Adam Goldenberg and Don Ressler had their hot fashion retain company JustFab renamed to TechStyle Fashion Group this last year because they started using data analytics in the customer shopping experience and wanted the company to reflect the new trend. But now they’re going further by turning it into an all-inclusive brand. Goldenberg felt this was necessary because while the company has had female celebrities and models endorsing its brand, he wanted women of all sizes to feel empowered by the brand.
Adam Goldenberg joined the fashion industry in 2010 when he and Ressler launched JustFab, but before that he was actually a marketing and ecommerce guru for MySpace and its parent company Intermix Media. Intermix Media had hired Goldenberg because he had built a small marketing company at only age 15 known as Gamer’s Alliance. Goldenberg moved out to Los Angeles and became Intermix Media’s Director of Creative Strategy before becoming the company Chief Operating Officer. He and Don Ressler met during this time and decided to build a sales division out of MySpace known as Alena Media and also founded the brand Hydroderm.
Read more: TechStyle’s data-driven fashion – CNBC Video
Goldenberg and Ressler didn’t stay with MySpace because News Corporation, the parent company to Fox News and the Wall Street Journal bought it out and brought in changes that Goldenberg didn’t like. So they left and started a company out of their own homes known as Intelligent Beauty at http://www.entrepreneur.wiki/Adam_Goldenberg. In time Goldenberg and Ressler were making their own profits and had plans to launch a fashion retail group based online. It was a new field that neither Goldenberg nor Ressler knew much about, but they began soliciting advice from their friends in Hollywood.
After sharing their ideas and hosting different fashion functions, JustFab was ready to go and all it needed now was funding and publicity. Adam Goldenberg and Ressler had little marketing to do after model Kimora Lee Simmons promoted the company via twitter and adopted its apparel. The funding came from all different kinds of venture capital investors including Josh Hannah of Matrix Partners and Passport Capital on Vator.tv. Soon the company gained over $285 million in capital and by late 2013 sales revenue had turned it into a “unicorn” or billion-dollar valuated company. JustFab also bought out side branches such as ShoeDazzle, Fabletics, FabKids and a men’s brand.