How Fabletics is Going Against the Status Quo in E-Commerce

It is quite difficult to succeed in the online fashion market considering that Amazon has a 20% stake in the industry. Nonetheless, Kate Hudson’s Fabletics has gained a significant stake in the market. The company is currently valued at $250 million. For the past three years, it has been registering remarkable sales amid stiff competition from more established online retailers.

 

Fabletics is regarded as an industry leader in the activewear market, which has been gaining fast popularity. The retailer sells its clothing through a subscription platform. The idea behind this is that customers like inspirational brands. The company mixes this with membership and convenience to customize each client’s order. This is what has enabled Fabletics to gain traction in a competitive and dynamic industry.

 

Emphasis on High Value Brands

 

Generally, high value brands are defined by quality and price. However, there has been a paradigm shift in recent years that is challenging this idea. The quality of goods and services, and high prices do not necessarily guarantee success in isolation. Instead, things like customer experience, last-mile service, brand recognition, and exclusive design have become the main determinants of value among modern consumers.

 

Fabletics’ strategy can be likened to Warby Parker’s or Apple’s. It’s positioning is already paying off because it operates 16 outlets in strategic locations in California, Illinois, Florida, and Hawaii. It plans to open more outlets in order to diversify its portfolio. Fabletics is equally seeking to venture into major European markets through strategic partnerships with companies that already have a footprint there.

 

The Secret Behind the Success

 

It still baffles many people how Fabletics has managed to establish itself in the fashion industry within a short time. The company’s general manager, Gregg Throgmartin points out that this has been possible due to a strong commitment towards building an eccentric and redesigned form of “high-value brand” since day one. The membership model that Fabletics adopted enable it to provide on-trend fashion and personalized services to its clients at half the price. He adds that it was easier to keep the company’s clients happy since their preferences are known.

Fabletics has also been encouraging “reverse showrooming” in its physical outlets. Traditionally, online fashion retailers allow clients to browse offline but buy items elsewhere at a cheaper price. At Fabletics, customers have a positive shopping experience that helps the company to build reliable relationships. Due to this, up to 50% of clients who visit the website at any time are subscribers. Whenever customers are shopping and try out an item, it automatically goes to their shopping cart irrespective of whether they will buy it or not.

 

Fabletics in Brief

 

This fashion e-commerce retailer was co-founded by Don Ressler and Adam Goldenberg in 2011. The duo wanted to provide fashion enthusiasts with high quality items at a cheap price. Its subscription model means items that match clients’ preferences are sent to them every month. Thereafter, the price of these items is automatically deducted from their credit cards. Since its inception, Fabletics has been funded by different venture firms including Matrix Partners and Rho Ventures.

Black Friday week is still going strong! Shop the sale in stores and online. (Link in bio)

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The Success Story of Erick Lefkofsky

Eric Lefkofsky is the Chief Executive Officer and co-founder of Tempus. The America entrepreneur was born in September 1969. He is a graduate with honors from the University of Michigan where he completed in 1991. Eric also holds a Juris Doctor from the University of Michigan which he earned in 1993. Erick’s entrepreneurial endeavors have led him to co-find some companies. Some of the firms that he has co-founded include:

  • InnerWorkings
  • Echo Global Logistics
  • Mediaocean
  • Uptake
  • Groupon
  • Lightbank

Eric is the son of Bill (father) and Sandy (mother). He grew up in Southfield Michigan. Eric went for his high school studies at Southfield-Lathrup High school where he completed in 1987. Eric Lefkofsky had his sights set on becoming an entrepreneur since he was a child. He met with Brad Keywell who was also his roommate while at the University of Michigan. They both shared the passion for entrepreneurship. They co-founded an apparel company known as Brandon Apparel in 1993. It was based in Madison. They later started Starbelly in 1999. Starbelly is an early internet company that was involved with promotional products. Halo Industries acquired the enterprise after experiencing a big success. InnerWorkings was established in 2001. The company provided procurement services to medium companies.

Eric served as a board member of InnerWorkings. Eric launched Echo Global Logistics together with Keywell. The company is involved in providing freight logistics services to individual clients and firms. The company that was a freight logistics firm came into operation in 2005. They then decided to co-find a media–buying technology company. The company later acquired Datatech in 2007. MediaBank and Donovan Data Systems merged to create Mediaocean in July 2007. Eric founded Tempus. This is a technology company involved in assisting physicians to provide custom-made cancer care in 2016.

Eric Lefkofsky is also a philanthropist. He is the founder of Lefkofsky Foundation that he started with his wife in 2006. The charitable trust foundation offers assistance to scientific and educational organizations. The Foundation targets children and has started more than 50 charitable organizations. Eric is an active member of various Boards including the Art Institute of Chicago, Steppenwolf Theatre Company, the Children’s Memorial Hospital, among others. Eric is termed as one of the most successful entrepreneurs in America. He has gained a reputation for being involved in many different industries and emerging successful in each of them. Eric has gained a lot of experience throughout his life and offers entrepreneurial advice to aspiring and potential entrepreneurs. Eric is also an active member of the Giving Pledge Foundation. Eric started selling carpets while he was at the University. He says that this was the beginning of his entrepreneurial journey.

How Comparative Law Enhances Constitutional Development And Peace Building

Peace is a vital element that every society strives to achieve and all communities across the world work to ensure their fabric is not distorted by conflicts. However, in some situations it becomes challenging to guarantee peace and build structures that are aligned towards enhancing the achievement of togetherness in communities. One of the ways communities can enhance the prevalence of unity and peace is by coming up with laws that offer everyone rights and protections together with enhancing the access to vital resources.

A constitution serves this purpose perfectly and helps to eliminate challenges in governance that could come as a result of misplaced legal configuration. Before putting laws in place, there is the research phase that allows the experts to understand the kind of legislation that could be installed to solve every problem that bars progress. This is a process that invites professionals from various parts the world who come with distinct ideas and suggestions that contribute towards developing new and useful laws.

Comparative law is the only way such a process can be possible and it is a unique method through which government agencies can learn about the different laws that are used in other regions across the world. With information about the laws that are applied in other countries, experts can pick all the vital details that can assist in the development of an entirely new constitution.

Countries like China have emphasized on the need to embrace comparative law in the process of developing new laws that are relevant with the needs of the modern world.

About Sujit Choudhry

Sujit Choudhry is a comparative law expert and the founder of the Center for Constitutional Development, which has been offering information to support constitution building by coming up with internationally recognized experts who sit to brainstorm the development of constitutional laws to help in governance and settle conflicts. The body has been partnering with universities and NGOs to enhance access to resources and the needed expertise to develop useful laws.

Before moving to Berkeley, Sujit Choudhry was working as a law professor in NYU School of Law. In 2010, he was listed among four Canadians to earn the Trudeau Fellowship award. He is a distinguished scholar and author who has contributed immensely in the development of comparative law as a field of study and research.