8-14-2017 Story Update:
Another interesting article about Don Ressler and Adam Goldenberg’s work at Fabletics, including a new marketing strategy that’s meant to bridge the gap between department store, and online shopping. Something that’s been exceedingly difficult for brick and mortar retailers looking to compete with the online market space.
5-27-2017 Story Update:
Found an interesting news article about what Don Ressler and Adam Goldenberg are doing with their Fabletics and TechStyle brands. Norcal News reports the CEO duo are working on some cool new styles, but also new integrated technology that will make shopping easier than ever.
Don Ressler is an entrepreneur who has founded and co-founded a series of successful businesses across the U.S. including Intelligent Beauty. Ressler teamed up with a young business partner and CEO of Intermix Media, Adam Goldenberg to form Alena Media. Through the performance advertising and e-commerce division of the firm, they made hundreds of millions of dollars in revenues. News Corp later acquired the Alena Media in 2005, and the partners left to pursue new opportunities.
The Launch of Fabletics
Don Ressler and Adam Goldenberg teamed up again to found JustFab Inc. as co-CEOs. In 2003, they began Fabletics alongside Kate Hudson after noticing a gap in the active wear industry. They saw many luxury brands, but none of them offered high quality and stylish gear at reasonable prices. JustFab and Fabletics are all-inclusive brands that anyone can afford. According to Don Ressler, the massive membership of over 10 million members is a testimony to that.
The membership costs for Fabletics is $39.95 every month and is automatically taken when you make a purchase. The members are required to fill up a survey on their fashion preferences on adweek.com and will be assigned a personal stylist to help in selecting items based on the information. The member can the pick an item from the suggested list, request other options, or skip the month altogether.
By December 2011, JustFab had reached 4 million members, and the number grew drastically to over 10 million members by January 2013.
History of funding for JustFab
The JustFab Company was founded in March 2010 by Don Ressler and Adam Goldenberg. In 2011, Kimora Lee Simmons was appointed the president and creative director of JustFab.
JustFab received $33 million in funding through its subsidiary company TechStyle. The funds were received from Matrix Partners, a U.S. venture capital firm in 2011. In 2012, the company acquired an additional funding of $ 76 million from Matrix Partners, Technology Crossover Ventures, Rho Ventures, and Intelligent Beauty. This enabled the firm to expand drastically across the borders to the U.K, Germany, and Canada.
Why El Segundo, CA?
When the TechStyle business grew to international standards, and the management wanted to move from the living room couch to the boardroom, El Segundo was the perfect stop. Don Ressler chose to establish the TechStyle headquarters in El Segundo due to its vicinity to the international airport and the luxurious beaches. The office also offers plenty of room for expansion. The firm currently holds over 128,000 square feet of office space.