Adam Goldenberg’s Opinion On JustFab’s Change Of NameDecember 3, 2016 - Author: steph - No Comments
The recent decision to change JustFab’s business name to TechStyle Fashion Group has left many people with questions. The public has been seeking to know the reasons behind the bold move. JustFab Inc is known for owning many fashion companies and brands. Some people believe that this change may affect the company’s performance. Recently, Adam Goldenberg visited CNBC to clarify on the decision to change the company’s name. He is the chief executive officer of TechStyle Group.
The CEO said that the new name indicates the company’s love for textile and wordplay. Several high levels meetings were organized to discuss the potential effects of changing the name. The management team agreed that its impact would be minimal since the company would still be selling its products under its respective brand names. The team recognized the many operational decisions that the company has undertaken to enable it become a successful global e-commerce company. Currently, the company enjoys a large VIP membership base made of over 4 million clients from around the globe. Adam reiterated that the change of name would not affect the company’s vision for continued growth.
Goldenberg also reflected on the JustFab growth for the past five years. JustFab started out by selling women’s shoes. Over the years, the company has increased the number of its brands to five. They include JustFab, Shoe Dazzle, Fabletics, FabKids, and FL2. The company offers a wide range of products, including shoes, bags & accessories, jewelry, and clothing. Moreover, it has been able to open five offices in Europe. Its products are available in over ten countries. TechStyle is more than a fashion company. It is involved in developing promotional contents and videos. These services have enabled the company to broaden its sources of revenues and operate as a going concern.
Adam Goldenberg’s leadership has not only been critical to TechStyle’s success, but also Fabletics, which is one of his most successful brands. According to a recent article on Forbes, the business is currently worth over 250 million dollars. Like JustFab, Fabletics is using the subscription-based mechanic to sell active wear to its clients. This strategy has proved to be successful as it is convenient and cheaper to customers.
About Adam Goldenberg
Adam Goldenberg is an entrepreneur and fashion business guru. Together with Don Ressler, they founded JustFab and led the company to become a global e-commerce company. Adam is also the founder of Gamers Alliance and Fitness Heaven. He sold both companies. At TechStyle, he is in charge of operations undertaken by the various brands, which are owned by the firm.
Categories: Business Leaders