
November 29 – Black Friday: 9AM to 10PM
December 9-23: 10AM to 10PM
December 24: 10AM to 6PM
December 25 – Christmas: Closed
December 31: 10AM to 6PM

For more information, please visit www.revolve.com.

Media Contacts:
REVOLVE@walkerdrawas.com

About Revolve Group, Inc.
Revolve Group, Inc. (RVLV) is the next-generation fashion retailer for Millennial and Generation Z consumers. As a trusted premium lifestyle brand and a go-to online source for discovery and inspiration, we deliver an engaging customer experience from a vast, yet curated, offering of apparel, footwear, accessories, and beauty styles. Our dynamic platform connects a deeply engaged community of millions of consumers, thousands of global fashion influencers, and more than 1,000 emerging, established, and owned brands.

We were founded in 2003 by our co-CEOs, Michael Mente and Mike Karanikolas. We sell merchandise through two complementary segments, REVOLVE and FWRD, that leverage one platform. Through REVOLVE, we offer an assortment of premium apparel, footwear, accessories, and beauty products from emerging, established and owned brands. Through FWRD, we offer a highly curated assortment of iconic and emerging luxury brands. For more information, visit www.revolve.com.

About The Grove
Developed by Caruso in 2002, The Grove is one of the country’s most acclaimed shopping, dining and lifestyle destinations, offering the best mix of retail, restaurants and entertainment in Southern California. Set on 20 acres adjacent to the historic Original Farmers Market in Los Angeles, The Grove offers a welcoming park-like setting with a vibrant pedestrian streetscape and first-class retail experience that successfully marries hometown charm with high-end shopping. This unique mix has earned The Grove recognition as the heart of the city “ a “see and be seen” destination, a neighborhood gem and a community all its own. The Grove’s award-winning design, first-class Concierge service and community-like ambiance have garnered numerous awards and recognition throughout the retail industry, including being named the “#1 Shopping Destination in Los Angeles” by TripAdvisor (NASDAQ:), and ranking #2 of Fortune’s “10 Highest Sales-Generating Shopping Centers” in the country. The Grove also tops Shopping Center Today’s list of top 10 shopping centers in the world based on sales per square foot. For more information, please visit The Grove at https://thegrovela.com or on Instagram @TheGroveLA

Stock Markets

Needham initiates coverage on On Holding with buy rating

Published

1 hour ago

November 23, 2024

Investing.com — Needham on Friday initiated its coverage on On Holding AG (NYSE:) with a “buy” rating and a target price of $64.

Brokerage said On has shown industry-leading growth, with impressive revenue increases and healthy margin expansion. The company is likely to keep growing as it increases brand awareness and gains space with top sneaker retailers worldwide.

“We believe the company has a continued runway for strong growth, as they increase brand awareness and gain shelf space with the biggest and best sneaker retailers in the world,” analyst Tom Nikic wrote in the note.

Needham analyst noted that Roger Federer-backed On was valued at 5 times its expected 2025 revenues, which make stock may seem expensive but strong fundamentals could support continued stock momentum.

“Although valuation metrics are lofty, we believe the shares can continue to exhibit momentum as long as fundamentals”

ON is the fastest growing company in Needham’s coverage, with expected 32% revenue growth in 2024. Its Direct-to-Consumer (DTC) growing 43% year-to-date, compared to 24% growth for wholesale sales.

Brokerage highlighted despite this growth, the brand’s awareness is still relatively low. In major markets like the U.S., U.K., France, and Australia, awareness was under 10% a year ago. However, it’s increasing rapidly, with U.S. awareness doubling to around 20%, and tripling in France.

Stock Markets

Toll Brothers Announces Final Opportunity at Verona Estates Community in Chatsworth, California

Published

1 hour ago

November 23, 2024

CHATSWORTH, Calif., Nov. 22, 2024 (GLOBE NEWSWIRE) — Toll Brothers , Inc. (NYSE:), the nation’s leading builder of luxury homes, today announced the final opportunity to own a new home at Verona Estates, an exclusive gated community in Chatsworth, California. Only a few homes remain available for sale in this prestigious community, including the professionally decorated Siena Modern Farmhouse model home.

The intimate gated enclave of Verona Estates is a rare find showcasing award-winning architecture and innovative home designs. Nestled in an established Chatsworth neighborhood south of the Santa Susana Mountains and adjacent to the Vineyards at Porter Ranch, this exceptional community offers a serene and relaxed atmosphere with the convenience of nearby shopping and easy access to freeways, entertainment, and recreation.

Toll Brothers residents in Verona Estates will enjoy distinctive architecture, quality craftsmanship, luxurious home designs with open floor plans, expansive home sites, and proximity to the future 50-acre Porter Ranch community park. Verona Estates offers generous two-story home designs ranging from 4,700 to 6,000+ square feet, with 5 to 6 bedrooms, 4.5 to 6.5 bathrooms, and 3-car garages. The homes also feature popular floor plan options including prep kitchens, guest suites, floating staircases, indoor and outdoor fireplaces, and more. Move-in ready homes in the community are priced from $1,979,995.

We are thrilled to offer the final opportunity to own a home in the exclusive Verona Estates community, said Nick Norvilas, Division President of Toll Brothers in Los Angeles. The Siena model home is a showcase of luxury and design, and we encourage interested home buyers to visit and experience this exceptional home along with the final few quick move-in homes remaining in the community firsthand.

The Siena Modern Farmhouse model home features designer upgrades throughout, including fully landscaped and furnished interiors, offering an unparalleled living experience. The professionally decorated model home is priced at $2,999,995.

For more information, call 844-700-8655 or visit TollBrothers.com/LA. The Sales Center for Verona Estates is located at 20508 Edgewood Court in Chatsworth and is open by appointment only.

About Toll Brothers

Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol TOL. The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.

In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired Companies™ list and the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.

Contact: Andrea Meck | Toll Brothers, Director, Public Relations & Social Media | 215-938-8169 | ameck@tollbrothers.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbb8cf4a-a018-4df0-955e-3cf4ab63edeb

Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)

Verona Estates by Toll Brothers

Toll Brothers announced the final opportunity to own a new home at Verona Estates, including the designer-decorated Siena model home, in Chatsworth, California.

Source: Toll Brothers, Inc.

Stock Markets

Northvolt crisis may be make or break for Europe’s EV battery ambitions

Published

1 hour ago

November 23, 2024

By Marie Mannes, Alessandro Parodi and Stine Jacobsen

STOCKHOLM/GDANSK (Reuters) – Northvolt’s financial collapse deals a blow to Europe’s plan to set up its own battery industry to power electric cars, stirring a debate about whether it needs to do more to attract investment as startups struggle to catch up with Chinese rivals.

Europe’s biggest hope for an electric vehicle battery champion filed for U.S. Chapter 11 bankruptcy protection on Thursday after talks with investors and creditors including Volkswagen (ETR:) and Goldman Sachs for funding failed.

The Swedish company, whose motto is “make oil history”, has received more than $10 billion in equity, debt and public financing since its 2016 start-up. Volkswagen and Goldman Sachs each own about one fifth of its shares.

Northvolt said on Friday it needed $1.0-$1.2 billion in new funds under the restructuring process, which it hopes will end by the end of March.

In recent months, it has shrunk the business and cut jobs in a bid to shore up its finances. But it has struggled to produce sufficient volumes of high-quality batteries, and lost a 2 billion euro ($2.1 billion) contract from BMW (ETR:) in June.

That has left Europe’s ambitions to build its own battery industry looking a distant dream.

In recent years, Northvolt led a wave of European startups investing tens of billions of dollars to serve the continent’s automakers as they switch from internal combustion engines to electric vehicles.

But growth in EV demand is moving at a slower pace than many in the industry projected, and China has taken a huge lead in powering EVs, controlling 85% of global battery cell production, International Energy Agency data shows.

Making batteries and cells, the units that store and convert chemical energy into electricity, is a delicate process and doing so at scale is a challenge for any battery maker.

Northvolt has missed some in-house targets and curtailed production at its battery cells plant in northern Sweden, underscoring the difficulties, Reuters reported on Monday.

“The biggest issue is that batteries are not easy to make and Northvolt haven’t satisfied the supply demands of their customers – that is a management issue,” said Andy Palmer, founder of consultancy Palmer Automotive said.

“The Chinese are technologically 10 years ahead of the West in batteries. That’s a fact,” he said.

At least eight companies have postponed or abandoned EV battery projects in Europe this year, including China’s Svolt and joint venture ACC (NS:), led by Stellantis (NYSE:) and Mercedes-Benz (OTC:).

In 2024, Europe’s battery pipeline capacity out to 2030 has fallen by 176 gigawatt-hours, according to data firm Benchmark Minerals. That’s equivalent to almost all the current installed capacity in Europe, according to Reuters calculations.

RETHINK

Some executives say Europe should do more to attract and support home-grown projects so they can compete with Chinese rivals such as CATL and BYD (SZ:).

“Europe needs to rethink how it supports a nascent sector before China eats up the entire value chain, which is due to smart planning,” said James Frith, European head of Volta Energy Technologies, which specialises in battery and energy storage technology.

Among its $5.8 billion in debts, Northvolt owes the European Investment Bank (EIB) some $313 million.

EIB vice president Thomas Östros said it had been a constructive partner to Northvolt, but it needed to safeguard the EIB and EU’s interests.

“It remains the case that Europe has a strategic interest in a European battery industry for electric cars and we will follow developments very closely. But it is much to early to say what the outcome will be,” he said.

The Swedish government has repeatedly said it does not plan to take a stake in Northvolt.

On Friday, Northvolt’s outgoing CEO and co-founder Peter Carlsson said he was a “little worried” Europe is giving up on its dream of competing with China.

He said Europe would regret it in 20 years time if it retreated.

“It’s not a straight journey and right now, we’re all in a bit of a down in that journey where there’s more hesitations, there’s more questions on the speed of the transition from the carmakers, from policymakers, from the investor community,” he told reporters in a call.