Direct-to-Consumer Brand Statistics 2026: Sales, Margins and Stores

On’s direct-to-consumer channel reaches a new second-quarter high of 45.7% of net sales in 2026, while at NIKE, Inc., NIKE Direct revenues were $17.7 billion, down 6% on a reported basis for fiscal 2026. Those two figures frame the direct-to-consumer brand statistics below, where selling direct (DTC) still powers the strongest growth stories even as NIKE’s own direct business shrinks.

Hims & Hers revenue of approximately $753 million, up 38% year-over-year in Q2 2026 shows how far a subscription-led DTC model can scale. At the other end, Allbirds agreed to a sale for an estimated transaction value of $39 million. The data below covers revenue, channel growth, gross margins, store counts, and marketing spend at 11 DTC and DTC-led brands, plus online retail share from US and UK statistics agencies.

Key Takeaways

• NIKE’s wholesale revenues were $27.5 billion, up 6% on a reported basis in fiscal 2026, so wholesale grew while the direct channel shrank.
• Warby Parker’s Q2 gross margin included an $11.8 million, or 500 basis points, benefit recorded for tariff refunds, and FIGS reported a 780 basis point positive impact from IEEPA tariff refunds.
• At adidas, currency-neutral net sales in the direct-to-consumer (DTC) channel grew 25% in the second quarter, while wholesale revenues increased 6%.
• Marketing absorbed 34.8% of Hims & Hers second-quarter revenue, the clearest measure of what paid customer acquisition costs a DTC brand.
• E-commerce sales in the second quarter of 2026 accounted for 17.1% of total sales in the US, according to the Census Bureau.
• Warby Parker opened 15 net new stores during the quarter, adding physical retail at a brand that began online.

Editor’s Choice

• On DTC share: 45.7% of net sales, a new second-quarter high.
• Hims & Hers subscribers: nearly 2.9 million, up 19% year-over-year in Q2 2026.
• US e-commerce sales: $340.2 billion for the second quarter of 2026, adjusted for seasonal variation.
• Warby Parker store count: ending Q2 with 352 stores.
• FIGS active customers: 3.1 million as of June 30, 2026.
• Allbirds sale value: an estimated transaction value of $39 million.

Direct-to-Consumer Brand Statistics: Revenue in 2026

These direct-to-consumer brand statistics compile 16 primary sources: company earnings releases, SEC filings, and releases from the US Census Bureau and the UK Office for National Statistics. Sources were published between February 2025 and September 2026. Figures are reviewed on a rolling basis and updated when companies report new quarters.

• Warby Parker’s net revenue increased $21.0 million, or 9.8% year over year in Q2 2026.
• FIGS reported that international net revenues were $37.9 million, an increase of 67.0% year over year.
• FIGS U.S. net revenues were $158.7 million, an increase of 22.2%.
• On’s net sales increased by 13.5% year-over-year, or by 21.6% on a constant currency basis.
• At Lululemon, Americas net revenue decreased 8%, while international net revenue increased 4%.
• Birkenstock’s fiscal third-quarter revenue was up 15% in constant currency.
• NIKE’s full-year revenue was $46.4 billion, flat on a reported basis.

Source: Company earnings releases and SEC filings, June to September 2026

What Are Some Examples of Direct-to-Consumer Brands?

Warby Parker, FIGS, Hims & Hers, On and Allbirds are well-known examples of brands built on selling to customers without a retailer in between. Allbirds described the model plainly in its latest quarterly filing: “The majority of our revenue has historically been from sales directly to consumers via our digital and retail channels.” Multichannel brands such as NIKE and adidas also run large DTC operations alongside wholesale.

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How Fast Are DTC-First Brands Growing?

• FIGS grew primarily due to an increase in orders and higher average order value; its non-scrubwear net revenues were $35.4 million, an increase of 40.3%.
• FIGS scrubwear net revenues were $161.2 million, an increase of 26.5%.
• Hims & Hers first-half revenue grew 20.4%, slower than its second-quarter pace.
• Allbirds went the other way: net revenue decreased by $9.8 million, or 30.5%, for the three months ended March 31, 2026.
• ODDITY Tech reported second-quarter net revenue of $181 million, down approximately 25% year-over-year.

Growth now depends on the category more than on the channel: health subscriptions and medical apparel keep compounding, while footwear and beauty names such as Allbirds and ODDITY have gone into reverse.

Recent Developments

• September 2026: ODDITY Tech reported second-quarter adjusted EBITDA of $13 million as IL MAKIAGE sales remained under pressure.
• September 2026: At Lululemon, comparable sales decreased 9%, or 10% on a constant dollar basis, in the second quarter.
• August 2026: Great Britain’s online retail sales values were 8.9% higher compared with August 2025, according to the ONS.
• August 2026: The Census Bureau reported that the second quarter 2026 e-commerce estimate increased 12.2% (±0.9%) from the second quarter of 2025.
• August 2026: Hims & Hers raised full-year 2026 revenue guidance to a range of $3.1 billion to $3.3 billion.
• August 2026: Birkenstock added thirteen new own stores during the quarter, bringing the total number of own retail stores to 124 as of June 30, 2026.

DTC Channel Growth at Multichannel Brands

• On’s DTC channel increases by 26.0%, exceeding expectations in every single region.
• On’s global brand awareness climbs to 30%.
• At Deckers, DTC made up 34.6% of fiscal first-quarter net sales.
• Deckers reported that HOKA® brand net sales increased 7.7% to $703.5 million.
• adidas said a continued focus on full-price sales further supported gross margin expansion across the DTC business.
• Birkenstock’s growth was driven by strength in both digital and in-store.

Source: On, adidas, Birkenstock, Deckers and NIKE results, June to August 2026

DTC vs Wholesale Growth

• NIKE reported that wholesale revenues for the fourth quarter were $6.6 billion, up 4% on a reported basis.
• NIKE Direct revenues for the fourth quarter were $4.1 billion, down 7% on a reported basis and down 9% on a currency-neutral basis.
• NIKE Direct generated 39.2% of NIKE Brand revenue in fiscal 2026.
• Deckers wholesale net sales increased 2.2% to $666.7 million compared to $652.4 million, against DTC net sales of $352.8 million compared to $312.2 million.
• adidas maintained a conservative sell-in approach, especially in Europe.
• On’s outlook includes the deliberate management of wholesale sell-in.

Key finding: NIKE’s fiscal 2026 results show wholesale revenues were $27.5 billion, up 6% on a reported basis, while NIKE Direct revenues were $17.7 billion, down 6% on a reported basis. NIKE’s DTC pivot is now running in reverse, with wholesale partners carrying a larger share of its sales.

Is DTC Better Than Retail?

DTC is not automatically better than retail. At adidas, currency-neutral net sales in the direct-to-consumer (DTC) channel grew 25% in the second quarter, far ahead of wholesale. NIKE’s fiscal-year figures above show the opposite result. Brands with strong full-price demand gain most from selling direct; the rest still need retail reach.

E-Commerce Share of US Retail Sales

• Total retail sales for the second quarter of 2026 were estimated at $1,986.5 billion, an increase of 2.9% (±0.2%) from the first quarter of 2026.
• Over the year, total retail sales increased 6.7% (±0.5%) in the same period, well behind e-commerce.
• The estimate was adjusted for seasonal variation, but not for price changes.

Online share keeps rising, but slowly, which helps explain why DTC brands now treat stores and wholesale as growth channels. The shopper side of that shift is tracked in our online shopping statistics.

US E-Commerce Sales by Quarter

• US e-commerce sales rose by an increase of 3.8% (±0.4%) from the first quarter of 2026.
• E-commerce sales added $36,960 million over four quarters, on a seasonally adjusted basis.
• Each quarter in the adjusted series set a higher dollar total than the one before it.

UK Online Share of Retail Sales

• In Great Britain, online sales values rose by 2.5% over the month to August 2026, up from a fall of 4.2% in July.
• The total spend (the sum of in-store and online sales) rose by 1.3% over the month.
• The online proportion rose to 28.4% in July 2026, per the ONS.

The ONS monthly retail sales bulletin counts online sales across all retailers, including store-based chains, so it is a ceiling for UK DTC activity rather than a DTC-only estimate.

DTC Customer and Subscriber Counts

• Warby Parker’s active customers increased 4.1% on a trailing 12-month basis, and average revenue per customer increased 6.6%.
• FIGS active customers as of June 30, 2026 increased 13.2% year over year.
• FIGS net revenues per active customer rose, an increase of 10.1% year over year.
• FIGS AOV was $127, an increase of 8.5% year over year; order value is the other half of the efficiency equation covered in our e-commerce conversion rate statistics.

Source: FIGS, Hims & Hers and Warby Parker Q2 2026 results

The three brands define customers differently, so the spend column is not a like-for-like comparison: Hims & Hers reports monthly revenue per subscriber, while FIGS and Warby Parker report trailing annual figures. Hims & Hers shows how far the subscription economy model can push recurring revenue in health.

Gross Margins at DTC-Led Brands

• Warby Parker’s margin was 53.0% of revenue in the prior year.
• Warby Parker also booked a 110 basis points benefit from the one-time inventory write-downs in Q2 2025 related to the sunset of the Home Try-On program.
• FIGS gross margin posted an increase of 820 basis points year over year.
• On’s margin rose 3.9 percentage points year-over-year, even while fully absorbing higher U.S. import tariffs and excluding any tariff refunds.
• NIKE’s fourth-quarter margin included an approximately 900 basis point benefit due to the expected recovery of the International Emergency Economic Powers Act (“IEEPA”) tariffs.
• Birkenstock’s margin was down 140 basis points from 60.5% in the prior-year period.

Worth noting: At lululemon, gross margin increased 200 basis points to 60.5%, but this includes $134.5 million of tariff refunds which increased gross margin by 560 basis points. Stripped of the refund, the margin would have fallen, so Q2 2026 apparel margins need a tariff adjustment before any comparison.

DTC Brands Opening Physical Stores

• lululemon opened nine net new company-operated stores during the second quarter.
• Target and Warby Parker said five shop-in-shops will debut in 2025 with plans to open more in the years ahead.
• Each Warby Parker at Target location will offer glasses, sunglasses, contacts, eye exams, and vision tests.
• Allbirds moved the other way: its U.S. direct business fell by $7.6 million, driven by declines in e-commerce and retail channels and retail store closures.

Why Are DTC Brands Launching in Retail Stores?

DTC brands open stores and retail partnerships to reach shoppers who still buy in person and to lower the cost of finding new customers. Target and Warby Parker framed their deal as a way to bring designer-quality, affordable eyewear to even more consumers through the retailer’s newest shop-in-shop. Store-heavy growth also carries fixed occupancy costs that online-only brands avoid. The split between online and in-store purchasing is tracked in our online consumer buying behavior data.

DTC Marketing Spend

• FIGS marketing expense equaled 14.5% of second-quarter net revenues.
• FIGS selling and marketing expense combined reached 36.7% of second-quarter net revenues.
• ODDITY CEO Oran Holtzman said: “We remain hopeful that IL MAKIAGE is on track to achieve normalization, and we continue to work in close partnership with our largest advertising partner to solve the technical issue.”

Source: Hims & Hers and FIGS Q2 2026 results

Why it matters: Hims & Hers spent 40.0% of its Q2 2025 revenue on marketing, and that share fell to 34.8% a year later. Scale is lowering the marketing burden per dollar of revenue, but paid acquisition still costs Hims & Hers about a third of sales.

ODDITY’s warning shows the other side of the same dependence: a brand that finds customers through one ad platform inherits that platform’s outages. Creator-led channels are one hedge, and our influencer marketing statistics track where that budget goes.

DTC Brands in Decline: Allbirds and ODDITY

• Allbirds sought stockholder approval of the Asset Sale and subsequent dissolution and winding down of the Company.
• A distribution to stockholders of net proceeds, taking into account wind-down expenses, is anticipated to be made in the third quarter of 2026.
• Allbirds reported that net revenue also declined in the international business by $2.3 million.
• ODDITY said SpoiledChild is on track to grow at least 35% compared to 2025.
• ODDITY held cash, cash equivalents, and investments of $561 million.

Source: Allbirds SEC filings, ODDITY Tech and lululemon results, March to September 2026

Allbirds is the starkest case here: a brand built mainly on direct sales is being sold for its intellectual property. ODDITY’s cash position gives it room to wait out the IL MAKIAGE disruption.

DTC Brand Revenue Guidance for 2026

• Warby Parker’s range represents approximately 10% to 12% growth versus full year 2025.
• Warby Parker’s guidance equates to an Adjusted EBITDA Margin of 12.2% across the revenue range.
• Warby Parker’s guidance includes a full-year $14.4 million tariff refund benefit.
• Warby Parker’s outlook does not include any revenue contribution or halo benefit from Intelligent Eyewear.

Source: Hims & Hers, Warby Parker, ODDITY Tech and On results, August and September 2026

What Are the Disadvantages of DTC?

The main disadvantages of DTC are the cost of acquiring customers, dependence on advertising platforms, and full exposure to demand swings. FIGS shows the acquisition cost: its selling and marketing expense equaled 36.7% of net revenues in the second quarter. ODDITY’s IL MAKIAGE slump shows the platform risk, and Allbirds shows the demand risk.

Selling direct also means carrying stores, returns, and customer service in-house. When sales fall, those fixed costs stay.

Conclusion

On’s DTC channel reaches a new second-quarter high of 45.7% of net sales. At NIKE, NIKE Direct revenues were $17.7 billion, down 6% on a reported basis. Wholesale grew instead, and Allbirds chose a sale over a turnaround. Selling direct works best for brands with pricing power and a customer who comes back without an ad; for everyone else, wholesale and stores are back in the plan.

The next quarters will show how much of this year’s margin strength came from one-off tariff refunds, and whether new products such as Warby Parker’s Intelligent Eyewear can lift DTC revenue without matching increases in marketing spend. Brands testing social commerce channels will be the ones to watch for lower acquisition costs.