Fashion

Strategies Utilized by Fabletics to Reach a $250M Valuation in 3 Years

Fabletics succeeded in achieving what everybody considered to be impossible. They dared to take on the e-retail giant Amazon.com and judging by the look of things, this fashion company owned by among others, Kate Hudson, has outdone itself. The brand specializes in offering quality fashion apparels for women interested in comfortable exercise and work clothes. In the coming days, and as part of their broader expansion strategy, they are scheduled to introduce a line for men.

 

Redefining the Shopping Experience

 

The explosion of consumerism means that a brand has to put in a lot of effort into their products. Consumers want the very best quality and price is not always an issue. People place more emphasis on the quality and the value they are getting their money’s worth. The one thing which separates this outlet from its competitors and peers is their approach to dealing with the customers. Fabletics has put in place several measures and mechanisms to ensure they get a near-perfect picture of what you, as their customer, likes and wants. Becoming a member of this outlet comes with many rewards, for instance, you get tailor-made suggestions and recommendations every time a new interesting fashion piece arrives. That’s not even mentioning the tons of discounts and other money-saving offers VIP members receive working with this fashion house.

 

Fighting Amazon

 

Building and maintain a healthy relationship with their clients has seen Fabletics increase their presence, tremendously. Today, the establishment, also owned by Don Ressler and Adam Goldenberg, has physical stores in ten countries spread out across the globe. The top executive leaders at Fabletics are have studied the fashion industry for decades. Eventually, it dawned on them why the traditional brick-and-stone fashion stalls were not doing so well. Customers often walk into this premises to window shop at most; once they find a piece which interests them they take a snap of the sweater or shoe and then look for it on Amazon. In a bid to avoid their customer’s shopping elsewhere, Fabletics has a strategy which involved curating in as much online data about their members, with the consent of course. Fabletics then uses the information about the pages they like and their fashion tastes and preferences and then finds items matching their description to suggest to their customers.

 

About Fabletics

 

Fabletics Inc. is an online subscription fashion store owned by the trio of Kate Hudson, Don Ressler, and Adam Goldenberg. The brand officially got launched in 2013 and has fast risen to be an inspirational success story and model to the business world. It’s currently valued at $250M and this figure is expected to hit a billion in less than a decade, according to financial analysts.

 

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