Don Ressler and Adam Goldenberg are probably the last guys you would imagine could start and run a successful fashion company. Nevertheless, the establishment of JustFab is evidence that these co-CEOs are out to modify the fashion e-commerce. In 2014, JustFab was worth 1 billion USD.
Adam and Don are very good at spotting trends, growing businesses and developing industry number one brands, and an all this is combined with fun and passion that is hardly in existence in a sector that carries itself with too much seriousness.
Adam established his first ever company, the Gamers Alliance, when he was on 15 years old, that he sold after three years to Intermix Media, the MySpace mother company, in the year 1999. He abandoned secondary school and joined Intermix as theStrategic Planning Vice President. At 20 years of age, he was made the COO (Chief Operating Officer). Adam became the most juvenile COO a popularly traded company ever had. He later met Don, a brand building expert and entrepreneur who had also sold his company, FitnessHeaven to Intermix Media in 2001. The two just clicked and became big friends.
In 2005, News Corporation acquired Intermix, so Adam and Don decided to start and run their independent company. After one year of intense research, they formed Intelligent Beauty, an incubator platform for e-commerce brands. They established numerous beauty and health brands as the market leaders and began conceptualizing a new form of online shopping that would create a personalized experience. Their plan was to incorporate a leading fashion with social interaction and make its price affordable.
To exploit this untapped opportunity, Don and Adam were guided by the fact that, for a fashion line to prosper online, it must be engaging, highly social and fun. The two friends prepared themselves for the Intelligent Beauty’s major expansion, and they created a personalization fashion platform, hired style designers, and consultants, and built out an affordable and attractive subscription model. This resulted to JustFab, a fashion community where its members receive a wide selection of handbags, shoes, and other accessories based on their taste every month for 39.95 USD.
“Not only does JustFab ship out bags and shoes monthly, but we also change the model of subscription to keep it highly engaging,” said Adam recently on CNBC. “We guide women on how to match bags and shoes with their clothes by offering style boards as well as demonstrating complete stylish appearances on models,” he added. According to Don, JustFab, now TechStyle, aims at building women’ confidence through their wardrobes and provide the best fashion and style tips.
Today, TechStyle stock bags, shoes, and accessories of all colors and sizes. They have three main branches namely; ShoeDazzle, Fabletics, and FabKids, and serve millions of clients across the continent and generate billions in revenue. http://rgtadvisors.com/bio/adam-goldenberg/