Amazon is controlling about 20 percent of the online fashion market, and this comes as a challenge for the fashion entrepreneurs. However, Kate Hudson’s Fabletics is up for the challenge, and in fact, just three years after its inception it has developed to be a $250 million business. The firm has embraced technology, and their customers are using subscription mechanism when purchasing their preferred clothes.
It has always been believed that you can tell a brand’s value by considering its prices and quality but this combination is not practical anymore. People nowadays tend to rely on aspects such as brand recognition, customer experience, brand’s reputation, elite design, and customer service. So as to succeed in the fashion business, one need to consider such aspects to remain competitive.
Fabletics has sixteen physical stores operating in Illinois, California, Florida and Hawaii. Just like Warby Parker and Apple they target to open more new stores this year as a payoff to the fashion membership brand. Gregg Throgmarti, the General Manager of Fabletics, says that the secret of their success is maintaining modernized high-value brand from the beginning. Another secret is allowing members to use a personalized service and finally offering them affordable prices.
How Do Fabletics Organize Their Physical Stores Differently?
1. They Allow Reverse Show rooming
Usually, customers tend to browse offline for products and services they need which triggers them to purchase elsewhere at lower prices. Fabletics implemented a different but unique strategy which includes planning events or any other activity in their physical stores that directly helps in building a relationship with their clients. Through the approach, their membership has grown tremendously, and the physical sales in the store eventually end up in the online shopping cart.
2. Having Right And Influential Data In Display
Fabletics knows that any data featured online must match with the physical facts of a product. Using online platform might render the items in the physical stores to be out of fashion in time. In this regard, Fabletics made sure that all the stores are stocked with a brand that matches User’s preferences in each area. They got information about the brand preferences in a particular place through store heat-mapping data, social media sentiment as well as real-time sales activity.
3. Secret For Their Success Is Based On People, Accessibility And Culture
Fabletics’ growth journey had hiccups such as new competitors, but they were able to balance between customer’s education, lifestyle as well as experiences. The corporate marketing officer, Shawn Gold from the parent company TechStyle Fashion Group, says that growth comes from several aspects including quality product sold at a great price, having a reliable spokesman, a creative team and an in-house media investment.
Fabletics is a fashion store that was established in 2013 by Kate Hudson. There existed a gap in the active wear market, and Kate Hudson together with the co-CEOs of JustFab Inc, Adam Goldenberg and Don Ressler saw it as an opportunity. They formed Fabletics which offered great brands, at great prices in easily accessible points of sale. The stores have extended their territories and increased their sales significantly in just three years which shows a tremendous growth.
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