With the launch of TechStyle Fashion Group, JustFab revealed its new corporate identity. TechStyle maintains its original roots in technology while evolving from an online subscription platform to a global brand. Through its brands, FabKids, JustFab, Fabletics, and ShoeDazzle, TechStyle Fashion Group have over 4 million VIP members.
TechStyle embraces the data-driven marketing strategies to extend its addressable market. For the past three years, TechStyle’s membership has risen to over 10 million. Don Ressler, the co-founder of TechStyle envisions to transforming the shopping experience by offering on-trend fashion at incredible prices. Over time, TechStyle has evolved from a brand-building to a data-driven and personalization enterprise. By managing the entire business cycle on vator.tv, TechStyle has taken over the fashion industry. Techstyle’s new corporate identity succeeds a growth strategy demonstrated over the last six years. In fact, the firm has become one of the leading online fashion retailers, which has its design, manufacturing, and distribution models. Through merchandizing and subscription, TechStyle Fashion Group is estimated to surpass its targeted $650 million in net revenue by close of 2016.
Funding history of TechStyle Fashion Group
In 2013, TechStyle Fashion Group raised a second round of funding, raising $85 million from Technology Crossover Ventures, Shining Capital, and Matrix Partners. The funding brought the total capitalization to $250 million. Since the evaluation was quite impressive, many investors became interested in investing in TechStyle Fashion Group. Speaking during the launch of TechStyle, Don Ressler noted that the consolidated financial performance would be instrumental in negotiating better deals with investors and suppliers. Furthermore, the firm would be able to invest in additional ventures to support growth and expansion. Besides, TechStyle intends to launch a West Coast distribution channel to extend its addressable market according to Don Ressler. TechStyle’s investors look at a possibility of building a global brand worth of $3 billion.
Why is TechStyle located in El Segundo?
Although TechStyle may have been founded in El Segundo by accident, its stay is purposeful. After a brainstorming session in a living room in Manhattan Beach, Don Ressler and his business partner, Adam Goldenberg landed on the idea of forming JustFab, an online subscription fashion retailer. After successful two years, Ressler and Goldenberg decided to expand their services out of South Bay area. As a result, they relocated to El Segundo as it was near an international airport, close to a beach, and with a spacious yard ideal for expansion.