Fashion giant and CEO of TechStyle Fashion Brands, Adam Goldenberg, was recently interviewed for a CNBC segment where he discussed the success of child company Fabletics and the massive spike in growth that the company has seen. Just three years ago, there was no Fabletics. In a matter of just three years the company has garnered $250 million and sales and gone from 0 to over 400 million subscribers on a global level.
Fabletics offers an opt-in membership program that sends a monthly athletic wear outfit to your door based on choices made online. This line found its niche in athletic wear, or “athleisure wear” that was both stylish, affordable and made from the highest quality materials. Goldenberg shares that his goal for the company is to have a truly happy consumer, noting that consumers can pause monthly shipments at any time and noting the typical consumer orders around 3-4 times per year – making it one of the most flexible membership subscription programs on today’s market.
Formerly JustFab brands, the company made a name shift to become TechStyle Fashion Brands and according to Goldenberg, this change was done to further establish the fact that they are a tech-first, digital-first apparel brand. Unlike many companies, not only in the athletic wear space, but across the apparel landscape, Fabletics was founded in the age of digital and every move they have made has put the consumer’s digital experience first.
Goldenberg was also named as one of the three LA CEOs you need to know in a recent article. There, he discussed again the importance of using consumer data and metrics first when developing a concept and trying to ensure your brand resonates with consumers. In fact, he says that his team not only looks at the brand’s numbers in detail on a daily basis, but often hour by hour. This allows them to pivot easily if they realize something isn’t resonating, or if a certain offering is become a customer favorite, they are on the early track to driving additional sales.
Goldenberg has been in the digital apparel space since his start – launching an internet technology incubator called Intelligent Beauty as early as 2004 and in 2008 coming up with the idea and founding JustFab (now TechStyle). 2017 promises to be a huge year for the brand, as member numbers continue to grow and the company is far from the phase of raising funds and is fully cash-flow positive.