Co-founder/CEO of Fabletics and serial entrepreneur Don Ressler has a natural talent for building winning companies. Beginning with his first startup FitnessHeaven.com, which he sold to the then parent company of MySpace.com Intermix Media in 2001, Ressler has built a long series of highly profitable businesses.
When Ressler became involved with the Intermix, the company’s COO at the time was a 19 year old entrepreneurial prodigy named Adam Goldenberg. The two realized the synergy formed during their business idea exchanges and partnered to start Alena Media, which quickly began generating hundreds of millions in revenue, becoming Intermix’s only profitable entity. Following Intermix’s acquisition by News Corp for $650 million in 2005, Ressler and Goldenberg formed their first incubator business Brand Ideas, which they later renamed Intelligent Beauty.
Intelligent Beauty’s enjoyed a success streak that motivated the company’s launch of JustFab, a subscription-based online retailer, in March 2010. JustFab had a highly-personalized model that involved new members’ filling out a “fashion personality test,” the results of which would be used to make handbag, shoes, accessories and apparel recommendations to its customers.
The business model was extremely profitable, with the firm disclosing that JustFab was generating $3 million per month in revenue and had 2 ½ million members. Ressler and Goldenberg were able to raise $33 million in Series A financing, put together by Matrix Partners and Technology Crossover Ventures.
By 2011, Intelligent Beauty, JustFab and two other businesses they launched were generating $250 million annually. Former model Kimora Lee Simmons joined the firm as president, investor and creative designer.
Ressler, Goldenberg and actress Kate Hudson started their athletic firm, Fabletics, in 2013. The JustFab founders spotted a gap in the sporting/athleisure market and saw in Kate Hudson what they wanted their new firm to represent. Being approachable, down-to-earth, good-natured and authentic were some of Hudson’s characteristics that made her a natural fit with the Fabletics vision.
By June of 2017, Fabletics was forecasting $250 million in sales for the year.
Since it’s opening, the company has had to overcome several challenges including personal attacks on Kate Hudson by the 1970’s musician Cher.
The firm’s success seems unstoppable, with 1.2 million members and sales growth of nearly 650 percent as compared with the same period last year. Fabletics has upgraded their inventory system to ensure that they had a ready stock of the more popular items. The company also maintains a top rating with the Better Business Bureau. https://onmogul.com/don-ressler