ESW x Reformation
International growth, executed market by market with ESW.
ESW x Reformation
Significantly underpenetrated internationally, with meaningful runway ahead. Here's what running that looks like, city by city.
That’s the picture your S-1 lays out: 245,000 active non-U.S. customers, and a city-by-city expansion strategy bespoke to each market, with e-commerce localization named as one of its four pillars. ESW is the operating model that runs that playbook — global commerce infrastructure with a native Salesforce Commerce Cloud integration, and a dedicated growth team, working as one engagement, market by market.
The 3 point summary for Reformation
For International Growth
Your UK playbook worked, with more than five times net revenue growth from 2019 to 2025. ESW runs that playbook as an ongoing program: localization, payments, delivery options and per-market testing, with a named growth team accountable for it.
For Finance
Under the B2B2C model, your goods sell to ESW's local entity at wholesale, and that sale becomes the import event, so duty is assessed on wholesale value rather than retail. Drawback Assistance then recovers duty and VAT on returned and re-exported goods
For Operations
With more than 50 return centers globally, international returns are processed in market rather than travelling back to the origin warehouse, lowering shipping costs and faster refunds for your customers.
Duty exposure moves with policy, in both directions.
Every consumer order still crosses the border at retail value with full liability, and the exposure moves with volatile policy changes.
2025 gross margin
60.2%
Reduced by 360 basis points from IEEPA tariffs in 2025.
2026 Q1 gross margin
70.3%
Lifted by roughly 900 basis points from the refund of those same tariffs.
Unlike other options on the market, ESW assigns every client a dedicated Strategic Growth team. Not as an upgrade but as a standard partnership approach.
More than a platform.
What that looks like in practice
- Quarterly mystery shopping: one to two shops across two international markets, mapping the full customer journey
- Quarterly competitor analysis: three to four competitors reviewed each quarter, alternating sets so intelligence accumulates rather than resets
- A/B and patch testing on cart and checkout pages, with a quarterly test roadmap review you control
- Monthly systematic review that turns every friction point across your top markets into a revenue opportunity
- One consistent view of performance across conversion, payments, fulfillment, returns and operations, rather than data fragmented by currency, channel and fulfillment model
“With ESW’s support, we’ve streamlined our import processes and enhanced our online shopping experience, making ESW a key part of our success in reaching more customers around the world.”
Driving online growth
+12%
GMV via Ship‑from‑Store
Improving purchase performance
+8pts
Conversion rate uplift
Scaling global reach
+20k
Shoppers across 76 countries
ESW x Reformation
The costs that grow that Reformation can avoid and mitigate:
Every cross-border return leaves duty on the table
When an international order comes back, the duty paid to get it across the border does not come back with it. The customer is made whole. The brand absorbs the difference. It is a quiet cost that scales directly with international volume and return rate — and in a fit-driven category, it scales fast.
Duty exposure that moves with policy, in both directions
2025 gross margin came in at 60.2%, reduced by 360 basis points from IEEPA tariffs. In the first quarter of 2026 gross margin was 70.3%, lifted by roughly 900 basis points from the refund of those same tariffs. Two quarters, two directions, one underlying condition: every consumer order still crosses the border at retail value, with full liability, and the exposure moves with whatever policy does next.
ESW x Reformation
What changes, market by market with ESW.
- With more than 50 return centers globally, international returns are processed in market rather than travelling back to the origin warehouse, lowering shipping costs and enabling faster refunds for your customers.
- Ship-from-store and ship-to-store mean a new location in a new market is not just a store, it becomes fulfillment capacity and a collection point for online orders, alongside the returns destination described above.
- Under the B2B2C model, your goods sell to ESW’s local entity at wholesale. That sale becomes the import event, and the consumer transaction that follows is domestic, with ESW as Merchant of Record. Duty is calculated on the wholesale value rather than the retail price.
- ESW supports multi-origin shipping. As the international store footprint grows, new origins can be added to the model rather than routed around it.
- Translation at scale with human oversight, local payment methods and currencies, market-specific delivery options, and continuous A/B testing on cart and checkout pages against a quarterly roadmap you control.
