Kate Hudson Teams Up With Adam Goldenberg And Don Ressler To Drive Fabletics Forward

Kate Hudson, known for her role in romance movies such as Bride Wars and How To Lose A Guy In 10 Days is also a model and a partial owner in several women’s athletic wear companies, including Fabletics. Hudson was attracted to this company because they found a way to get high quality and stylish designs to their customers at such a low price on Vator.tv. The company is a subsidiary of TechStyle Fashion Group, formerly known as JustFab, a company started by Adam Goldenberg and Don Ressler. Led by Hudson’s input, Fabletics took steps to integrate big data into the customer experience to drive them to styles they wanted, and improved its VIP membership program to be more transparent to customers at https://angel.co/adam-goldenberg.

Adam Goldenberg was a big marketing guru well before TechStyle Fashion Group came on the scene. As a young teenager Goldenberg was already becoming entrepreneurial and exploring business ideas, and when he was still only 15 he started a gaming advertising network called Gamer’s Alliance. This led to the beginning of his professional career when Intermix Media, the future founder of MySpace bought Gamer’s Alliance and hired Goldenberg as an executive in their company, the youngest ever on a publicly-traded company on entrepreneur.wiki. Goldenberg became friends with another entrepreneur at Intermix Media, Don Ressler who had founded FitnessHeaven.com.

Goldenberg and Ressler had combined their ideas while at Intermix Media to start an e-commerce company that was the biggest source of revenue for MySpace, but they were bitterly disappointed when Intermix Media’s new owners from News Corp phased out the company in 2005. Goldenberg and Ressler then parted ways with Intermix Media and started their own company, Intelligent Beauty. Under this company they started marketing various cosmetics and health supplement products, but then their attention turned to the fashion industry in 2010. Though they didn’t know much about running a fashion company, they got the wild idea to launch their own brand and called it JustFab.

JustFab started out as a simple online-only fashion retailer, but its fashion designs and business model started attracting celebrities including Kimora Lee Simmons and Kate Hudson. It also attracted investors and venture capital firms including Matrix Partners and Passport Capital. Thanks to the venture capital supply, JustFab started growing operations and even opened physical stores for its customers. In 2013, it became a “unicorn” or billion-dollar enterprise and has since become cash-flow independent. Goldenberg and Ressler renamed the company as TechStyle Fashion Group this last year because of the big data analytics they started using in online shopping.

Read more: TechStyle’s data-driven fashion – CNBC Video

Omar Boraie: Visionary of Development

Omar Boraie is rated by NJ Biz as one of the top developers on the East Coast. He’s recently been getting a lot of attention for his latest project in New Brunswick. The development, named The Aspire, is located in the heart of the city. He’s had a vision for a New Brunswick project for many years.

According to Mr. Omar Boraie, he began thinking about this project over four decades ago. Back then, Boraie was an Egyptian traveling scholar of chemistry. He was in Europe at the time the original New Brunswick was in its heyday. He got to witness its magnificence during its early years.

Since then, he’s always had a dream to build a similar structure that would pay homage to the original. In order to make his dream come true, Boraie founded Boraie Development LLC. Today, he’s Patriarch and President of the company. He’s also built more than just his one dream building.

Boraie Development has worked all over the New Jersey area. Most of their buildings have been in the smaller cities, but there are a few in the big cities like Atlantic City. All of the structures and projects have been successful. None of the buildings have been torn down or had funds cutoff, as of yet.

The Boraie Development’s small town feel allows them to work in many different areas. Like all development companies, Boraie Development wants to provide their clients with the best work possible. Operating over a large area like New Jersey means that every one of their projects has to be up to standard with what they want people to think of their jobs.

Boraie’s strategy has always been to have a small town vibe. While other developers try to make everything big and extravagant, Boraie is one of the few companies that give people what they need. Boraie focuses on helping better themselves rather than better the company’s profit margin. That sort of mentality is only part of why Boraie Development is so successful.

According to Patch, the other part is that Boraie believes in taking chances. While bigger developers may not have the room for risk taking when it comes to their big-name projects, Boraie’s small time developments allow for more wiggle room. It’s part of the reason they chose to stay in small-town America. Whenever they get a chance to try something new and explore, they follow through and run with it.

The New Brunswick project was not only inspired by the original, but it was also inspired by the lack of life in New Brunswick today. He felt awful about how empty the city seemed to be at the time. In its heyday, the city was bustling with life.

That’s why this New Brunswick is so important to him. This particular building is the first of a larger project. He found 21 dilapidated and vacant buildings and bought them all. He plans on reinvigorating New Brunswick like never before.

Read More: http://magazine.rutgers.edu/insights/seeing-the-future

Fabletics Uses Innovative Membership Subscription Model to Drive Sales and Expansion

Fabletics have innovatively come up with successful sales and marketing techniques centered on their online subscription models. Since the company’s inception in 2012, it has grown into a global e-commerce fashion company with a $250 million business – in three years. This is not a small achievement considering that any expansion in this competitive market category is limited because of fierce competition from Amazon, an e-commerce giant, which controls 20 percent of the online fashion market.

 

Fabletics realized that product quality and prices no longer determine high-value brands. Instead, the modern consumer takes other factors into consideration due to a shift in economics. These factors include customer experience, exclusivity of designs, gamification elements, and last-mile services. So far, Fabletics’ strategy is paying off as the company is planning to open new physical outlets nationwide.

 

General Manger for Fabletics, Greg Throgmartin, thinks that the real secret behind the company’s success lies in their reimagined version of what constitutes a high-value brand. Greg postulates that from inception, Fabletics thought out of the box and decided to tailor its membership model to offer a personalized shopping experience as well as on-trend fashion.

 

Reverse Showrooming

 

Fabletics is keen on using a reverse showrooming technique to use physical outlets to its advantage. The company focuses on growing its brand, knowing local markets through activities and events, and building relationships. Thanks to its efforts, many of the people who go to its stores are already members and at least 25% walk out as new members. What’s more, the company ensures that all clothes that customers try on in-store are added on their respective online shopping carts. This has made retail another service element for the company.

 

Using Shopping Data and Focusing on Culture, People, and Accessibility

 

On top of the reverse showrooming technique, Fabletics appreciates the value of data and uses it to its advantage. It collects and uses local data on preferences, trendy lines, and customer needs from various sources including store heat-mapping, real-time sales activity, and social media sentiment. It later uses this information to elevate customer satisfaction.

 

Fabletics tackles its growth and expansion-related challenges by balancing consumer education, lifestyle, and customer experience. Shawn Gold from TechStyle Fashion Group said that growth is heavily reliant on offering excellent products at great prices.

 

Fabletics is a nimble, risk-positive, and data-aware brand that appreciates the value of smart distribution techniques, innovative membership programs, and fast purchase options. Furthermore, by investing in retail outlets, Fabletics shows that it is ready to use every tactical advantage to provide excellent consumer experiences offline and online.

 

Review from A Foodie Stays Fit blogger

 

Blogger Teri Hutcheon wrote an unbiased review describing Fabletics’ products and service-delivery as top-end. She said that she was satisfied with the company’s membership structure because it was affordable, had numerous perks like sales discounts, and sent curated outfits to all its members on a monthly basis for only $49 to $59. Furthermore, she liked the products sold by the company because they were of high quality, trendy, and easy to use.