The idea behind Fabletics is simple, and according to a $250 million growth in just three years, very successful. Amazon may be a giant with 20% of the current market for online fashion sales but Kate Hudson and Fabletics other co-founders had no problem taking them on. One must be a member to shop with Fabletics but that’s easy to accomplish and once done, shoppers can begin to enjoy the services that have made this company such a success.
Fabletics caters to what the modern consumer expects. Providing excellent customer service, popular brands, and exclusive designs have been the keys to this company’s success. There are currently sixteen physical stores in operation with more to come in the near future. Members are always “on-trend” when they purchase through Fabletics and at about half the price of its competition. When you already know who someone is, and what their tastes are, matching them to the perfect outfit and keeping them happy is easy to do.
Fabletics uses a new technique known as “reverse showrooming” for the convenience of their members. Consumers don’t browse online and then find cheaper deals elsewhere because they already know what to expect from this company. As much as 50% of the shoppers that take their business to physical locations are already members when they get there, and many people come to join while in the store so they can reap the benefits offered.
Fabletics keeps track of data regarding preferences which means when you shop at one their physical locations there will always be something suitable just waiting for the member to find it. The balance of customer experience, consumer education, and lifestyle works as well for the company as it does the shopper. With an average growth rate of 35% yearly, this company has certainly found the formula for customer satisfaction and business success.
Intelligent distribution, consumer friendly membership programs, and fast purchase options put Fabletics in a position to more than meet the challenges of today’s clothing market. Simply put, today’s savvy consumer appreciates a new kind of showroom experience at this company whether they shop online or offline. Amazon is tough competition but it doesn’t appear that building a fashion brand in 2017 which draws customers away from them to Fabletics is going to be a problem for this new company.
Fabletics was founded in 2013, by Kate Hudson, Adam Goldenberg, and Don Ressler. This private industry retail business deals in women’s sportswear and accessories, often referred to as “athleisure.” In early summer of 2015 they launched a men’s active wear line with Kate Hudson and her brother Oliver Hudson backing it.
September and October of the same year saw Fabletics open their first physical locations in malls located from New Jersey to Woodland Hills. Beginning February 2016, 75 – 100 stores are scheduled to open within the next five years. By March 2016 the company had included dresses and swimsuits to their active wear and it’s beginning to look like anyone who doesn’t already have a membership ought to consider one if they want to keep up with current trends in an affordable way.
Fabletics is an awesome company that is headed by Kate Hudson. Her styles appeal to many women, and they are versatile, and easy to wear. She opened her company three years ago, and she has seen quite a bit of success since then. She has over 1,000,000 followers that keep up-to-date with the latest styles that she is selling. They want to know what she is offering so that they can add it to their wardrobe.
How Much Does Fabletics Bring In?
Fabletics has done a tremendous amount of business in the 3 years it has been in existence. It has become a business that brings in $250 million. Kate Hudson is so proud of the company, and she speaks openly about it being a tech powerhouse, and not just a fashion brand. This she is going to talk about at the next Code Commerce event with Recode’s.
What Makes Fabletics So Special?
One of the special parts of Fabletics is that it uses the online ability to look at costumer data. This is so they can have merchandise available in areas that like certain styles. When they do this, they are reaching, and pleasing their customers in a better way. In the past year, there have been several new stores opened, and there are plans to open many more in the future.
Other Interesting Facts About Fabletics
Fabletics is developing its reverse showroom. This technique was made popular by Warby Parker and Apple as an approach to retail. Fabletics concentrates on the people, accessibility and culture of an area in order to get the most from their business.
With all the positive aspects of Fabletics on Wikipedia, it looks like the future will be a great time for them. Kate Hudson has done a wonderful job in creating fashions that women will love to wear.
Don Ressler, co-CEO of Techstyle (formerly Just Fab Inc.), has a gifted eye for fashion trends, which has turned his company into a multi-million dollar success story. As current co-CEO of several successful brands like Kate Hudson’s Fabletics, Ressler’s keen understanding of online fashion retail has allowed Techstyle to become a leader in the world of e-commerce.
Ressler has been an online retail entrepreneur for more than 15 years, with many successful startups under his belt. In 2001, Ressler’s first company, FitnessHeaven.com, was purchased by Intermix Media. The COO of Intermix, Adam Goldenberg, joined Ressler to start a new company, Alena Media, an e-commerce and performance advertising division. In 2005, Intermix was acquired by News Corporation, and the pair, now very good friends, chose to pursue other opportunities.
Ressler and Goldenberg knew that evolving online technology was going to take a major role in the success of online retail, and that because of the emergence of social media, online brands had to be more engaging than ever. With this knowledge, the pair formed Just Fab, an online retailer based on the subscription service business model. In 2010, the subscription service model was just beginning to take off, and Adam Goldenberg and Don Ressler had the foresight to capitalize on it.
The pair knew that their brand had to be fun and socially engaging to appeal to consumers. The subscription service model is highly interactive, allowing consumers to fill out questionnaires about their fashion tastes. For a monthly fee, a shipment of new fashion merchandise is mailed directly to their door.
With the enormous success of Just Fab, the company began to acquire smaller fashion brands across the world. In 2013, the pair teamed up with Kate Hudson to create Fabletics, a subscription-based online retailer focusing on the “athleisure” fashion trend. Since its creation, Fabletics has gone on to earn over $250 million, making it by far the most successful venture for the Just Fab company.
In 2016, Goldenberg and Don Ressler changed the name of their company to TechStyle Fashion Group. The new name signifies the company’s emphasis on their use of technology to develop fashion brands.
Today, the company is the parent brand of numerous successful online retailers. In addition to Fabletics, the company has also acquired ShoeDazzle and FabKids. The company is expected to close out 2016 with $650 million in revenue on adweek.com, and the astounding success of Fabletics has earned the company a competitive presentation slot at the highly prestigious Code Commerce Series, hosted by Recode, the online technology website based in Silicon Valley. The brands which are overseen by Techstyle are continuing to pull in enormous revenue, ensuring that Techstyle is only going to continue to grow from here.
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