One thing that can be said about the fashion industry is that it is for the most part meant to be experienced in stores. While online is passable, the internet has a ton of disadvantages. For this reason, Fabletics has taken its online experience to the physical markets so that people can actually touch and try on the products for themselves. For one thing, there are no fitting rooms on the internet. Instead, people have to make sure that they are working with other methods of finding out whether clothes fit them or not. The only thing is that the sizing is inconsistent among different clothing sources.
In order to bring more people into the company, Don Ressler has decided to open up physical locations for Fabletics so that more people will be interested and encouraged to shop there. For one thing, Fabletics already has tons of unique items. This is going to capture the interest from many people. When people take the time to get what they can from Fabletics, they can actually find a well fitting item that they like and impress others and themselves with the outfit they put together.
One of the areas that Don Ressler is making sure is in top order is the online presence. Given that the company is an online only store, Don is making sure that he is handling all of the aspects of the marketing. He works to make sure that his company is not only reaching out to new customers, but is also keeping the current customers that they have with new marketing techniques.
One thing that can be said for Fabletics is that they are doing their own marketing. They are not relying on marketing and advertising companies to do their advertising for them. There are a few things that advertisers are not doing. Don has decided to make marketing for Fabletics to be somewhat interactive. Customers do not want to be told what they should want or buy. They prefer to be asked and consulted about their preferences. Then when they visit the stores and see that they are being listened to, they will appreciate the services.
Find out more about Don Ressler: http://www.businessinsider.com/justfab-becomes-techstyle-fashion-group-2016-8
Fabletics is a fashion-forward athleisure brand established in 2013. The enterprise has grown into a two hundred and fifty million dollar company within three years. The founders of Fabletics are Kate Hudson, Don Ressler, and Adam Goldenberg. Kate Hudson achieved in the corporate world despite being an actress with no background in business. Reseller and Goldenberg were the founders of TechStyle Fashion Group that has experience in the online fashion world, which provided funding to the corporation. Fabletics is a stylish, reasonably priced and quality athleisure brand in the universe that produces workout gears for people.
Kate Hudson reviews budgets and selects social media strategies alongside designing outfits to ensure that product designs are fresh. Hudson manages sales of the company as well the stock through the company’s data-driven approach, which helps her to know the clothes that are selling and the ones that aren’t moving in the market. The data also assists to match customers with their perfect outfit. She markets Fabletics gears by wearing them whenever she is going to the gym, because of the authenticity of the costumes. The firm’s products are almost half the price compared to other companies in the industry. Fabletics is committed to quality, which has earned the company a top rating from the Better Business Bureau. The enterprise ensures customer satisfaction, which made them upgrade their customer service department. The company has earned an incredible reputation in the business world that attracted more retail businesses in 2015 by a growth of 644 percent. Fabletics is headed by Gregg Throgmartin and has over one million members across the universe.
The success of Fabletics attracts several celebrities including Demi Lovato, who poise rapid growth of the company in the future. The firm incorporates reverse showroom because of the unique way they stand out and the quality of their products. Reverse showrooming provides people an offline platform where they view commodities but instead buy from other sources at lower prices. The strategy helps the business to create relationships with its customers besides making it a reliable firm in the market. The reverse approach provides Fabletics knowledge on local fairs much better than before through events and other activities. The strategy attracts more customers, which results in an approximated 25 percent of new members as well as 30-50 percent of their loyal clients. The firm has expanded its business by creating over twenty stores as a result of the reverse showroom.
Adam Goldenberg entered the world of entrepreneurship as a teenager. He became the youngest chief operating officer of a publicly traded firm and later became the co-founder and co-chief executive officer of JustFab Incorporation, the parent company to the famous fashion brands Fabletics, JustFab, FL2, ShoeDazzle, and Fabkids. In just seven years, JustFab has experienced tremendous growth. Today, it has a labor force of over 2000 people and annual sales of $650 million. With these figures, JustFab has been labeled as one of the fastest growing fashion companies in the world.
Adam Goldenberg attributes this growth and success to a number of factors namely;
- Its ability to build brands on the Internet as well as in high growth categories.
- Its membership model that helps creates a unique commitment between JustFab and its customers. The model has given birth to a mutually beneficial relationship.
- A fantastic customer experience where JustFab is continuously aiming at exceeding the expectations of its customers.
Adam Goldenberg and Don Ressler decided to change the name of their company from JustFab to TechStyle. They arrived at this name after deciding to bring big data and programming into the operations of the company. Adam Goldenberg’s emphasis on technology does not come as a surprise. It is just a natural thing seeing that he has been a serial tech entrepreneur from the tender age of 15 years. At 17, Adam sold his company; Gamers Alliance to Intermix and 20, Intermix offered him the COO position.
Adam Goldenberg was recently invited to an interview with CNBC. The discussions surrounded the management’s decision to change the company’s name from JustFab to TechStyle Fashion Group and the future of the fashion industry. He attributed most of the improvements to the brand’s membership model to the feedback the company receives from the subscribers. The co-CEO said that one of the reasons why TechStyle stands out is because it focuses on building brands rather than just selling.
Just recently, Adam Goldenberg happily announced the $1 billion valuations of Techstyle Fashion Group. Adam believes that the new assessment will be instrumental in cementing the brand’s place in the fashion retail niche. The co-CEO does not only take pride in attaining $1 billion but is also proud of the people who have tirelessly gotten the company where it is today. Adam Goldenberg is confident that Techstyle is just about to fill the void that will be vacated by the conservatives such as Abercrombie and American Eagle.
Adam Goldenberg believes that in as much as the majority of current brands were established over 30-40 years ago – way before the rise of TechStyle; there is still an opportunity to raise brands via the online subscription and sales model speedily.
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