While it might be a temptation to cast the Just Fab marketing strategy as a variation on the traditional cable subscriptions or magazine subscriptions of yesteryear, a closer look reveals a substantial added value in having a lively interaction with its patrons.
The customer is immediately pulled into a kind of partnership with the designers and stylists who set the trends. They are invited to select items they find to be most reflective of their own style, and within the first few minutes they are making choices.
This kind of interaction is unlike any sort of cable or magazine subscriptions. Having as their icons – rather than mere celebrities – a successful actress best-known, perhaps, for her award-winning and memorable performance as Penny Lane, in Almost Famous; and who is also a popular self-help author (Pretty Happy: Healthy Ways to Love Your Body) is even more significant. as an added value.
That Kate Hudson is the daughter of Oscar-winning actress and author (A Lotus Grows in the Mud; 10 Mindful Minutes) is an extended value, since Goldie Hawn is known for her vitality, and for her (and her daughter’s) practice of mindfulness and well-being, as a part of the Buddhist lifestyle. Founded in 2010, Kate Hudson’s company, Fabletics – famous for its lines of yoga pants and other workout fashions – reached it’s millionth subscriber in 2013.
Fabletics is an anchor of the brands now known collectively as TechStyle, as described by CEO Adam Goldenberg last week on CNBC; and in an LA Times article last month, “JustFab heads toward IPO even as other subscription start-ups struggle,” Shan Li notes that JustFab recently achieved “unicorn” status, now valued at $1 billion, having turned a profit for the first time in 2016; but more importantly that an executive, Todd Tappin, especially known for his skills relating to initial public offerings (IPOs), had now been brought in as CFO.
Adam Goldenberg acknowledged as much, noting that with the funding needed to move revenue from $505 million last year to a targeted $650 million next year “you typically take this company public at some point,” he said.
Learn more about JustFab: http://www.businessinsider.com/justfab-becomes-techstyle-fashion-group-2016-8