Adam Goldenberg and Don Ressler are both the Co-Founder and Co-Chief Executive Officer of TechStyle Fashion Group. The company was founded in March 2010, and its been highly-successful within the fashion industry. As entrepreneurs, they began with a start-up company, formerly known as JustFab Inc., and Don Ressler branched out with $33 million received from venture capital. In 2012, with steady growth margins, they were able to secure an additional $76 million.
This led the company to forge ahead in October 2013 to create Fabletics.
Fabletics was established as a company to change the dynamics of the fashion’s active-wear customer. Don Ressler and Adam Goldenberg saw a gap within the industry which did not offer the same style and comfort of luxury brands and still remain at a reasonable consumer price point.
There are many companies that confuse marketing strategies with tactics, however, Don and Adam have a completely different approach to the fashion industry and with the market sector the company continually tries to reach. They believe that strategies are those few significant ideas which determine what will move the industry forward. The number one strategy of TechStyle’s data-driven marketing has been to focus exclusively on the customer; their way of living and consistently determining what will be of value to them.
The company mission is connecting people to a common purpose for fashion. In today’s world, this also means having both a core of value and price, which is something Don and Adam continually strategize to achieve for satisfying their customers.
Don and Adam have an engaging type of leadership approach; believing leaders really have to ask the hard questions and really listen to the consumer. Their approach has gained them an impressive and very lucrative business model, while expanding their portfolio. Both entrepreneurs are very well-known and respected for their strategic business sense and brand-building abilities.
In 2015, Fabletics introduced its men’s active-wear line, which was launched as FL2.
With TechStyle Fashion Group’s continued success, the company and its leadership apparently know the people closest to their bottom line very well. To date, the company has reached over $500 million in sales, which in any industry is excellent for their investors.
Their Fabletics active-wear line accounted for $150 million in those sales, showing that it has an even greater opportunity for further expansion. Don and Adam are constantly choosing value, ideas and innovation as their best marketing strategy in reaching the customer’s needs. Read more about Don Ressler’s successful decisions in TechStyle’s latest blog post: Happy in El Segundo: TechStyle COO Anton Von Rueden on the Perks of Life in the South Bay