Fabletics is an activewear company and they have been in business since 2013. In that three year time, they have built themselves into and $250 million company and they are projected to grow even more. Even with huge competitors such as Amazon, who controls about 20% of the e-commerce fashion market, Fabletics seems to have found the right formula to make them stand out and be successful.
Co-CEOs Don Ressler and Adam Goldenberg, along with spokesperson Kate Hudson, began Fabletics in October of 2013. The idea for the company came from personal experience. Don Ressler and his wife one and wear a lot of athletic wear. They noticed that there was not a lot of good quality items at decent prices. There was also not a lot of style variety with active wear clothing. By starting Fabletics, this was all about to change.
With so many activewear companies competing out in the market, Fabletics needed a way to stand out from the competition and have a way to be successful. Having a good quality product and a decent price was not longer all that was needed for a company to sell their inventory. Customers want more and are willing to shop around to places where they can get more.
From the beginning, Fabletics has always done their research. Being a company that functions mostly online, they need to know what their customers want and what their habits are. Fabletics is a subscription-based company and this allows them to customize the shopping experience that each customer has.
This tracking has also spilled over into the physical stores that Fabletics has set up. Physical stores are a more recent addition to the companies growth. Almost half of the customers shopping in the physical stores have already shopped online with Fabletics and are loyal to the brand. By knowing what their customers want, the stores can be set up in a way that will draw them in. The local areas also play into this. Having knowledge about the local area and what interests the customer base will also play into how the physical stores are set up.
Any company that is looking to sell their products knows what a huge competitor Amazon is. No company can survive without figuring out a way to set themselves apart, even a little, from the huge presence that Amazon has. Even though Fabletics has been in business only a few years, they seem to have found the right combination to sell their products, have a loyal customer base and continue to grow their company at huge rates. Fabletics has found their stride and their future looks very bright.