One retailer now accounts for 42 percent of 2026 Faire revenue. It is the single best proof the product sells at volume, and the single biggest concentration risk on the book. Here is the honest read on both.
Both numbers are true. Neither one on its own is the story. That's what the rest of this report is for.
Aviator Nation's first order landed the week of 22 Sep 2025. Every dark red segment from that point on is Aviator Nation stacked on top of the rest of the wholesale book. The dashed line is a 4-week rolling average of everything excluding Aviator Nation, so the underlying trend is readable through the week-to-week noise.
Month-on-month is on total revenue. Year-on-year is on the ex-Aviator Nation column only, since Aviator Nation has no prior-year figure to compare against: its first order was 25 September 2025.
August 2026 shows 5 days of trading, not a month. Its change figures are marked "n/m" (not meaningful) rather than the misleading -87% a straight comparison would produce: that's a calendar artifact, not a decline. The same applies to Aviator Nation showing $0 in August: this account routinely goes 3 to 8 weeks between orders, so a quiet 5-day window is not a signal.
243 retailers bought from Love Is Project on Faire in 2026. Here is Aviator Nation next to the next nine largest, all on the same scale, plus what's left after all ten.
Aviator Nation alone is worth roughly as much as the other 233 active retailers combined, and more than 20 times the next-largest single account. There is no second Aviator Nation on the book right now.
Aviator Nation isn't one buyer, it's a chain of 20 stores, and Faire's ship-to addresses let us split the account out store by store. Fifteen have placed at least one order in this window, five have not, and we now know exactly which.
The headline finding: Aviator Nation operates 20 stores, not the 19 the client believed and not the 15-store floor this data alone could show. That number, and every address on this page, comes directly from Aviator Nation's own live public store locator (aviatornation.com), queried for this analysis: it is not an estimate. Fifteen of the 20 have placed at least one Faire order in this window. Five have never ordered: Aspen CO, Brooklyn NY (Williamsburg), Malibu "Dreamland" CA, Malibu CA, and Santa Monica CA (RIDE). These are confirmed, operating Aviator Nation storefronts, not a blind spot in the Faire data, so they're five named prospects inside a chain that already buys from us, not four unknowns.
Bars are scaled to the highest-revenue store, Austin at $9,321, not to Aviator Nation's total. Percentages are each store's share of the $55,823 full-window Aviator Nation total.
Two separate San Francisco addresses appear, 520 Hayes Street and 1501 Haight Street. They are counted as two stores throughout this section, not one.
The client asked for this directly. Read the 2025 column against one caveat: only three of the 15 stores had any 2025 activity at all, because Aviator Nation's first order anywhere was 25 Sep 2025, so the 2025 column covers roughly three months of trading, not twelve. A store showing $0 in 2025 and a full number in 2026 is a partial year, not a collapse followed by a recovery.
2025 total across these 15 stores: $7,397, all from Austin, Laguna Beach, and Haleiwa, the only three stores with any 2025 activity. 2026 total: $48,426. Full-window total: $55,823, matching the Aviator Nation full-window total above.
Real, operating Aviator Nation storefronts per the brand's own store locator, not a data gap. These five have simply never placed a Love Is Project order through Faire. Useful context for whoever handles direct outreach with Aviator Nation.
The two Malibu addresses sit two doors apart on Pacific Coast Highway: likely a companion concept store in the same complex rather than a duplicate listing. Both show zero Faire orders.
9 of the 15 stores have ordered exactly once. Only 6 have reordered at all. Most of this account's store base has not yet shown it will come back a second time.
Past 120 days since last order: East Hampton NY (212 days), Miami FL (211), New York NY (141), San Francisco Hayes St (135), and Mill Valley CA (133).
Where a store has reordered, the gap is 191 days (Austin), 202 (Haleiwa), 94 (Vail), and 45 then 239 (Laguna Beach). San Francisco Hayes St shows 31 days. Mill Valley and San Francisco Haight St each show a same-day gap of 0: that's one buy split across two order numbers, not a true reorder.
Every single Aviator Nation line item in this data is a Bali Friendship Bracelet. No other product category has ever been ordered. 72 distinct colourways appear across the 15 stores.
Each store buys a wide colour spread rather than depth in a few colourways. That's a fixture or display buy, which means replenishment is predictable once a store is on a cycle, rather than opportunistic.
520 Hayes Street and 1501 Haight Street are distinct addresses and are treated as two separate stores throughout this section.
What this means: the concentration in this account is not one buyer, it's 15 accounts inside a 20-store chain, and most of the 15 are not yet on a reorder cycle. The upside here is replenishment of stores already buying, plus five known, named doors that have never ordered, not blind prospecting for new ones. The five stores that have never ordered and the nine that have ordered exactly once are the two clearest openings in the whole Aviator Nation relationship: known doors, known appetite for the product, and no reorder plan behind either group yet.
Aviator Nation placed its first order in September 2025 and has scaled every quarter since: $14,511 in Q1 2026, $21,135 in Q2, and $12,780 in July alone. That is the shape of an account that is working, reordering, and increasing its buy each time. A retailer that keeps coming back at rising volume has validated the product commercially in a way no marketing test can. This is a maturing account, not a one-off windfall.
One retailer: the next-largest account is 2.1 percent of revenue, so if Aviator Nation pauses, 42 percent of Faire revenue goes with it and nothing else in the current book absorbs the gap. One product line: every Aviator Nation order visible in this data is a Bali Friendship Bracelet, so the dependency isn't just on one buyer, it's on one buyer's appetite for one collection. One channel: all of this sits inside Faire, with Faire's commission and Faire's relationship layer between Love Is Project and the buyer. There's also no contractual floor here: nothing indicates a committed buy or a renewal term, so the account can behave differently at any point, quietly, with no notice.
The honest framing: the business has been de-risked commercially, because the product now has proof it can sell at volume, and simultaneously re-risked structurally, because that proof currently lives in one account. Those two facts aren't in tension. They're the same fact from two sides. The job for the next twelve months is converting the first into insurance against the second.
It's better than it looks, and it isn't the number that should worry anyone. Two reasons the headline +16.7 percent understates the underlying business. First, the comparison period is distorted by one exceptional month: July 2025 was the strongest non-Aviator month in the whole dataset at $15,012, driven by two unusually large weeks, and it sets an inflated comparison point. Look at the first half of the year only, January through June, and the ex-Aviator book is up 27.1 percent, not 17. Orders grew from 141 to 154 over the same window, so this is a broader base, not just bigger orders. Second, order count is up across the full period too: 178 orders in Jan to Jul 2025 against 204 in the same window of 2026.
For an established accessories brand on a marketplace where a lot of comparable brands are flat or declining, underlying growth in the high twenties on a 243-retailer base is solidly good.
Across the full 2025 to 2026 window, 506 orders came from 243 retailers: roughly two orders per retailer in twenty months, at an average order of $415. Excluding Aviator Nation, that's essentially unchanged. The book is wide and shallow: most retailers place a small opening order and then either don't reorder or reorder once. Growth is coming from finding new stores, not from existing stores buying more. That's the real strategic weakness, and Aviator Nation is proof it's fixable: 22 orders at a $2,537 average, over the same full window. The gap between $415 and $2,537 isn't a gap in the product. It's a gap in account development.
A $48,000 account is currently being managed by Faire's reorder mechanics, which is to say it isn't being actively managed at all. The single most valuable thing to do this quarter: identify the buyer, get a direct line, ask for their seasonal buy calendar, offer first-look or exclusive colourways, and build a forecast instead of waiting on POs. Worth confirming their door count too: $48,000 spread across a multi-store chain is a low per-door number, which means the upside inside this account is likely larger than the risk of losing it.
At current volume, Faire's commission on this account is material money, plausibly five figures annualised. Whether it was brand-referred or Faire-sourced changes the commission picture significantly, and it costs nothing to ask. Do not migrate an account off-platform in a way that breaches Faire's terms: confirm the rules before acting.
Two orders per retailer in twenty months is the number to move. With roughly 5,700 wholesale contacts in Klaviyo and 7,200 in Faire, segmenting by days since last order and by last collection purchased, and triggering a reorder sequence at the natural restock window, is the biggest addressable pool this studio can execute directly. Moving the average from two orders to three across 240 retailers is roughly $100,000 of annual revenue, from accounts already acquired.
The pattern is legible: a multi-door lifestyle and beach or festival apparel chain buying friendship bracelets in volume as an impulse accessory at the till. That's a repeatable target profile, not a fluke. Build a named prospect list of 20 to 30 comparable multi-door retailers and pitch the friendship bracelet assortment specifically, rather than the full catalogue.
A reasonable ceiling for any single wholesale account is 15 to 20 percent of channel revenue. Love Is Project is at 42. The right way to get there is not to shrink Aviator Nation, it's to grow everything else until the share falls on its own. Proposed target: Aviator Nation under 25 percent of Faire revenue by end of 2027, with the account itself still growing, which implies the rest of the book roughly doubles. From here, every Faire report shows total and ex-Aviator Nation as two separate lines, permanently.
The 506 orders, 243 retailers, $415 average order, and Aviator Nation's 22 orders / $2,537 average all cover the full window, January 2025 through August 2026 (20 months). The 42.4 percent revenue share is 2026 year-to-date only. Across the full window, Aviator Nation is 26.6 percent of revenue ($55,823 of $210,191): a different, also-correct number for a different window.
Only 5 days of trading. Every August figure in this report (the month row, the final weekly bar, Aviator Nation's $0) is marked or shaded as partial. None of it should read as a decline.
First order was 25 September 2025, so there is no 2025 figure to compare it against. Any "Aviator Nation vs last year" number would be meaningless. Quarter-on-quarter within 2026 is the honest view, and that's what this report uses.
Weekly revenue swings between $0 and $13,649 purely on order timing. A week-on-week percentage off a $0 week is undefined or absurd. The weekly chart is shown as bars with a rolling average; percentage change lives at the monthly table instead.