TechStyle Fashion Group prides itself on being a successful online subscription retailer in the fashion segment. The company deals with a variety of items ranging from jewelry, shoes, denim to handbags. TechStyle has a reputation for providing a personalized shopping experience, which relies majorly on the members’ suggested fashion tastes and preferences. Additionally, it operates as a parent company to a portfolio of other online subscription brands including Fabletics, FL2, ShoeDazzle, JustFab, and FabKids.

 

Background

 

The background story behind the inception of TechStyle Fashion Group mostly revolves around the company’s co-founders, Adam Goldenberg and Don Ressler. Adam ventured into the business world at an early age by founding his first company, Gamers Alliance. The potential and success of the company led to its acquisition in 1999 by Intermix Media. In turn, Adam became Intermix’s VP of strategic planning before being promoted to company’s COO.

 

For Don Ressler, his involvement with intermix started after the company acquired his website, FitnessHeaven.com, in 2011. While working at Intermix, both Ressler and Goldenberg became friends. Their friendship stood firm even after the News Corporation bought Intermix Media. This acquisition saw both friends leave the company to establish their own venture, which later turned out to be Intelligent Beauty. Through Intelligent Beauty, Ressler and Goldenberg created several successful businesses /brands.

 

JustFab’s Financing

 

The birth of JustFab, an online subscription clothing brand, propelled paved the way for other TechStyle brands. In 2011, Matrix Partners, a venture capitalist company, funded the membership-based company with $33 million. Later in 2012, JustFab received an extra $76 million in funding from several companies such as Intelligent Beauty, Rho Ventures, Matrix Partners and Technology Crossover Ventures.

 

To boost its expansion internationally, Don Ressler and Adam Goldenberg led JustFab into its third round of financing, which resulted in $40 million. The company also conducted another round of funding whereby it received a whopping $85 million. This extra round not only pushed JustFab’s capitalization to $250 million but also its value to $1 Billion. As a result, JustFab joined the ranks of unicorn companies.

 

In 2016, JustFab rebranded itself by taking up a new name, TechStyle Fashion Group. The renaming of the company was driven by the desire to emphasize the company’s foundation in technology. Shawn Gold, the corporate marketing officer, was the first to give a hint about the new name.

 

TechStyle’s brands, especially Fabletics mostly relies on data-driven marketing. In fact, it has been gathering data from about 1.2 million members. The data has played a huge role in giving the brand a competitive edge over its competitors. https://onmogul.com/adam-goldenberg