It all sounds expensive, but according to the IPO filing, 75% of Revolve’s marketing budget actually goes to other forms of marketing, such as retargeting, paid ads, emails, and other strategies to turn browsers into active shoppers and encourage repeat purchases.

What it does spend on influencers appears to be paying off. The company told Glossy (paywall) a few weeks ago that influencers now drive almost 70% of its sales. ”We saw influencers as a direct pipeline to our customer,” said Raissa Gerona, Revolve’s chief brand officer. “We focus on millennial female consumers, and none of them are looking at magazines anymore, so we looked to who that customer was listening to.”

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