Adam Goldenberg on JustFab to TechStyle
The online retailer JustFab, parent company of brands such as FabKids, JustFab, ShoeDazzle, and Fabletics, recently rebranded themselves as TechStyle Fashion Group at http://www.entrepreneur.wiki/Adam_Goldenberg.
In an official release, Adam Goldenberg, CEO of TechStyle, stated that when he and Don Ressler founded JustFab, they wanted to change the way people shopped by providing on-trend fashion at extremely good value. While they stayed true to that dream, the company was transformed into a massive brand-building platform that is being driven by data and personalisation. He also stated that the new name represents perfectly what JustFab has become. He said it captures the essence of it and truly shows where Fashion Avenue meets Silicon Valley.
When the company first started, it was just JustFab, but now it operates multiple brands.
The renaming of the company is aimed at highlighting the use of technology and aid in the telling of the company’s story.
Adam Goldenberg said that he thought he needed to do a better job with telling their story with data. He stated that the company spend its entire life thinking “How do we make our customers happy?”
He said that the company has gone through many changes. They increased customer service and rolled out online cancellation processes. Because of this, customer complaints have been greatly reduced. He specifically highlighted that the perception of all of TechStyle’s brands are incredibly positive and that they are on track to make $650 million this upcoming year. That is about a 29% increase from the previous year.
In addition, Fabletics has been building physical retail stores. Adam Goldenberg is planning for their to be 50 to 100 locations within the next five years.
JustFab was co-founded in 2010 by Don Ressler and Adam Goldenberg. It was an online fashion company that aimed to deliver a more personalised shopping experience to customers worldwide. They noted on techstyle.com the trend of customers spending more and more online and aimed to capitalize on this fact. When they first started, it was just JustFab, but now they own many more brands.
TechStyle continues to reimagine the business of fashion through data, personalisation, and vertical integration on hudl.com. By controlling the entire cycle from production, development, manufacturing, distribution, and marketing, the company essentially cuts out the middleman and passes on all the benefits to its customers.