Adam Goldenberg is the co-founder and one of the CEO’s of the popular fashion company JustFab. The company was founded by Adam Goldenberg along with his business partner Don Ressler in 2010. The company is now called Tech Style Fashion Group at http://www.crosscut.vc/adam-goldenberg, a online fashion business that sales products that include jewelry, shoes, handbags, denim and accessories. Tech Style Fashion Group is the parent group of the online subscription brands, JustFab, ShoeDazzle, FabKids, and Fabletics.
Adam Goldenberg began developing his head for business at the young age of 15 when he started the company Gamers Alliance. The company was sold in 1999 to Intermix Media the MySpace parent company. Goldenberg eventually made his way across the country taking a position at Intermix Media as Vice President of Strategic Planning on Vator.tv. Adam Goldenberg became the youngest CCO of Intermix Media a publicly traded company after being promoted to Chief Operating Officer at the age of 20.
While at Intermix Media Goldenberg met future business partner Don Ressler who was extremely business oriented as well. Don Ressler also sold his business FitnessHeaven.com to Intermix in 2001. The two became friends and later collaborated to create their own company after the acquiring of Intermix by New Corporation in 2005. In 2006 Goldenberg and Ressler created Intelligent Beauty on CNBC.com.
They eventually sought out to create a business that could thrive on-line while being fashionable, sociable, fun and affordable. To achieve this concept the team hired stylists, consultants and designers. The result was JustFab. The creation on businessoffashion.com was cutting edge and innovative becoming another successful business venture with more than 2000 employees and 650 million in annual sales since 2010. Goldenberg continues to seek new and innovative ways to move his business ideas into the future.
The market for active wear has always been flooded to the point that new entrants cannot excel. However, people still are not okay with the products they are getting in the market, and this is a problem that Fabletics came to solve. According to Kate Hudson and the CEO of the company, there were lots expensive active wear brands in the market. Still, something was missing. All of the businesses that manufacture active wear had no classic, comfortable and fashionable activewear; this has a disappointed lot of customers. Kate and her colleagues decided to solve the problem by providing the customers with their needs.
Brand appeal and outreach
Fabletics has a brand has received quite some positive reviews in terms of their service and quality of products offered. The monthly membership structure has been a great appeal. After registration, the member takes a survey, and from this study, the brand can come with outfits to fit your workout sessions. One receives 2 to 3 outfits for prices as low as 49 dollars.
The brand provides quality wear tailor made to suit whichever exercise meant to be done. They fit so well, take the very shape of your body, and make you look good. Even as the brand drives at functionality and comfort, they don’t sacrifice fashion but instead, incorporate it into the mix coming up with trendy outfits. All these traits make you really feel value for your money as they run for much higher prices elsewhere whereas just go for at most 60 bucks.
Reverse showrooms strategy
Reverse showrooming at Fabletics allows it to understand its customers by building relationships and being reliable. When customers browse for products online, it is easier for them to walk into one of the physical stores to buy a brand that fascinated them. Its retail business has turned out to be one of the most successful strategies. Online data has made this strategy a success. The company shows the right content online as well as in their physical stores as a way of making the customer brand journey more interesting. This ensures that their retail stores only stock what appeals their customers.