When looking into starting a business, there are plenty of factors to think about for a successful run. Among the factors is figuring out whether or not to build physical locations. If the decision is to build physical locations, then people need to work out when to build these locations. One example of taking these steps is Fabletics, one of the most innovative and successful active wear brands. Many customers have discovered this retailer and have made it their main source of new active wear clothing. They have been amazed and impressed by the designs.
One of the most important factors to the success of Fabletics is its organization. The founders and leaders of the brand have made sure that they are not taking on too much at once. They have broken down all of their tasks into phases. As they worked on the phases, they have decided whether or not to move forward with the next phase. The merchandise, customer service, and business was handled before moving to the possible next phase which was opening up brick and mortar locations. Their location opening has turned out to be one of the most successful transitions for the athleisure brand.
Kate Hudson and the other leaders of Fabletics have waited until they were sure that the brick and mortar move was going to be a successful transition. When they have decided to open up doors to physical areas, they had already gained close to 1 million subscribers. This convinced them that opening up a brick and mortar store would be a good move. After all, Fabletics worked in the fashion industry. With fashion, customers are going to want to make sure that the items they get are going to fit them. This would involve fitting rooms among other aspects of clothes shopping. Kate Hudson did not want to drop traditional shopping completely. She was aware of where more customers were going.
When Fabletics has expanded, the brand has looked at all of the markets to find the best markets to open in. Of course there were plenty of factors they were looking at. Among the factors were the size of the market, where there subscribers lived and some other factors. Given that their store openings were a success, they have exercised their wisdom in moving forward with their goals. Fabletics is one of the brands that entrepreneurs can learn from if they want to build a business that is constantly growing.
2016 has been nothing but a fantastic year for the ecommerce, fashion and technology industry. In that year alone the industry recorded a total of 72 billion US dollars. While this is enough reason to celebrate, with revenues projected at 116 billion US dollars by 2021 puts these celebrations at a standstill for as for now. A number of industries both start ups and experienced have capitalized on a different strategies to market their business including social media marketing and CRM technology. Subscription strategies pioneered by one fashion company, TechStyle Fashion Group is also known to have positive impacts in the revenue generation.
Pioneering the industry
TechStyle through its former company JustFab are what can be called the pioneers of the industry. In 2010, the fashion-based business led by Adam Goldenberg and Don Ressler started out a monthly subscription based program for their products. The success in revenues, sales figures and customer loyalty saw the business incorporate this marketing program in all its businesses including Fabletics after it had rebranded in 2016.
About Adam Goldenberg
Goldenberg one of the company’s co-founders is an amazingly gifted individual. Mr. Adam made a debut in the entrepreneurial industry at a tender age of 13 years. At 17 years the young man was selling his gaming console business to Intermax. After the sale, Intermax retained the services of Mr. Goldenberg making him the youngest ever COO in history at a tender age of 19 years. Thanks to his passion of technology Adam was able to see a number of different business opportunities which consequently made him leave Intermax and partner with his friend and fellow entrepreneur Don Ressler and form a number of companies.
Don Ressler and Adam Goldenberg in addition to being passionate about technology, they too are passionate about meeting their customers’ satisfaction levels. All the technology invested by the company has been geared to meet the needs of the customers which suffice to say they have exceedingly achieved.
Reinventing the digital office
Being a leading Techfasion business, image is very important to TechStyle Group. Going by the standards of the stylish 120,000-square-foot El Segundo corporate headquarters, the company has not disappointed. In addition to being a welcoming environment, the ambiance of the place is inviting with the business encouraging socialization and friendliness towards the employees.
Currently TechStyle has an employee population of two thousands employees and over four million subscribers. Its projected revenues for 2017 is at 700 million US dollars with the prospect of the business calling for an IPO being discussed in harsh tones.