Technology, fashion, and e-commerce businesses are taking the market by surprise with the rate at which they are growing. For example, retail e-commerce revenues summed up to $ 72 billion by 2016 and are projected to grow by 2021 to $ 116 billion. Established and startup fashion companies have deployed different methods to attract digital-savvy customers. The various techniques range from adopting high-end CRM technology to marketing via social media platforms.
One advanced method that has been used by the companies is membership programs. Many companies have used this technique including the famous online subscription fashion retailer called TechStyle Fashion Group led by co-founders and co-CEOs, Don Ressler and Adam Goldenberg. The company was formed with a primary role in marketing and is a technology trailblazer. TechStyle Fashion Group was founded in 2010 under the name JustFab.
JustFab entered the market with a fashion membership program for footwear in 2010. Its VIP subscribers were provided with over 30% off retail pricing, unique products, incredible promotions, free shipping and reward points. After two years of working, in the first quarter of 2012, JustFab had sold over 2.5 million pairs of shoes.
In the next four years, JustFab acquired ShoeDazzle and FabKids and then expanded its businesses to the United Kingdom and German and six other countries. Moreover, together with actress Kate Hudson, JustFab launched Fabletics. In 2016, the company changed its brand name to TechStyle Fashion Group which posed the company at a better position in the fashion industry.
TechStyle works to take the fashion industry to greater heights by integrating marketing and fashion retail with data science, membership commerce, and data science. With 2,000 employees and 4.5 million members, TechStyle is projected to earn revenue of $ 700 million this year. In 2015, TechStyle launched a personal styling system with personal stylists’ features which were appreciated by many people.
Don Ressler is a prominent entrepreneur who is an excellent mind behind many successful companies including Intelligent Beauty. Moreover, Don is well known for his vast entrepreneurial knowledge in many aspects such as he is always giving guides on becoming a great entrepreneur.
Adam Goldenberg is also an entrepreneur who started his business only at 13 years when he founded an online bulletin which he morphed into the gaming website Gamer’s Alliance. Adam sold Gamer’s Alliance to intermix at 17 years. When he was 19, Intermix made him its Chief Operating Officer. He left the Intermix to co-found Intelligent Beauty which spawned firms like JustFab.