Adam Goldenberg is the well known co-CEO of fashion empire JustFab and Fabletics, the brand taken to global success with the fuel of founder and front woman Kate Hudson. JustFab Inc recently underwent a purposeful re-naming and is now TechStyle Fashion Group. This move was highly intentional and purposely brings the company’s digital-first business model to the absolutely forefront of the company: within the name itself.
Goldenberg’s company, Fabletics, was founded as a digital first platform to provide high quality athletic apparel to women at a membership style price model that was affordable without sacrificing style. The company has skyrocketed int he three years since its founding from a startup seeking funding with zero users, to a fully funded company that is now showcasing positive cashflow and able to boast over 400 million users across the world. Goldenberg was recently interviewed on CNBC where we spoke about his passion and vision for his company’s continued growth. He believes in the opt-in pricing model and most of all he wants to provide a great product that consumers really love. He cited that among his user base, most people order on average of three to four times a year and while he prides himself on being a digitally versatile company, in the end it is all about the product being one that is truly loved and valued.
In fact, the company received a $1 billion valuation in 2014 and investors looked to the brand as the next big thing in digital-forward fashion. By utilizing big data and metrics to provide the consumer with what they want, Goldenberg states that he was able to predict market demand within 95%, meaning that there is less waste of inventory. That savings, in turn, can be passed on to the consumer.
2017 promises to be a big year for Goldenberg, TechStyle Fashion Group and Fabletics. Fabletics recently announced it would be expanding its size offerings to meet the demand of more people that wanted to take advantage of the quality, trendy offerings Fabletics has.
Goldenberg has a vision of how technology should meet the fashion runway and both should work together. As early as 2006 he founded his internet brand incubator Intelligent Beauty and four years after launched JustFab, now TechStyle. In an article on the 3 LA CEOs you Need to Know, he stressed the importance of transparency in his companies in all of his companies and the return value that comes from listening to the customers needs, reaching them through digital platforms and consistently putting those needs in focus.