Giant online fashion retailer, JustFab recently announced a change of name to TechStyle Fashion Group. The company’s co-founder Adam Goldenberg asserts that the change of name was long overdue. It is a reflection of the company’s rapid growth, intention to transform the fashion industry, and evolution. The new corporate identity adopted by JustFab captures the firm’s origins, which are rooted in technology. In addition, it heralds its transformation from a single ecommerce platform into a global brand with over 4 million subscribers.
TechStyle Fashion Group brings together four notable brands, which are ShoeDazzle, FabKids, Fabletics, and JustFab. The corporate rebranding exercise comes at a time when the retailer is seeking to solidify its market share on entrepreneur.wiki. Merging all its subsidiaries under a single platform will help TechStyle Fashion Group to reimagine the fashion business through vertical integration and personalization. There will similarly be more control of the company’s aspects starting with manufacturing and distribution to software development and marketing.
Delivery of On-Trend Fashion
Adam Goldenberg points out that when the co-founded JustFab with Don Ressler, they wanted to change the way customers shop for clothes. Therefore, they started the membership subscription model that delivers fashionable clothing at a remarkable value. He concedes that the company’s success has mainly been driven by personalization and date utilization. The new corporate identity full encapsulates the principle of what the company has snowballed into. It is the epitome of the popular phrase, “Silicon Value Meets Fashion Avenue”.
The Road to Success
Barely three years after its formation, the company was already a force to reckon with in the online fashion retail market. In August 2014 for instance, it raised $85 million in venture funding from investments firms such as Shining Capital and Matrix Partners. Subsequent rounds on hudl.com saw JustFab attract funding to a tune of over $300 million. What’s more, its market valuation jumped to more than $1billion. Despite the success, Goldenberg doesn’t see Ressler and himself as unicorns.
Goldenberg instead attributes the success to the company’s employees who have been wholly dedicated to making clients happy. The company still maintains its culture despite the massive transformation that it has experienced over the past few years. Despite the prevalence of unicorns in the corporate world, Goldenberg maintains that they are unfazed with all the existing attention. His focus is on building a great brand that mainly focuses on retail. This he says, is the only way the company can remain relevant as the more consumers opt for online shopping at http://video.cnbc.com/gallery/?video=3000543492.