Fashion and beauty start-up valuations appear to have stabilised after plunging last year, though it may be months or even years before many return to their old highs — if they ever do. But there are ways for emerging and established players to ride out the downturn.
Instead of emulating the face-paced growth favoured by their predecessors, Gen-Z-centric fashion and beauty start-ups are taking a steadier approach to brand-building.
A growing number of direct-to-consumer brands have found a winning retail formula by putting a modern spin on routine services such as piercings and eye exams.
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The eyewear maker’s results were consistent with its recent outings. Sales rose 12 percent year-over-year in the first quarter of the year on the strength of its growing store fleet. It also decreased its losses by $23 million and increased its adjusted earnings before interest and taxes by $17 million.
The eyewear maker on Tuesday reported a 10 percent increase in revenue to $147 million in the final quarter of 2022, coming in above company and analysts’ estimates.
The luggage company, valued at $1.45 billion when it raised capital in 2019, is exploring strategic options including a sale, according to people with knowledge of the matter.