As fashion shopping becoming intertwined with major technology, it seems only fitting that some companies may be looking to change the way they do business, and possibly even their brand. That’s what’s happening at JustFab where CEOs Adam Goldenberg and Don Ressler have announced the name change to Techstyle Fashion Group. Goldenberg and Ressler felt this name change was necessary because JustFab is now including big data as part of their customer shopping experience. Data analytics are starting to become a major trend with companies out there who want to customize a user’s online shopping method, and JustFab has started enriching their data use for this.
JustFab was started by Goldenberg as primarily a women’s trendy clothing outlet, and most of their sales today still are coming from there, but they’ve also made acquisitions along the way of companies like ShoeDazzle, Fabletics, FL2, FabMen and FabKids. JustFab’s merchandise has gotten attention because it’s much cheaper than fashion lines like Ralph Lauren or Giorgio Armani, and with membership and VIP point systems customers can find some great discounts here. Ironically enough, Goldenberg knew very little about fashion when he and Ressler started the company, but their skills with running a business and marketing have come in very handy.
It began for Goldenberg when he was still in high school. At only 15 years old, he started his first company, Gamer’s Alliance. Starting this company is what led Intermix Media, the founders of MySpace to hire him on their team. Adam Goldenberg became the Chief Operating Officer at Intermix Media, and while working there he and another executive started working together on building subsidiary companies. That other executive was Don Ressler, the founder of FitnessHeaven.com. Goldenberg and Ressler wanted to add an e-commerce division to the up and coming MySpace social network, so they did just that with Alena Media. It was turned down by News Corp when they bought out Intermix Media, so Goldenberg and Ressler left the company.
After leaving the company, the two men started Intelligent Beauty first, and under that company they started selling health and beauty products. But they decided fashion was becoming their main interest, so they founded JustFab in 2010. Josh Hannah at Matrix Partners liked the way the company was operating, so he began the first of justFab’s venture capital funding. By 2014, the company had raised enough venture capital and revenue to be valued at over $1 billion. https://twitter.com/adamgoldenberg?lang=en
JustFab, also known as TechStyle Fashion Group has become an all-inclusive fashion line with sizes for all women. Adam Goldenberg and Don Ressler founded this company back in 2010 with the goal of changing the way online fashion shopping is done, and now they want all women to enjoy wearing company apparel. JustFab is mostly a women’s fashion line, but there is a men and children’s subsidiary, and the company also owns ShoeDazzle and Fabletics, a women’s athletic wear company that actress Kate Hudson has endorsed. In 2013, JustFab became a “unicorn” or billion-dollar enterprise that became cash flow independent.
Goldenberg and Ressler are marketing gurus and entrepreneurs who ventured into the fashion arena with little knowledge of its terminology, but their tech-friendly ideas and sense of adventure helped them in their endeavors. They actually met while both working for MySpace’s parent company Intermix Media. Adam Goldenberg had come to Intermix Media after building Gamer’s Alliance, a gaming advertising network that pointed gaming enthusiasts to some of the most popular game websites. He became the youngest Chief Operating Officer at Intermix Media working for a publicly traded company. Don Ressler had come to Intermix Media after they bought his company, FitnessHeaven.com, and he and Goldenberg decided to start building brands together.
They had built their first company, Alena Media in the early 2000s and it became a major income source to Intermix Media. They left Intermix Media in 2005 and started another company, Intelligent Beauty. Under this company they started several health product and cosmetics brands, and then decided to take the fashion world by storm. After presenting their ideas to several fashion gurus and venture capital firms, JustFab was formed and they got an infusion of capital from Matrix Partners and several others. Not too long ago, they started opening up physical retail stores for JustFab and have plans of opening more across the nation in the next few years. They decided to rename the company to TechStyle Fashion Group because they had started integrating big data usage into the online shopping experience. http://brandettes.com/interviews/don-ressler-of-fabletics/
Adam Goldenberg is a business man and the co-CEO of Just Fab. He started Gamers Alliance at the age of 15 years. This was his first company. He later sold the company to Intermix Media (MySpace parent company) in 1999. Adam left high school and went on to join Intermix to serve as the Vice-president of Strategic Planning. Adam became the Chief Operating Officer at the age of 20 years. This made him become the youngest COO of a company that was publicly traded. Adam met with Don Ressler who later became his business partner at Intermix. Don was also an entrepreneur and he had sold his company. The Endeavors of Don led him to produce more than $billion in sales. He had also raised $100 million and more in capita for many different internet companies.
Adam is a venture partner at CrossCut Ventures Management, LLC. He serves as its advisor. Adam was also the president of Brentwood Cosmetics, LLC. He has gained six years of experience in product development, product management, and internet marketing. Adam is the co-founder of Alena media, Inc. where he launched Hydroderm. Adam Goldenberg collaborated with Don Ressler to come up with brand ideas. Adam co-founded Intelligent Beauty with Don Ressler. They formed the Matrix Partners and later co-founded Just Fab. Just Fab is the mother company to fashion brands like Fabkids, Fabletics, and ShoeDazzle. The company has employed over 2000 employees. It has made annual sales of $650 million since 2010.
Adam says that the reason why JustFab has had tremendous growth is because the company is creating brands online and in categories of high growth. He says that the membership model is the most revolutionary thing about the business. Adam is motivated by working with people who are passionate and smart. He says that JustFab is committed to deliver the best to their customers and to offer products that exceed their expectations.
Adam says that being an entrepreneur has taught him about team empowerment and the great benefits of partnership. Adam says that Starting out in his business ventures was not easy. Determination and hard work have made him successful. Adam has been a good example that age does not matter when it comes to entrepreneurship and what you want. Adam started out at the age of 15. He has grown over the years to become a significant force behind the current fashion e-commerce. He has co-founded various businesses which have all generated significant profits.