TechStyle Fashion Group is an online subscription fashion retailer. The company sells a wide variety of fashion products on internetretailer.com such as shoes, jewelry, handbags, and denim. Its clients benefit from personalized shopping experiences, which are based on the style preferences chosen by the members. TechStyle is the parent company to renowned brands such as JustFab, ShoeDazzle, JustKids, and Fabletics.
Don Ressler and Adam Goldenberg founded JustFab in March 2010. JustFab was an instant hit among the young generation as it provided them with affordable and trendy products. The two entrepreneurs, Adam Goldenberg and Don Ressler hired Kimora Lee Simmons to serve as the company’s president and creative director. This is because of her extensive experience in leadership, particularly in the competitive fashion industry.
Initially, JustFab operated only in the United States. However, as the company continued to grow, it expanded to other countries on Pando. Later, the entity opened other stores in the UK, Canada, and Germany. This expansion strategy was followed by massive investments of $76 million from Rho Ventures, Intelligent Beauty, Matrix Partners, and Technology Crossover Ventures funding. In 2011, the company received $33 million from Matrix Partners.
The now dominant JustFab entered the children fashion industry by acquiring FabKids, a fashion subscription company. This acquisition expanded both the customer base and the revenues of the enterprise at http://www.techstyle.com/happy-in-el-segundo-techstyle-coo-anton-von-rueden-on-the-perks-of-life-in-the-south-bay/. In addition, the company collaborated with celebrities such as Avril Lavigne, Elle Fowler, and Blair Fowler. The stars released their sub-brands through the company.
In 2013, Don Ressler helped the fashion company to secure $40 million in funding. The third round of funding helped the company to enhance its product portfolio and venture into new territories. Additional funding was secured in August 2014. A group of firms led by Passport Special Opportunity Fund invested the $85 million in the corporation. These resources increased the group’s total capitalization to $250 million.
TechStyle’s membership cost is $39.95 million. This amount is channeled to purchasing different products for the clients. Every month, the fashion retailer provides its customers with a group of selected items. Customers are required to pick from the list or request new options. A client can also skip the month without incurring any charges.
About Don Ressler
Don Ressler is an entrepreneur, executive, and a fashion icon. He is the co-founder and co-CEO of TechStyle Fashion Group and Intelligent Beauty.