Don Ressler and Adam Goldenberg might not seem like the kind of guys who would become friends, and certainly not the kind of guys who would go into business with each other, but with several successful brand name companies under their belts, and a recent rebranding of their most popular brand JustFab into TECHStyle the unlikely pairing seems to actually be a match made in business heaven.
It all started when at the age of 15 Adam saw an opportunity to start a small business that would fill a specific niche in the B2B market, offering an advertising platform for gaming companies. After a couple of years of successful growth, he sold his company to Intermix Media, and as part of the deal took a position at Intermix. It made him the youngest chief officer to ever serve on a board of directors filling the positions of COO and VP of the company.
Don Ressler also had an upstart company that he built to a thriving commodity which he sold to Intermix. The fitness focused site that Don had developed didn’t have anything to do with the laid-back gaming industry that Adam was a part of, but despite being so different the two became fast friends. Soon they discovered that the two worlds that they had been operating in, might actually be not so different after all and in the process laid out a plan for a new type of operating model that would combine direct marketing of great products to the end consumer who could then take advantage of superb savings on items that they regularly repurchase by means of a subscription retail structure. Out of a lot of hard work and talent grew their first venture Intelligent Beauty.
In building their new business model the two men knew that there were two major factors that they would be able to take advantage of which lead consumers to purchasing decisions, pain points and trends. One of the most important factors is that American consumers will become very agitated when they cannot find what they are looking for at a price that they feel is fair for the value. In terms of fashion and beauty products this means finding things that are currently envougue at a price and in sizes and colors that they actually want to buy when they are ready to buy them.
Another major factor that dictates the purchasing choices that Americans make is current trends and popular movements. In today’s world, however trends can change and movements can come and go quickly. Most people do not have the time or the desire to keep up with it all. They want solutions that can help them stay fashionable without a lot of effort or difficulty. The business model that Don and Adam developed addressed both of these factors at the same time, giving American consumers solutions that provide them with easy access to currently trending fashion styles and ensuring that they are offered in colors and sizes that consumers actually want at a price point that they can afford this is provided via a subscription model that helps to keep overhead low and reduces the amount of inventory and advertising costs associated with the operation.
JustFab and TECHStyle quickly became a success with consumers and have led to the development of other brands which utilize the same type of business model. With the growth of the retail subscription sector, as originated by Don and Adam, America has started to look at buying things that want and need in a whole new way. A combination of both brick and mortar stores and online shops has led to a new reality for American consumers, you can have it all, and you can have it at a great price, the instant that you want it. http://www.entrepreneur.wiki/Adam_Goldenberg