Technology and e-commerce are now the new trends in the fashion industry. Hundreds of companies have made efforts to apply technological innovations to their operations with varying rates of success. Nowhere is the concept of combining the three factors (fashion, e-commerce, and technology) been put to good use than in TechStyle Fashion Group.
Co-founded by Adam Goldenberg and Don Ressler, the company pioneered a successful monthly membership subscription program that attracted more than 6 million members in a few years. The membership was launched in 2010 by JustFab, later rebranded to be TechStyle Fashion Group. The program encouraged subscriptions to its VIP membership program. Subscribers benefited from up to 30 percent discounts, had access to exclusive special products and promotions, free shipping, and a loyalty reward scheme.
Don Ressler and Adam Goldenberg’s model of doing business became a magnet, with customers filling the subscription forms in large numbers. In an aggressive expansion strategy, JustFab acquired two more companies named FabKids and ShoeDazzle. It moved on to establish a market niche in Europe entering countries such as Germany, Britain, and six other countries. Adam and Don also teamed up with Kate Hudson to establish Fabletics.
The co-founders have a long story in entrepreneurial ventures behind them. Adam Goldenberg, for instance, began his startup career when he was 13 years old by establishing a bulletin board. The bulletin board later morphed into a gaming website known as Gamers Alliance. He later sold Gamers Alliance to Intermix which also owned the social media giant MySpace. He was made the Chief Operating Officer of Intermix, arguably the youngest person to hold the position in any publicly listed company.
Don Ressler has also walked a more or less similar path, having founded a successful startup known as FitnessHeaven.com which he too sold to Intermix. He too joined Intermix where he was in charge of various ventures that directly impacted shareholder value.
The two co-founded Alena Media which ended up being Intermix’s only profit-making center by the time of selling to News Corp in 2005. After intermix was acquired the two entrepreneurs, Adam and Don, moved on to establish the Intelligent Beauty. Through this new venture, they founded DERMSTORE, an online skin care product store. And a few years later they established a weight loss venture known as SENSA. Both ventures are high-value building and are believed to be highly profitable. In 2010 they launched they added another venture to Intelligent Beauty known as JustFab.
Find out more about Adam Goldenberg: https://en.wikipedia.org/wiki/JustFab