There are new brands being started on a daily basis. However, they grow at variable rates. Some of these businesses will grow at slow rates. Other businesses will grow at a rate that is mind-blowing. Whitney Wolfe has started one of those fast growing brands. This begs the question as to what the factors are to a brand that is fast growing. While it is not that predictable as to what brands are going to grow fast and what are going to be slow, there are certain commonalities among brands that are fast growing. It is worth exploring each of these brands in order to see what they have in common.
One thing that Whitney Wolfe does with her brand is look at a deep othat grows quickly. In Whitney’s case, she has looked at the rules that have kept women down for a long time. Women have been treated unfairly and told to not assert themselves. Whitney Wolfe wanted to empower women to be assertive and take initiative with their lives. This has been the whole point of Bumble. With this app, she has started with dating and relationships.
One of the larger factors behind the growth of Whitney’s company is the story behind it. Like so many women, Whitney Wolfe has dealt with her share of unfair treatment and other forms of injustice that has left her in a lot of pain. Instead of lying down and being silent, she has decided to take an opportunity to use her pain to move forward and reach out to others who have gone through similar experiences. She has also wanted to prepare other women for the possibility of dealing with such traumas by giving them platforms they can use for support.
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The reverse showroom technique is built around stocking the retail shops with what the customers needs. It based on a customizing product stocking idea that is aimed at reducing the overhead costs including long shelf stay for products. For Fabletics, a fashion forward athelisure brand, it has been the key to challenging the market superiority of established fashion brands such as Amazon. The technique has enabled the Kate Hudson-cofounded company reverse some of the gains of these industry players and in the process elevating Fabletics into one of the leading activewear fashion brands. For Kate and her partners, it is the technique that has been at the center of a wild wind growth in fortunes in the company, turning Fabletics into a multimillion dollar fashion entity within a few years of its founding.
The Application of Reverse Showroom
The use of reverse showroom technique by the hierarchy of Fabletics is intentional and strategic. From the onset, they embarked on a data gathering mission. They collected data on sizes, designs and other tastes and preferences parameters. They used the browsing history of the customers who visited the company’s website, the Lifestyle Quiz data and the various clothing items customers tried during their visits to their brick and mortar stores. The data enabled the company to primarily design and stock their online and physical stores with what their member’s desire. For a monthly of $50, members can enjoy great discounts on products while also having the luxury of finding athleisure products that are customized to their taste. Such an innovative use of technology has seen Fabletics surpass the million membership threshold while its value has grown manifold.
Kate Hudson’s Role at Fabletics
Fabletics was founded in 2013 through a partnership between actress Kate Hudson and fashion industry innovative entrepenuers, Don Ressler and Adam Goldenberg. Kate has played a critical role in developing and promoting Fabletics’ brand image including serving as one of its band ambassador. Celebrities such as Demi Lovato, who are current Fabletics’ brand ambassadors were brought to the fold by the Kate Hudson. She also brings on board her large fan base including fashion forward millenials and women of different ages.
Kate Hudson reckons that Fabletics’ fashion forward athleisure products, which have been tailor-made to meet customer demands, are symbols of women freedom. Such strong convictions have seen her take on various duties at the company including overseeing its branding and marketing. To experience the freedom and empowerment that come Fabletics’ innovative activewear, take the Lifestyle Quiz.
Many business analysts are telling people not to go up against the internet retailer Amazon. The reason for this is that Amazon dominates the entire internet market and very few have the funds to compete. However, Kate Hudson and her company Fabletics have refused to listen to what the business gurus are saying. She believes she has what it takes to take down the internet juggernaut, and looking at the beginning numbers, it would seem that Kate Hudson is correct.
Kate Hudson put the consumer as the number one priority of her business. For them, she makes athleisure clothes that are meant to inspire women so that they always want to become a better version of themselves. This consumer dedication has earned her untold loyalty throughout her current customer base. This focus on the customer is also known as leveraging the power of the crowd. To do this, you need to have the customer’s trust.
Kate Hudson earned the customer’s trust by responding to every single Facebook message, customer inquiry, consumer phone call, and email message. These quick responses may the customers feel valued and appreciated by the Fabletics Corporation. Recently, according to several different indexes, Fabletics has received a 96 trust score rating throughout the various measures. This is unheard of in the internet e-commerce fashion sector.
This loyalty to Fabletics began to show its profitability when Fabletics launched its subscription model. The subscription model allows the consumer to sign on for either a monthly, quarterly, or yearly subscription. Not only did millions of subscribers select a plan, but they also began purchasing additional clothes beyond what the subscription offered them. This told Kate Hudson and her team that the consumer found the closed be beneficial to their lives. In fact, hundreds of customers began requesting a recommend a friend feature with they could get a discount. This loyalty to Fabletics would pay off in spades when Kate Hudson opened her 16 retail stores.
Because of Amazon’s dominance, many companies are refusing to open retail stores. The reason for this fear of opening physical stores comes from the curse and the trend known as showrooming. Showrooming is when a consumer comes into a physical store with the only intention to browse the products. The customer then intends on going online and searching for the best price throughout the world. Showrooming puts a retail store at a significant disadvantage. However, Kate Hudson was able to deal with this problem because her customers were loyal to her product. When Fabletics opened up its 16 retail stores, 50% of those entering the store were already subscribers online. Of the 50% who were not subscribers, one out of every five of them has a plan before they left the store.
Fabletics continues to make a positive change in the lives of every person who uses the clothes. I highly encourage you to take Fabletic’s lifestyle quiz. This will analyze your life and choose the appropriate clothes for you needs.