Fab Shoes, Fab Clothes, Fab Price!
JustFab Inc started as a membership only online shopping experience for women. They have now expanded their company by creating sites for men’s athletic wear (FL2) and children (fabKids) as well. Their women’s athletic line goes by the name fabletics which has 6 physical locations with plans to increase that number to around 80 by in the next three to five years. The company was created in 2010 by Adam Goldenberg and Donald Ressler and now have over 4 million VIP members, with no signs of slowing down.
In 2014 JustFab was valued at $1 billion with only a $250 million start up, making the company an unicorn moniker. They are expected to revenue $650 million this year. Not only is the site available in the United States, but also in Spain, Germany, and Canada.
Customers pay the monthly fee to shop and receive shoes, clothing, and jewelry at a discounted price.
Monthly subscriptions can be skipped by the 5th of each month if a customer plans not to purchase that month. If they pay the membership and still do not purchase, that membership goes as a credit toward a future purchase.
Todd Tappin, the new finance chief and president of Just Fab Inc, recently served as chief operating officer and chief financial officer at Rubicon Project. He is also a former managing director for the Gores Group, giving him experience with young start up companies.
The Style Network premiered a show about JustFab Inc in 2013 titled “Kimora: House of Fab.” Not only did the company gain popularity from the show, it also gave the viewers an inside look at how the offices of JustFab Inc were run. Everything from the Creative Director to merchandising was aired on the show.