Adam Goldenberg said a corporate name change was on the way, and he wasn’t kidding. The title is now TechStyle Fashion Group, formerly JustFab Inc.
The brand is still known as JustFab, and Adam Goldenberg has hinted at an IPO soon, and we believe him. The company recently hired Todd Tappin as chief financial officer, and he’s an expert at initial public offerings on digitalexperience.nrf.com.
Adam Goldenberg knows a lot about JustFab, because he and his business partner Don Ressler co-founded the online subscription fashion retailer in 2010. Since that time, the brand has remained a leader for online start-ups, and the key numbers have been looking splendid. In the first quarter of 2016, JustFab had turned a profit for the first time. This year, JustFab is looking to pull in revenue of $650 million, up from $505 million last year.
JustFab works on a VIP membership concept, where women buy into the service and receive a personalized shopping experience and boutique based on their style favorites on wikipedia.org. The brand sells lots of trendy shoes, with about 10,000 to choose from. In addition, they also feature amazing handbags, clothing, jewelry and sunglasses at affordable prices with excellent quality. The concept must be working, because there are more than four million subscribers worldwide under the JustFab umbrella. Celebrities also give JustFab extra publicity when they turn up on the red carpet wearing the brand’s glamorous shoes and evening clutches. Some of these famous faces include, Emily Blunt, Amy Adams, Ariel Winter, Angie Harmon and others.
Adam Goldenberg doesn’t know much about women’s handbags or shoes, but he knows how to build a brand successfully in a brief time. Maybe this talent is in his DNA, because the successful entrepreneur started very early creating companies at http://www.builtinla.com/2014/01/18/3-la-ceos-you-need-know-now-adam-goldenberg-justfab. At just 13, Adam Goldenberg took his Bar Mitzvah money and established an online bulletin board service. Just two years later, the enterprising soul turned the company into the gaming website, Gamer’s Alliance. The venture was later purchased in 1999 by Intermix Media, parent company of MySpace. Little did they know, that the company was bought from a barely 19-year-old.
From there, Adam Goldenberg never looked back; and since hooking up with Don Ressler, the two business minds have dominated the e-commerce playing field on bloomberg.com. Both partners understand how to launch new companies in today’s volatile online marketplace.
Under the JustFab umbrella are several successful retail off-shots that operate on the same subscription service. Fabletics is the most popular venture at the moment, and maybe actress Kate Hudson is the reason. She is also a co-founder with Adam Goldenberg and Don Ressler. Fabletics sells affordable and well-made, figure-flattering active wear for women, including brightly colored and patterned leggings, tanks, bra tops, yoga pants, tees, swimsuits and a new line of adorable dresses. The company’s mission is “Live your passion,” something Kate Hudson does very well when not on the red carpet.