Reformation's Record-Breaking Quarter: 24% Net Revenue Growth and a Strong Outlook for 2026
Reformation, the pioneering sustainable fashion brand, has just released its second-quarter 2026 results, showcasing a remarkable 24% year-over-year net revenue growth. This achievement marks the company's 21st consecutive quarter of double-digit revenue growth, solidifying its position as a leader in the modern retail space.
According to Hali Borenstein, Chief Executive Officer, Reformation's strong financial profile is underpinned by consistently high full-price selling, averaging approximately 80% over the last several years. The company's disciplined execution drives healthy gross margins and double-digit EBITDA margins, making it a standout in the industry.
Reformation's success can be attributed to its three core competitive advantages: a powerful brand, an agile merchandising model, and a tech-forward DTC (direct-to-consumer) selling strategy. The company's engaging and distinctive brand identity cuts through and retains relevance over time, making it appealing to customers across various demographics.
Reformation's customer base is diverse, with the majority aged 25-50. However, in 2025, 20% of new customers were under the age of 25, and 20% were over the age of 50. The brand's multigenerational appeal is evident, as three-fourths of customers who come to Ref to shop for their daughters end up shopping for themselves as well.
The company's geographic reach is also impressive, with 70% of active customers located outside of New York and Southern California, and about 20% coming from international markets. This demonstrates Reformation's ability to transcend geographical boundaries and appeal to a global audience.
Reformation's proprietary merchandising model has been key to its success. The company's product has always been at the core of what they do, with a thoughtful approach to fit that inspires confidence and loyalty in customers. In fact, 84% of customers say that wearing Reformation makes them feel confident, highlighting the positive impact their product has on their customers.
With its strong brand, agile merchandising model, and tech-forward selling strategy, Reformation is well-positioned for continued growth and success. As Hali Borenstein noted, "We're incredibly excited to begin this next chapter together" as a public company. With a durable foundation for growth and a clear vision for the future, Reformation is poised to continue delivering on its mission to bring sustainable fashion to everyone."
