In order for a clothing retailer to even get in on the same conversation with Amazon as far as sales, the company had better be raking in millions in sales in a very short amount of time. Looking at it first from the side of Amazon, this giant in the online retail world is breaking the bank and doing 20 percent of all the sales in that competitive market. Now we look at Kate Hudson’s Fabletics, and incredibly they have been able to do over $250 million in sales in a few short years.
If the sales continue to grow year to year as predicted, Amazon could really have their hands full.
Hudson spoke about how her women’s workout apparel company has been able to soar so high this year, and her answer is reverse showrooming and the Fabletics membership package. To see how things have been changing in this niche, simply take a drive to the mall and walk inside one of the Fabletics retail shops. This is not your ordinary clothing story by any stretch of the imagination. Not only are sales associates not pressuring customers to make a purchase, these women are walking around the store and trying on yoga pants, window-shopping for the latest in active-wear, and even taking the store’s Lifestyle Quiz to enhance their memberships.
Many leave the store without buying, so how can a company sustain $250 million in sales without closing the deal?
Fabletics is in fact closing the deal and in a very big way. The company has employed a sales tactic that women are falling in love with all around the country. If a member tries on anything inside the Fabletics retail shops, it will be uploaded immediately to their online account. What does this mean in relation to sales? It means everything, because these busy women can pick up shopping at a time more convenient for them knowing each piece they tried on is waiting for them online. At the online store, the inventory is larger, so they continue looking for new colors and styles based on the size that already fits them perfectly.
Now comes the part where Fabletics showers those same members with perks of every sort. Shoppers enjoy free shipping when they place orders online. These customers get discounts on all the apparel throughout the shops and online site. When they complete the Lifestyle Quiz, members get their own Fabletics personal shopper to help them select new releases each month.
Kate Hudson is a quadruple threat; Actress, Work-out fanatic, Author and Mom. In 2013, she took on the role of entrepreneur with the launch of Fabletics. She had always had her eye on the fashion world but maintains that it was important for her to create something meaningful that had a positive impact. It was only after years of searching for the right product that Fabletics was born. Fabletics is a fitness-wear brand whose foundation is a flexible membership model. Kate Hudson and her partners had seen a void in the athletic space; a lack of trendy yet affordable workout wear.
Growing a $250 million business in three years is not a mean feat, but somehow that is what Kate has managed to do. Fabletics uses a subscription mechanism to get customers to buy the clothes. It now boasts over one million members and allows the community to shop for hundreds of different styles monthly. It’s also planning to launch online workout classes and retreats as well as exclusive content that will empower and inspire women to get active. She launched the brand to give women of different shapes and sizes a platform to buy athletic apparel. The company was an instant hit and subscribers have grown at a steady rate.
One of the company’s reasons for success is the reverse showroom technique. This is a technique that allows the customer to first check out a product online then buy it in-store after they get to see it in person. Fabletics cleverly marries online and offline data by using data collected by the brand’s website and studying the trends and sales in specific regions. They can then stock each store with product that will perform well for that area.
How Fabletics works is much simpler than I expected. The first step is to take a quiz that informs the system and helps it to create personalized outfit recommendations suited just for you. You then shop your cart out from a variety of designs, colours and fit. You can then check out as a guest or VIP member (which of course comes with its many perks and discounts). It’s pretty straight forward and I like the option of shopping as a guest if I’m still testing the waters. Though in my opinion VIP makes sense. The quality is fantastic especially if you factor in the price paid. The material isn’t see-through (thank God!) and it holds its shape over time.
The technology industry, as well as the industry of fashion, has grown together. As a matter of fact, the two industries have seen many technological developments over the past few years. According to Chris Burch, these industries are seamless. Therefore, they are here to see many things work for the development of their individual status. There is only one thing that is remaining constant between the two industries. Both of them grow together interdependently. For all this time, technology has grown to become fashionable. On the other hand, fashion has become technologically fashionable. A fascinating part of the journey is how the two industries have grown together. Let’s look at the past events that denote how the two industries are related to growth and development.
There was an excitement brought about by the boom box of the 70s. This was the technology that allowed people to walk around with their favorite stations and tunes. As a matter of fact, they also walk around with two cassette decks. While you are playing music on one side of the player, the other side is working with the record station. Therefore this technology allowed people to do two things concurrently.
When the 80s dawned, there was an influx of movie storylines added t the cassette decks. For this reason, technology was increasingly growing. Its use went through to the 90s where you would find one purchasing a more personalized experience in music. The invention of the Walkman revolutionized the world of technology and music. This was the most fashionable technology developed from the start. Because people considered them fashionable, we can say that technology and fashion are related. For more than one decade, we saw the invention of the iPod that revolutionized the whole experience. While anything is considered popular, its technology also increases different times. Anything that is seen as fashionable has the capability to grow.
In the recent past, we have seen a synthesis between fashion and technology. For the fashion designers, they always desire in creating anything that delivers. However, it is all made possible with the aid of advancing technology. This is the technology that is considered as fashionable. Functionality and innovation standards are the rewards of these technologies. The Dutch Designer, Anouk Wipprecht, has engaged her mind in the development of fashion that is technologically fit. For this reason, she has also won tenders to serve the British Royal family. She feels like technology is a playground for deeper innovation.