Don Ressler and Adam Goldenberg co-founded Fabletics as a response to a unique need in the fashion market. Retail was a 44 billion dollar business in 2016. These numbers were based on the purchases of active wear. The growth and consumption in this particular market was expected to double reaching 83 billion dollars annually. Read more: LA Entrepreneurs Don Ressler and Adam Goldenberg Are Reinventing How We Think About Technology and Fashion
However, despite the huge numbers there were only a few companies dominating the industry. Monopolies are common in many different business arenas. These companies secure huge profits with very little competition. The introduction of Fabletics challenged this business paradigm.
Don Ressler and Adam Goldenberg teamed up with high end personalities in order to draw attention to their new business model. Actress Kate Hudson was a primary figure in pioneering the marketing effort for the new company. The objective was to satisfy a need in providing active wear to the female consumer.
Industry research showed that women were the most overlooked consumer group in the active wear market. Females were looking for colorful and attractive workout gear at a reasonable cost. Many of the options on the market at that time came in standard sizes, were very expensive and not flattering to the woman’s physique. Don and Adam saw the need and develop a line of clothing to satisfy and unnoticed consumer base.
They began with Techstyle Fashion Group. The company quickly began to answer the call for a fresh approach to female athletic fashion. However, their efforts were not without obstacles. Don and Adam were in need of a tremendous influx of cash to pursue this business endeavor. Their online business was highly successful at that time.
Yet it still did not provide enough funding to launch into the fashion retail market. It was unlikely that two unknown businessmen were going to create a formidable brand in women’s active wear. The duo was forced to team up with notable names in order to establish themselves as a player in a very competitive industry.
Kate Hudson brought her personal touch to the vision. She was an active and athletic female who desired the product that Don Ressler and Adam Goldenberg was trying to market. Hudson enthusiastically embraced her role.
She was motivated by the idea of inspiring women to stay fit and active. Money was merely an afterthought. Kate Hudson, Adam Goldenberg and Don Ressler then set out on a mission to create a line of women’s active wear that would be appealing to females of all sizes and activity interest.
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