Don Ressler is what you’ll comfortably call a serial entrepreneur, he starts a business, makes it thrive then sell it before starting another. His first business was FitnessHeaven.com, which he sold to Intermix Media before partnering with Adam Goldenberg, himself a worker for InterMix, to found AlenaMedia, AlenaMedia operated as a subsidiary of Intermix, being its online performance advertising and electronic commerce business. News Corp came in and bought InterMix, and with it, Don Ressler and Adam Goldenberg found their subsidiary swallowed up and ignored by their new bosses. Frustrated, the two quit and together with other equally disenchanted employees of AlenaMedia, formed Brand Ideas.
Branding In Business
Brand Ideas first product was DERMSTORE, an e-commerce brand selling cosmetic, it was an online brand building idea that incorporated a direct to customer approach. The businesses profitability saw them get $ 43million funding from Technology Crossover Ventures. In 2010, Dressler and his team launched JustFab, an online e-commerce fashion site, this quickly attracted a $33 million input from Matrix Partners, and the site had 3million subscribers in Europe alone by the year end in 2013. This large subscription was partly due to the fact that Justfab bought out other e-commerce businesses such as Fabkids, which sold children’s clothing and had a 500000 strong subscription, they also bought out Fabshoes, adding to their numbers. After receiving $40million in funding from Series C, Don Ressler, his partner Adam Goldenberg approached Kate Hudson and together they entered into the active wear market, selling women athletics gear, they named the new venture Fabletics.
Any woman would like to look good at all times when engaged in any activity, athletics is no option. Women who were running or athletic enthusiasts faced one problem, the available athletics gear and clothes were fashionable but expensive or cheap, affordable but trashy. Fabletics filled this market gap by coming in with stylish, affordable and high quality gear and clothes. Their gears were functional, fashionable and cheap, allowing women to look and feel good without spending a lot of money. Kate Hudson became the face of the brand.
Fabletics success can also be attributed to the fact that they have a vibrant online presence with strong appeal at the grassroots level. Their innovative discount system where one gets discounts on all purchases upon subscribing to the VIP club at $50 a month has pushed their sales. Fabletics also employed an online quiz system where a shopper gets to answer questions on what she wants to buy and gets an array of goods to choose from based on her answer has not only made shopping at the site fast, but also gives an unforgettable customer experience.