JustFab Incorporated refers to an online fashion retailer that deals in shoes, jewelry, handbags and denim. The online subscription site provides a personalized shopping based on the fashion preferences of a member. It is the parent company of other brands that are based on membership like FabKids, Fabletics, ShoeDazzle and JustFab. The retailer rebranded itself later to TechStyle Fashion Group.
History and Funding
Adam Goldenberg and Don Ressler founded the company back in March 2010. In September 2011, Kimora Lee Simmons joined the company as the president and creative director. JustFab was funded by the Matrix Partners, US venture capital firm, to the tune of $33 million in 2011. The company further received an additional $76 million in 2012 from Rho Ventures, Matrix Partners, Intelligent Beauty and Technology Crossover Ventures. It was able to expand internationally to countries such as the UK, Germany and Canada.
Acquisition of Other Companies
In January 2013, JustFab (as it was then) purchased FabKids, a subscription company for kid’s fashion. The two companies had no previous association despite the close similarity in their names. There was a television show about JustFab sub brand titled Kimora: House of Fab. It covered Simmon’s role and the daily operations of the company in marketing, public relations and merchandising. The company embarked on an international expansion plan through its acquisition of Fab Shoes back in May 2013. In August 2013, the company then acquired a rival shoe company ShoeDazzle.
In September 2013, the two CEOs, Adam GOldenberg and Don Ressler of TechStyle announced that the company had successfully closed $40 million in a third funding round to help in accelerating its fast international growth and venture into new categories of products. In August 2014, the company reported that it had managed to close a further additional funding round of $85 million. This was led by the Passport Special Opportunity Fund and existing investors like Matrix Partners, Technology Crossover Ventures and Shining Capital also participated. Fabletics, dealing in athletic wear, was founded by the two TechStyle’s CEOs and Kate Hudson in 2013.
About Don Ressler
Don Ressler is a successful entrepreneur and businessman. Don Ressler is well known for his role in establishing JustFab. Ressler has a passion and talent in recognizing the current fashion trends, growing businesses and developing brands that lead the industry. He is also the backbone of other successful startups like Alena Media, JustFab and Intelligent Beauty. Don Ressler’s success in business can be traced to his earlier days when he was an internet consultant to mentor companies to exploit online marketplaces.