Fabletics is one of today’s top- leaders in the fitness fashion industry. Don Ressler and Adam Goldenberg collaborated and joined forces with actress Kate Hudson back in 2013 and launched the online shopping store. The idea for the store was born from the trio recognizing there was an aperture among the statistics of fitness apparel marketing. After doing more research into this phenomenon, they discovered that high-end apparel only had the market. Possessing the good business acumen to see an opportunity to provide affordable, well-made active wear, Ressler and Goldenberg created the Fabletics brand and it has been going strong ever since.
The Fabletics team employs many great marketing strategies to further their products and company. Kate Hudson takes an active role in both the design and marketing aspects of the company. One of the most innovative strategies she is taking advantage of in promoting Fabletics is crowdsourcing. Through crowdsourcing, businesses can petition for information and ideas from a mass of people to create material, commodities or capital. Product reviews that are being left by consumers after a purchase vastly affect the success of it. Consumers place great trust in these reviews and this can be put to great use by many in the marketing industry through the analysis of the data left.
For Kate Hudson, establishing the Fabletics brand has been a successful means of exercising different market strategies to increase sales and revenues through ascertaining what works and what doesn’t work. The power of the crowd, as an example, has proved to be a winning long-term approach. Fabletics has set themselves apart from other leisure brands and retailers in the industry through data analysis, superior customer service, and attention to design detail in regard to what the customer is looking for and making the purchase readily available through e-commerce. In current financial standing, the retail giant has a $250 million profit return and upsurge increasing by 43 percent. Fabletics has an astonishing amount of registered members that numbers well over a million. Personalizing the shoppers experience by offering customized designs through a survey analysis has certainly contributed to the increase of customer sales.
Athletic wear, such as yoga pants that are the latest fashion trend for women, are now being regarded as a fashion statement and being worn out in public as opposed to the home or gym. Comfortable apparel combined with high quality style is what most consumers are looking for and Fabletics has incorporated this into their designs. Statistics show that in 2016 over forty four billion dollars was spent on leisure and fitness clothing. Market analysts attribute this to the fact that millennials are now contributing more to the health industry such as vitamins, innovative products and apparel. As a result of this, Fabletics has had the good fortune of opening up 18 retail store branches all over the United States. With new designs being released every month, Fabletics is sure to see an even larger yield in both profit and annual sales.