437

Corporations Canada lists 437 Inc.'s directors as Toronto-based co-founders Hyla Nayeri and Adrien Bettio plus Raissa Gerona and Michael Karanikolas, both at Revolve Group's Cerritos, California address; Karanikolas is Revolve's co-CEO and Gerona its president of brand and partnerships. Revolve's FY2025 10-K discloses an equity investment in an unnamed private company, and trade press reported an $11 million, 48 percent minority stake in an apparel firm taken in January 2026, but no primary source names 437 by name, so the split above is estimated from the board composition and the reported stake size.

• Federal corporation information - 437 Inc. · registry record “Raissa Gerona 12889 Moore Street Cerritos CA 90703 United States Michael Karanikolas 12889 Moore Street Cerritos CA 90703 United States”
• Revolve Shells Out $11M on Equity Stake in Apparel Firm · press “the filing did confirm the business is an apparel company and Revolve's stake is a 48 percent equity interest”
• Revolve Group, Inc. Form 10-K (fiscal year 2025) · filing “We hold an equity investment in a privately held company without readily determinable fair value.”

Multiple press interviews with the founders describe a female-run manufacturing factory in China as the vendor's production partner, a claim attributed to the company's own website. No customs or import filing was checked to verify a revenue split across factories.

• How these two friends from Toronto built a multi-million dollar swimwear brand · press “They are partnered with a female-run manufacturing factory in China.”
• 437 Swimwear Is About to Make Canada Synonymous With Swim · press “Production occurs in China with a female-run factory operated by Rita”

437's own site says the brand is powered by a small, all-women team based in Toronto, and press coverage from 2021 onward consistently describes the team as Toronto-based. Two of the four board seats now sit with Revolve Group executives in California, but that is recorded under ownership rather than the operating team.

• Our Story | 437 · the vendor's own site “Today, 437 is powered by a small, all-women team in Toronto.”

No current materials or supply-chain page was found. A 2017 interview describes the founders sourcing fabric on a trip split between China and Bali, and manufacturing is in China, so inputs are placed with manufacturing in the OTHER bucket as a best estimate rather than a confirmed current split.

• 437 Swimwear | Startups | Smith Magazine · press “In summer 2017, the pair spent two weeks in China and a month in Bali selecting fabric, creating new designs, updating the 437 Swimwear logo, and rebuilding the e-commerce site.”