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