--- title: "Online fashion benchmarks from annual reports" description: "What 4 US-listed companies selling fashion sold mostly or only online report: a median gross margin of 48.6%, from 43.2% to 57.3%. Read 13 October 2026." url: https://offersuite.io/benchmarks/online-fashion updated: 2026-10-13 --- # Online fashion benchmarks from annual reports What 4 US-listed companies selling fashion sold mostly or only online report: a median gross margin of 48.6%, from 43.2% to 57.3%. Read 13 October 2026. Gross margin, online fashion: gross profit over revenue in each company's latest annual report. 1. a.k.a. Brands 57.3% 2. Revolve Group 53.5% 3. Stitch Fix 43.7% 4. Lulu's Fashion Lounge 43.2% Median 48.6%, marked on each bar. What each annual report states. A dash: the report gives no such figure. | Company | [Gross margin](https://offersuite.io/benchmarks/gross-margin) | [Average order value](https://offersuite.io/benchmarks/average-order-value) | [Return rate](https://offersuite.io/benchmarks/return-rate) | [Subscription share of sales](https://offersuite.io/benchmarks/subscription-share) | [Fulfilment cost as a share of sales](https://offersuite.io/benchmarks/fulfilment-cost) | | --- | --- | --- | --- | --- | --- | | Revolve Group RVLV [Form 10-K for the year ended 31 December 2025, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1746618/000119312526071307/rvlv-20251231.htm) | 53.5% Revenue $1.23 billion, gross profit $655.8 million | $299 | Not stated | Not stated | 3.2% | | Lulu's Fashion Lounge LVLU [Form 10-K for the year ended 28 December 2025, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1780201/000110465926036884/lvlu-20251228x10k.htm) | 43.2% Revenue $282.3 million, gross profit $122.1 million | $140 | Not stated | Not stated | Not stated | | a.k.a. Brands AKA [Form 10-K for the year ended 31 December 2025, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1865107/000186510726000008/aka-20251231.htm) | 57.3% Revenue $600.2 million, gross profit $344.1 million | $77 | 18.3% | Not stated | 11.4% | | Stitch Fix SFIX [Form 10-K for the year ended 1 August 2026, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1576942/000162828026063365/sfix-20260801.htm) | 43.7% Revenue $1.35 billion, gross profit $588.5 million | Not stated | Not stated | Not stated | Not stated | ## What the filings state Beyond the income statement, these are the figures the reports give, in their own words. - **Revolve Group: average order value $299** Our average order value was $299 in 2025 [Form 10-K for the year ended 31 December 2025, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1746618/000119312526071307/rvlv-20251231.htm) - **Lulu's Fashion Lounge: average order value $140** Average Order Value $140 $137 $133 [Form 10-K for the year ended 28 December 2025, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1780201/000110465926036884/lvlu-20251228x10k.htm) - **a.k.a. Brands: average order value $77** a decrease in our average order value of 3%, from $79 in 2024 to $77 in 2025 [Form 10-K for the year ended 31 December 2025, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1865107/000186510726000008/aka-20251231.htm) - **a.k.a. Brands: return rate 18.3%** our sales return rates across our brands, which was well below industry average in 2025 at approximately 18.3% [Form 10-K for the year ended 31 December 2025, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1865107/000186510726000008/aka-20251231.htm) - **Revolve Group: fulfilment cost as a share of sales 3.2% (fulfillment expenses)** Fulfillment expenses $39,509 $37,389 $2,120 5.7% Percentage of net sales 3.2% 3.3% [Form 10-K for the year ended 31 December 2025, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1746618/000119312526071307/rvlv-20251231.htm) - **a.k.a. Brands: fulfilment cost as a share of sales 11.4% (shipping and handling, with returned freight)** The amount of shipping and handling costs included in selling expenses, inclusive of outbound shipping and returned freight costs, was $68.5 million [Form 10-K for the year ended 31 December 2025, read 13 October 2026 (opens in a new tab)](https://www.sec.gov/Archives/edgar/data/1865107/000186510726000008/aka-20251231.htm) ## Use these figures Open a calculator with this vertical’s figures already entered, then replace them with your own. - [Free shipping threshold calculator, at this vertical's median gross margin](https://offersuite.io/calculators/free-shipping-threshold?productMargin=48.6) 48.6% as the margin on product revenue. Gross margin is before picking and card fees, so lower it by yours. - [Gift with purchase calculator, on online fashion brands' figures](https://offersuite.io/calculators/gift-with-purchase-profit?price=77.00&unitCost=32.88&giftCost=6.41&refundRate=18.3) $77.00 average order, unit cost $32.88, a tote bag at $6.41, 18.3% refund reserve. Offers priced on these costs, with their sources and the offer document for each: - [Gift with purchase for online fashion brands](https://offersuite.io/playbooks/gift-with-purchase-for-online-fashion-brands) - [Free shipping for online fashion brands](https://offersuite.io/playbooks/free-shipping-threshold-for-online-fashion-brands) - [Quantity discounts for online fashion brands](https://offersuite.io/playbooks/quantity-discounts-for-online-fashion-brands) - [Buy 2, get 1 free for online fashion brands](https://offersuite.io/playbooks/buy-2-get-1-free-for-online-fashion-brands) - [Tiered gifts with purchase for online fashion brands](https://offersuite.io/playbooks/tiered-gifts-for-online-fashion-brands) - [Buy two, get another product free for online fashion brands](https://offersuite.io/playbooks/buy-x-get-y-across-products-for-online-fashion-brands) ## How to read them Gross profit divided by revenue, both from the income statement of the annual report. Companies differ in what they put in cost of sales: some include store occupancy, warehousing or shipping to the customer, others report those below gross profit. Read a company's margin next to its own accounting policy before comparing two. The median of these 4 companies is 48.6%, between Lulu's Fashion Lounge at 43.2% and a.k.a. Brands at 57.3%. They are whole companies, most with stores or wholesale beside their own site, so treat the figures as reference points for your own costs. ## Embed this chart Paste this where you want the chart. It carries its sources and a link back to this page. **Show the embed code** ``` ``` ## Related - [Benchmarks **DTC benchmarks from public filings** Gross margin, order value, returns, subscription share and fulfilment cost at 60 US-listed consumer companies, each figure linked to its annual report.](https://offersuite.io/benchmarks) - [Calculator **Free shipping threshold calculator** Price a free-shipping threshold with the shipping you give away on orders that already reach it, and the share of smaller orders that must top up to pay for it.](https://offersuite.io/calculators/free-shipping-threshold) - [Calculator **Gift with purchase profit calculator** What a free gift costs per order, after its unit cost, its extra pick and its handling, and how much conversion it has to add to pay for itself.](https://offersuite.io/calculators/gift-with-purchase-profit) - [Playbook **Gift with purchase for online fashion brands** What a free gift costs online fashion brands per order on sourced costs, and how much conversion it has to add to pay for itself.](https://offersuite.io/playbooks/gift-with-purchase-for-online-fashion-brands) - [Playbook **Free shipping for online fashion brands** Free shipping for online fashion brands on USPS's published label prices: what it gives away on orders that already qualify, and what a top-up earns.](https://offersuite.io/playbooks/free-shipping-threshold-for-online-fashion-brands) - [Benchmark **Gross margin of consumer brands, from annual reports** The gross margin 60 US-listed consumer companies report: a median of 48.4%, from 28.1% (PetMed Express) to 79.4% (ThredUp). Each links to its filing.](https://offersuite.io/benchmarks/gross-margin)