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Aug 16, 2016
We’re Changing Our Name to TechStyle Fashion Group: Here’s Why
Today, JustFab Inc. officially becomes TechStyle Fashion Group and the new name isn’t just a consequence of our love for textiles and wordplay. The decision to change our name wasn’t made lightly, after all, under our current moniker we’ve created a global e-commerce company, been dubbed a unicorn and built a VIP member base of over 4 million people. It’s precisely because of this progress, and our vision for continued growth, that we’ve elected to make this leap in order to more accurately reflect who we’ve become as a company.
When we began six years ago we were a single e-commerce site selling exclusively women’s shoes. Today we’re five brands: JustFab, FabKids, Shoe Dazzle, Fabletics and FL2. Our product offerings range from jewelry to active wear. We have five offices across the U.S. and Europe and we deliver affordable, on-trend fashion to millions of VIP members in ten countries. Over the course of our growth, we’ve transcended beyond traditional e-commerce, correcting inefficiencies and re-thinking how shoes and apparel are produced and distributed.
We’ve built a fashion company, while also building a technology company, reimagining every element of the business of fashion from customer service to supply chain and marketing. “TechStyle Fashion Group” is where Silicon Valley meets Fashion Avenue, where traditional industry challenges like obsolete merchandise and seasonality aren’t inevitabilities but simply problems that can be overcome using data and innovation.
We make more than apparel and accessories at TechStyle Fashion Group, we make video, we make advertising, we make customer experiences and we hope to make history. In a short time, we’ve become the leading membership based apparel and shoe company in the world. We’ve succeeded where many contemporaries have failed by thinking beyond our core competencies.
Our model of vertical integration allows us to run all of our brands more efficiently. We’ve built our own customer service model, where the average call can be answered in 36 seconds and developed proprietary software to manage all records, contact management and account history. We’ve built out a membership structure that provides us with the customer insights to predict purchasing at 95% accuracy. We’re proud to say that our daily reality would be difficult to imagine for most fashion companies.
While many businesses in our space struggle with retention, we use customer insights and feedback from our members to engineer items we know they’ll love. We continue to refine our shopping experience with machine learning and believe we’re on track to create a personalized e-commerce experience that will become the model for others in the industry.
Today, we’re able to make a profit while charging our members half the price for items that are of commensurate quality to brands like Steve Madden and Lululemon. We’re able to do this by thinking differently about everything from our people to our process. As we prepare to explore the possibilities that have been afforded to us by this progress, from venturing into new geographic markets to launching additional brands, we want a name that represents who we are and who we will be instead of who we were.
Want more information on our new name? Read the full press release here.