It’s no surprise that social media has a big impact on a company’s success. If a company has the right social media presence, it can easily outperform powerhouses that have dominated the markets for years. That’s exactly one of the strategies used by Fabletics to find success in the activewear market.
When people used to think activewear, they thought of brands like Nike and Under Armour. Now, Fabletics is one of the first names they think about. Over the last four years, Fabletics grew over 200 percent to a $250 million company. It’s one of the most successful brands that’s a part of the TechStyle Fashion Group conglomerate.
Activewear is a growing trend that’s most popular with millennials. Millennials are more health-conscious than their parents and love being able to go from the gym to running errands. Activewear perfectly combines the functionality of fitness wear with the comfort and style of everyday attire.
Fabletics’ use of social media and online awareness attracted millions of millennials. To date, Fabletics has over one million paying members and more than 20 million followers on Twitter. That online success also spurred the company to open 18 retail stores nationwide, and they plan on adding more in the coming years.
To succeed in the future, Fabletics will have to rely on the power of the crowd. The power of the crowd is a relatively new consumer behavior, but Fabletics is capitalizing on it perfectly. Today’s consumers don’t trust traditional advertising and marketing like their parents and grandparents did.
To more digital consumer uses online research to determine final purchases more than often. In fact, most studies show that people rely on online reviews more than anything. They even trust these online reviews as much or more than personal recommendations from people they know.
Fabletics found success by leveraging this new consumer behavior in their favor. When customers feel they can trust the brand in today’s society, the customer loyalty is off the charts. Using a review-centric strategy is the best way to succeed in any industry these days. Companies that don’t embrace the power of the crowd don’t last long.
The trust between companies and customers was broken by greedy companies who cared more about profit than selling quality products. According to most, the power of the crowd is only growing. It’s showing no signs of lessening or going away anytime soon.
Don Ressler and Adam Goldenberg are the founders of the famous clothing, accessories, and beauty organization TechStyle Fashion Group. The establishers of the now renowned fashion company knew nothing or very little about fashion and the industry, but they had the passion and a keen interest in knowing what their target consumers needed. For Adam and his business partner Ressler they have been involved in the business for an extended period since they were teenagers. At the age of 15, Adam Goldenberg had his company an advertising network design for gaming website firm known as Gamers Alliance. In 1999 Intermix bought the organization. Adam did not complete his High School education, and he was employed by Intermix as the Vice President of Strategic Planning. He was very determined and hardworking, and he climbed the career ladder becoming the Chief Operating Officer only at the age of 20.
Don Ressler was also the owner of FitnessHaven.com a fashion company which was also acquired by Intermix and that is he also joined the firm. During the time he was entering Intermix, Ressler had achieved a lot including raising capital for various online companies. Together Don and Adam served at Intermix and with their friendship as well as the experience they gained in the company they established Intelligent Beauty in 2006 which was an e-commerce company. The two partners went ahead to create other online organizations which were successful and which led them to realize that there was the need for trendy fashion which most consumers did not have access.
Adam and Don went ahead to establish Justfab. Justfab was designed to be an online membership group which delivered personalized athletic clothing as well as accessories to their members each month. Apart from distributing sports clothes, the two went ahead to create a place where they could demonstrate to their clients how to mix and match their accessories as well as clothing for the sake of building their confidence. In 2016, Justfab rebranded and changed their name to Techstyle. The renaming of the fashion group also changed the view of the firm, and it is now described as a place where “Fashion Avenue meets silicon valley.” Adam and Don are fully committed to their company, and they do not only focus on making money, but they are also entirely responsible for managing a successful corporation. Through Techstyle, Don and Goldenberg are involved in community activities including the Cinderella project which offers gowns to low-income students. Tech style is founded on technology.
Find out more about Adam Goldenberg: http://www.techstyle.com/about-us/leadership/