We are living in the unbridled age of technology. Digital analytics, computer interfaces, and smart-technology guides the major tentpoles in our life. It makes sense that the fashion industry would turn to technology in order to push onto the next level of growth. In 2010, a company named JustFab was established by Adam Goldenberg and Don Ressler. Ressler and Goldenberg were two analytically minded individuals who had made a career out of working with data in the tech field. What made them want to pursue fashion? Why was their ability to meld technology and clothing so vital to the growth of the industry? Let’s take a close look at JustFab, which would go on to become known as TechStyle, and learn how these two Silicon Valley CEOs changed everything.
It isn’t hard to see that we live in an age where everything funnels through the internet. Every point of interaction we have with companies and commerce will likely begin with a computer and end with a website or some form of ecommerce. In 2010, it wasn’t that obvious but Adam Goldenberg and Don Ressler both saw opportunity there. They decided to start up a fashion brand called JustFab with the goal of melding together their analytical background with their love of fashion. JustFab focused on footwear and it became one of the first companies to ever offer a subscription program to members. The JustFab VIP monthly subscription offered subscribers more than just a discount off of the shelf as it also offered them exclusive products, reward points, free shipping and more. From 2010 to 2012 the JustFab brand exploded in popularity and the company managed to sell over 2.5 million pairs of footwear. Goldenberg and Ressler were onto something, but it wasn’t going to be stopping any time soon.
Before we dig deeper into the company that would become TechStyle, it’s probably worth learning about the individuals that made it all happen. Don Ressler is an entrepreneur that made it big by selling his company, FitnessHeaven.com, to the company that would create MySpace — back in 1997. Ressler continued to work as a venture capitalist as he generated over $1 billion in sales for various companies. Ressler would meet Goldenberg and the two would go on to work together.
For Adam Goldenberg, work came easy. Goldenberg got his start as a tech entrepreneur at the tender age of 13 when he created his first company — a website called Gamer’s Alliance. In just four short years Goldenberg would go on to flip the website to the same company that Ressler would sell his website to, Intermix. Goldenberg had insisted on a position at the Intermix company in order to fulfill the sale and he would go on to become the youngest COO for a public company in the history of business. Since then, Goldenberg has been working his way up and coming into his own as an entrepreneur and tech specialist with an interest in fashion.
Now that we know Ressler and Goldenberg we can get back to the rapid ascent of the JustFab empire. After a successful first two years, Ressler and Goldenberg would focus on expanding in a big way. The two co-founders would expand their business into six other countries, including Germany and the United Kingdom, while simultaneously partnering up with Fabletics — a fashion company started by A-Lister Kate Hudson. By this point in time JustFab had turned into four separate sublets: FabKids, ShoeDazzle, Fabletics and JustFab. The company was growing in a big way and it was time for a change. So, Ressler and Goldenberg decided to re-brand the company as TechStyle. Their goal was to showcase how tech-focused the entire company was, even in light of the fact that they were a company focused on providing customers with quality clothing.
It was easy for Ressler, Goldenberg and TechStyle to see that their data analytics were what separated them from the rest of the pack. So, the company decided to completely lean in that direction. Tim Collins, CTO at Tech Style, said of their work: “I was struck by how they were focused on building a culture of testing and optimization in the fashion business.” Collins’ admiration for the company was expounded on by the fact that he had watched Goldenberg and Ressler succeed in other ventures.
TechStyle runs on the FashionOS platform which was created by the workers at TechStyle. To develop this special, custom system, TechStyle had to shell out nearly $70 million. However, the results are impossible to ignore at this point. TechStyle has a 120,000 square foot base of operations out in El Segundo that employs over 2,000 people. Right now TechStyle is expected to bring in over $700 million in pure revenue with expectations of doubling that income in the coming years.