One of the challenging fields for investors happens to be fashion. With fashion, when you are able to get the right balance and invest in the products that will be on demand, your brand becomes an instant hit. On the other hand, if mistakes are made in figuring out what the people want, you might incur serious losses. This is the kind of situation that the CEO of Fabletics, Don Ressler had to deal with when the team decided they wanted to invest in fashion. He went into the venture together with his friend, Adam Goldenberg and their small online shop has now become a venture worth millions of dollars and still growing.
Getting the investment idea
Innovation is normally the core of every enterprise. For Don Ressler, the acumen for coming up with ideas that become hits is something that comes naturally. The decision to go online and create a fashion brand was from some of the issues that he had noted about the fashion industry on general in businessoffashion.com. He states that he was always puzzled by the fact that people called the online stores self service, but in reality, it is the retailer that decided the brands they were going to make part of their stock and the customers had to choose from what was available. Adam Goldenberg wanted to give the customers the opportunity to create the fashion that they wanted from scratch.
From the moment the idea hit the market, it was a hit. Currently, when a person wants to create an interesting fashion item, all they need to do is get to the site, use the software on the site to create the specifications that they want for their products and order for the product. The company creates the clothing item according to the directions and sends it to the consumer. Six years after the company was started, their success is very evident.
There are many other factors that have aided the success of the idea. The first is the endorsements that the brand has received from the industry giants. Celebrities like Kimora Lee Simmons, Elle Fowler and Avril Lavigne have all formed partnerships with the brand. Matrix Partners and Rho Ventures have contributed more than $100 million towards the success of the company according to Vator.tv. The company and their products have a heavy following among the millenials and with the type of momentum they are gaining; it is easy to see that things will get even better for them.
For more information about Adam Goldenberg, just go to this sites: