TechStyle Fashion Group, formerly JustFab Inc., is an online subscription fashion retailer that carries selections of shoes, handbags, jewelry, and denim. It offers a personalised shopping experience based on members' indicated fashion preferences.
TechStyle Fashion Group is the parent company of a portfolio of five online subscription service brands including JustFab, FabKids, ShoeDazzle and Fabletics.
Maps, Directions, and Place Reviews
History
The company was founded by Don Ressler and Adam Goldenberg in March 2010. Kimora Lee Simmons joined JustFab as President and Creative Director in September 2011.
TechStyle (operating under the name JustFab) received $33 million in funding from US venture capital firm Matrix Partners in 2011. In 2012 the company received an additional $76 million from Matrix Partners, Rho Ventures, Technology Crossover Ventures, and Intelligent Beauty and expanded its operations internationally to Canada, Germany, and the UK.
In January 2013, TechStyle, then JustFab, acquired children's fashion subscription company FabKids. Despite the similarity in their names, there was no previous association between the two companies.
Celebrities who have released collections through TechStyle sub brand, JustFab include singer-songwriter Avril Lavigne and YouTube beauty gurus Elle and Blair Fowler.
A television show about the TechStyle sub brand JustFab and Simmons titled "Kimora: House of Fab" premiered on the Style Network in January 2013. The show covered daily life at the JustFab offices, Simmons' role as president and creative director, and the duties of the company's marketing, merchandising, and public relations departments.
TechStyle continued international expansion into Spain and France after acquiring The Fab Shoes in May 2013.
TechStyle (then JustFab) acquired rival shoe subscription service ShoeDazzle in August 2013, but the two companies continued to run as separate brands.
In September 2013, TechStyle's CEOs Adam Goldenberg and Don Ressler announced that the company closed $40 million in its third round of funding to accelerate its already-fast international growth and enter new product categories.
In August 2014, TechStyle (then called JustFab) closed an additional round of funding for $85 million which was led by Passport Special Opportunity Fund and included participation from existing investors Shining Capital, Matrix Partners, and Technology Crossover Ventures. The additional round of funding brought the company's total capitalization to $250 million.
In 2016, JustFab launched an "all size" campaign to promote that it's ready-to-wear collection would now include sizes XS to 3X, 24-34 and 16W- 24W.
Fabletics, an online athletic wear retailer, was founded by Adam Goldenberg, Don Ressler and Kate Hudson in July 2013. In 2015, Fabletics was TechStyle's fastest growing label. As of April 2016, Fabletics has 6 brick and mortar locations and announced plans to open 75-100 new stores over the next three to five years.
Membership
Membership costs $39.95 per month and is automatically conferred upon making a purchase. The registration process requires members to complete a survey regarding their fashion preferences. At the beginning of each month, a "personal stylist" selects items based on these preferences, and the member can choose one of the selections, request new options, or skip the month altogether without charge.
In December 2011, JustFab reached 4 million members. By January 2013, this number had grown to 10 million.
Criticism
The company's business model and credit card practices have been criticized as deceptive.They deduct money from account without notifying users. In October 2011 a national class action lawsuit was filed against Just Fabulous, Inc.
Source of the article : Wikipedia
EmoticonEmoticon