Incorporating Technology In Fashion With TechStyle

In 2016, the revenues collected from retail commerce amounted to 72 billion dollars, and they are estimated to rise to 116 billion dollars by the year 2021. Startup and legacy fashion brands have attempted multiple techniques to win today’s digital-smart consumers, from embracing enhanced CRM technology to understanding how to market using social media. One style that has been tried widely is membership programs, and they have encountered variable degrees of success.

However, there’s one firm, a forerunner of subscription programs, which has been strikingly successful and has surfaced as a powerful and an overwhelming force in online retailing. Nevertheless, only a few people know about it, and most people do not see its role as a technology and marketing pioneer. The corporation is TechStyle Fashion Group, under the leadership of Co-CEOs Don Ressler and Adam Goldenberg.

In 2010, JustFab introduced the first membership program in the fashion retail industry for footwear. Its VIP monthly subscribers got over 30 percent discount on retail prices, alongside complete access to unique products and promotions, free shipping and loyalty rewards points. The model was very successful, and in two years, the website has captured six million consumers. JustFab sold over 2.5 million pairs of footwear during the first quarter of 2012. Don Ressler has been influential in decision making and transformation of the company through policymaking.

In the four years that followed, JustFab obtained ShoeDazzle and FabKids, and it successfully stretched out to Germany, U.K and several other countries, and also inaugurated Fabletics with Kate Hudson. The firm changed its name to TechStyle in 2016, as a better image of the position of the company as a platform that’s re-creating fashion marketing and retail by incorporating them with membership commerce, data science, and personalization.

Adam Goldenberg is the co-CEO and co-founder of TechStyle, and his career in startups started at the age of 13 when he began an online bulletin that changed to Gamer’s Alliance, a gaming website. At the age of 17, Adam sold Gamer’s Alliance to Intermix, a mother company to MySpace, an earlier social media site. Intermix gave Adam the position of chief operating officer. When he left Intermix, Goldenberg established Intelligent Beauty, a commerce site which generated more firms, among them JustFab and DermStore.

TechStyle is striving to hit 700million dollars in profits; the firm has 4.5 million members and 2,000 employees. A new product line will launch in 2018. The last major of the company raise was in 2014, making the sum of funds raised at 295 million dollars and a valuation of more than one billion dollars.

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