Billion-dollar Bragging Rights, Fashion’s New Benchmark

The new bragging rights in retail and fashion don’t come cheap — try $1 billion. Companies are throwing around the 10-digit number all the time now, pointing to new breakthroughs in income, revenues, money raised and more. Earlier this month, footwear and apparel company Nike coolly noted that it made more than $1 billion in profits during the most-recent quarter. Ath-leisure rival Lululemon, while smaller, also passed its own $1 billion mark, logging more than $1 billion revenues for a quarter — a year ahead of its schedule. And then there was American Eagle Outfitters, which passed the $1 billion sales mark during a single quarter last December.  They join the so-called “unicorns,” the private companies that have grabbed headlines all over by scoring 10-digit valuations. During the first three months of 2019, four private consumer companies — Glossier, FabFitFun, Rent the Runway and Casper — raised money at such sky-high levels.  Meanwhile, beauty giant Revlon recently lost its billion-dollar brand status, pulling in just $998.3 million in net sales for all of 2018, down from $1.09 billion in 2017. It all raises the question: Just how many billions does a company need to be taken seriously? “In some sense, a billion dollars is

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