If you do not know the name Adam Goldenberg by now, then you have an idea of the brains behind the rising franchise JustFab. Built in LA recently named him as one of the top 3 LA CEOs you should have on speed dial. And CNBC was recently wowed by his ingenious approach in marketing his cloth line.
Interview with CNBC
Adam is the co-owner of JustFab alongside his campus friend and long-time business partner Don Ressler. In his interview with CNBC, Mr. Goldenberg officially announced that JustFab was rebranding and will now be known as TechStyle Fashion Company. This new name, as Adam commented, is in line with his company’s vision of tapping into the future of fashion through technology.
TechStyle is one of the few companies, and probably the market leader that leverages on tech to build their brand. They have an online VIP membership with over 1 million subscribers for their fashion line. This immense success doesn’t come as a surprise given Adam and his co-CEO are always in the spirit of winning.
Adam’s entrepreneurial journey
Built in LA chronicles his rise into the fashion industry as an ambitious Techpreneur from the Silicon Valley. Before venturing into the fashion apparels, Adam’s first venture was a gaming company, Network Gamers Alliance, which enjoyed 2 years of success before he sold it to Intermix Media. He later launched a second company, Intelligent Beauty, which was a pilot incubator that not only sold health products but also researched the various gaps in the beauty and fashion industry.
It is from these giant leaps that JustFab, now TechStyle, was found, tapping into a pre-existing market that rival companies had often overlooked. TechStyle’s biggest strength is leveraging on the internet to push their products closer to the consumer. Most of the brand campaigns are launched online with a flexible membership program that benefits the client the more they buy.
TechStyle the future of fashion
Today TechStyle enjoys its break even, being able to fund most of their project without heavy reliance on angel investments. But raising funds is worth mentioning in Adam’s story, him and his business partner managed to raise over $55 million which they used to launch JustFab. TechStyle’s celebrity status membership is currently enjoyed in several states in the US, and over 5 countries worldwide.
How they win is quite simple; through technology they listen to customer feedback and make amends with the information they gather. This way, they are able to make projections on the future of fashion and avoid obsolete inventories by producing only what their millions of subscribers want. http://rgtadvisors.com/bio/adam-goldenberg/