Adam Goldenberg is best known as the CEO of fashion mega giant JustFab Inc, parent company to Kate Hudson’s brand Fabletics, which has taken the athletic apparel space by storm over the past three years. JustFab recently announced a transition to change their name to TechStyle Fashion Group – a change that Goldenberg states will only further position their company as a trailblazer in the digital space.
He has always put data and metrics first in his business ventures, including one of his earliest ventures in 2004, an online brand incubator that he named Beauty Intelligence. Four years later he again put the digital and mobile shopping experience first when he founded JustFab, a company that would grow to rising heights as one of the leading apparel companies to utilize an opt-in membership model in order to provide a fully digital shopping experience. Fabletics earned an incredile $1 billion valuation in its infancy in 2014 and now is fully funded and has positive cash flow. His goal for TechStyle, formerly JustFab, has always been to use data to satisfy his customers and keep them returning time and time again. According to an interview done by CNBC of Goldenberg, subscribers grew from zero to over 400 million globally in just three short years after its founding. In addition, the company touts 1.5 million VIP members that joined solely due to the positive referrals of their immediate family and friends. These astronomical numbers make a strong case for the data-first model that has transformed the former JustFab into TechStyle Fashion Group and has brought Fabletics to unicorn heights in both fashion and technology spaces.
In a profile on Goldenberg about 3 LA CEOs you definitely need to know, he discussed the essence of what he wants to provide and that is a quality product that customers truly enjoy. While going digital first is great and you may gather a large and engaged social media following or a lot of website traffic, if the quality of the product isn’t there and people don’t really love it, your brand will ultimately fall short. In this way, Fabletics ensures its brands are made from the finest quality and that they are always ahead of the latest apparel trends. Their following is enormous and, according to Goldenberg, the average subscriber comes back to order from them about 3-4 times a year, showcasing the continued loyalty of Fabletics members. http://www.entrepreneur.wiki/Adam_Goldenberg