Fabletics is a brand that has become highly successful in the niche of athleisure products very quickly due to the wide range of products it offers at an affordable price. The popularity of its brand ambassador as well as co-owner, Kate Hudson, has also helped Fabletics give big companies such as Amazon a tough run for its money. Fabletics has a tremendous brand value today, and it is all thanks to the enterprise’s unique business model.
It started off with much fanfare, and to continue its growth momentum; it launched the subscription model where the customers can become VIP members for a nominal monthly fee. It allowed customers to buy products from the company’s site at a hugely discounted price and also ensure that members get three products every month for the same amount. It promises a personalized and hassles free shopping experience that is perfect for today’s women who are too busy to scroll through the countless fashion websites operating today.
Fabletics started its operation as a startup, but quickly became an established fashion retail brand that was giving big businesses a tough challenge in the athleisure niche. The company also continues to implement innovative marketing techniques such as reverse showroom model to ensure that it continues to keep its grip firm on the market. In the reverse showroom technique, the brand would first make its mark in the online market and then go on to open physical stores.
It is what other companies like Warby Parker and Apple did successfully, and now Fabletics has managed to follow suit, and how. The company has over 1.2 million subscribers from across the globe, and the count continues to grow on a daily basis. Moreover, the company has an annual turnover of $250 million, and with the growth rate of over thirty percent, it aims at making a substantial increase in the days to come.
Kate Hudson, who is one of the co-owners of Fabletics, says that one of the reasons why Fabletics has managed to sustain in the competitive market is because it offers value to the customers. It gives customers what they are looking for, and the business model of providing personalized shopping experience has worked wonders for the brand. The company continues to use marketing and sales data to develop its corporate strategy. Customers who are looking to join Fabletics as VIP members can choose to take the Lifestyle Quiz on the company’s site to get a feel for the kind of shopping experience offered by the brand.