In the world today, we eat, sleep and breathe the internet. Savvy entrepreneurs have realized that with a majority of the world connected, consumer eyes are just waiting for the next big product. It’s not uncommon nowadays to see advertising strewn across every form of social media, and for good reason. A projected $72 billion dollars was made through retail eCommerce in 2016. And this number was only expected to keep climbing, reaching a staggering $116 billion by 2021.
One of the most popular forms of ecommerce today is a group of companies with a “membership” business model. This requires customers to sign up for a monthly subscription, and in return they receive some kind of commodity on a timeline (monthly, bi-monthly, etc.) Leading the pack, a company took this idea, and ran away with it. TechStyle Fashion Group (formerly JustFab), led by CEOs Adam Goldenberg and Don Ressler, is a successful name in the eCommerce realm, with good reason.
In it’s infancy, JustFab burst onto the scene with some unprecedented ideas. For a monthly VIP subscription, members were offered special promotions, products and discounts on footwear. JF also included over a 30% savings on retail pricing and free shipping with their monthly package. The strategic move worked and in 2 years, JustFab was shipping out 2.5 million pairs of shoes.
In the following years, Adam Goldenberg and Don Ressler had grown their company into 8 more countries and acquired 2 new entities, FabKids and ShoeDazzle. To add to their success, the company paired with actress Kate Hudson to release her fitness line, Fabletics. By 2016, the company had expanded and evolved so much farther than “JustFab.” The partners felt they needed a name that better described their mission, and TechStyle was born. A label showing how they had opened so many new doors in online retail. Their pioneering concepts in membership models and using data science with marketing have set them apart, and rocketed them to the top.
Goldenberg and Ressler look forward to the future while continuing to grow their brand. With a new product line nearing release, 2,000 employees and a base of operations in California, TechStyle is sure to keep impressing. With a clear directive and no lack of motivation, this company put a shoe in the door for themselves in the world of eCommerce.
“Everything we are developing is about elevating customer satisfaction in making the products and the user experience more efficient and relevant.” said Tim Collins, chief technology officer for TechStyle. And from the sounds of it, that’s what the company plans to deliver. But for now, it’s safe to say that TechStyle and eCommerce will continue to be a great fit.