Kate Hudson’s Fabletics Celebrates Five Years and Sets Course for Next Phase of Growth
Jul. 10, 2018
EL SEGUNDO, Calif.--(BUSINESS WIRE)--Jul 10, 2018--TechStyle Fashion Group, an industry-leading apparel and footwear company known for its proprietary platform to build global fashion brands, is celebrating the five-year anniversary of Fabletics, the innovative activewear brand co-founded by Kate Hudson. Five years since making its debut, Fabletics shows no signs of slowing down as it announces the next phase of retail and international expansion, enhanced collections, new additions to the leadership team and an aggressive vision for growth.
Founded in 2013, Fabletics quickly became the fastest growing activewear brand in the history of ecommerce, renown for being at the forefront of innovation. Truly redefining the activewear category, the iconic brand was the first to introduce fashion, color and print to the market and the first to create an upscale, personalized shopping experience that is accessible to all women. But Fabletics’ real secret to success has been pioneering membership commerce that has served as inspiration for countless digital brands.
Fabletics’ proprietary membership model allows the brand to deliver stylish, high quality, performance-driven collections at an unsurpassed value. Proving the strength of the concept, today the brand boasts 1.4 million VIP members who are highly engaged brand advocates, with more than 25% having joined the VIP program as a referral from a friend. Led by Hudson and co-founders Adam Goldenberg and Don Ressler, in just five years Fabletics rapidly surpassed $300 million in annual revenue, continues to rewrite the rules of online shopping and traditional retail, and shows no signs of slowing down.
“I am incredibly proud and humbled by how far we’ve come as a brand,” commented Kate Hudson, co-founder, Fabletics. “We set out to create an inclusive community where women would feel empowered to live an active lifestyle. Five years later, we’ve done that and so much more. The success we’ve achieved is a testament to the amazing team we have in place and our members, who inspire us every single day. I’m excited to take Fabletics to the next level as we set in motion our vision to double revenue through exciting new initiatives.”
Over the last few years, Fabletics has further disrupted the direct-to-consumer channel by taking its online innovation into brick and mortar retail, receiving accolades from industry associations for setting a new shopping experience standard. Fabletics was the premier brand to bring a membership model into physical stores, creating a truly unique and powerful omni-channel experience. Fabletic’s stores are powered by the company’s proprietary OmniSuite POS technology enabling members to seamlessly shop and transact across both online and in store experiences, which has bolstered business performance and enhanced brand loyalty. It also enables members to use all of their membership perks in stores and allows other guests to either sign up to become members or opt to shop standard retail. With proven success across the brand’s current fleet of 24 retail locations across the U.S., which continue to see over 20% increase in same-store sales year-over-year, Fabletics announced today that it is deepening its retail presence by adding more than 75 new doors, bringing the brand to a total of 100 locations. Constantly reimagining the in-store experience, Fabletics also announced that it will roll out a new store concept this September that will debut at a new store in Bellevue, Washington.
Now sold in ten countries with European markets experiencing 25% year-over-year revenue growth, Fabletics is also focused on aggressive global expansion. This fall will mark Fabletics’ first international distribution partnership that will introduce the brand to the Philippines through free-standing stores, shop-in-shop concepts and an online shopping destination. This premiere partnership agreement kicks off a series of other international partnerships as well as company-owned expansion plans, that will result in launching new territories throughout 2018 and 2019.
Taking Fabletics into this next phase of growth, Hudson has enlisted an executive team hailing from the world’s most admired fashion and activewear companies, who together will advance the brand’s mission of empowering women by making a healthy, active lifestyle accessible to everyone. Today the company announces new additions to the brand’s leadership team, including industry veteran Karen Pornillos who has been appointed Vice President of Design and Fashion Director, joining Fabletics after serving as VP of Women’s Design for Lululemon Athletica, before joining Free People to lead design for the brand’s activewear line, Movement. Pornillos rejoins former colleague Felix del Toro, who was appointed Senior Vice President, Chief Merchandise and Design Officer of Fabletics in 2017 following management roles of increasing responsibility at Gap, Inc., Ann Inc and Lululemon Athletica, where he served as Senior Vice President, General Manager of Men’s. Pornillos and del Toro are recently joined by Shefali Shah, the new Vice President of Merchandising, who comes to Fabletics after over 10 years at Victoria’s Secret.
Also announced today is the hiring of Nancy Arnold as the brand’s new Vice President, Creative Director. After establishing her career across a mix of emerging disruptors and admired brands such as Chloe + Isabel, Victoria’s Secret and Ann Taylor, Arnold will help shape the Fabletics brand, reporting directly to Chief Marketing Officer Kristen Dykstra. Dykstra, who came on board in late 2016 following senior marketing roles within BCBG Max Azria Group, Kenneth Cole, Ann Taylor and Halston among others, has been instrumental in growing the brand’s global community and sales.
Leveraging the new team’s talent and expertise, Fabletics will soon debut a brand evolution that will result in increased collection frequency with new capsules dropping as often as once a week, as well as enhanced products across all categories. Under Pornillos and del Toro, new energy will be infused into collections through the use of the most advanced performance technologies optimized for different activities, in addition to fashion-forward designs that expand on the bright colors and fun patterns Fabletics is known for. The new collections, available beginning July of this year, not only look great, but more than ever, are built to perform.
“Driven by innovation, inspired by community and grounded in authenticity, Fabletics embodies what today’s consumers value most in brands,” said Adam Goldenberg, TechStyle Fashion Group Co-CEO and Co-Founder. “Fabletics has succeeded beyond our expectations under Kate’s vision and our new team members, and I’m confident Fabletics will continue on its incredible growth trajectory.”
By investing in advanced technology and innovative talent to significantly grow the brand through omni-channel excellence, TechStyle continues to secure Fabletics’ position as the leader in stylish, performance-driven activewear. Through community initiatives, bold collections and new partnerships intended to amplify the brand’s message of inclusivity and empowerment, Fabletics is poised for significant growth throughout its anniversary year and beyond.
Fabletics is a global active-lifestyle brand designed with every woman in mind. Co-founded by Kate Hudson in 2013, the brand combines fitness and fashion to make women feel confident at—and beyond—the gym, by offering premium quality activewear at an incredibly accessible price point. Fabletics brings new weekly collections in sizing ranging from XXS-3X to a loyal community of 1.4 million members across ten countries. See (and shop) the full selection of activewear, accessories, shoes and more at Fabletics.com and 24 retail locations throughout the U.S. For general information on Fabletics, please visit the TechStyle website. Visit Fabletics Blog to experience the brand's editorial content site.
ABOUT TECHSTYLE FASHION GROUP
TechStyle Fashion Group is a global fashion and lifestyle company founded in 2010 to deliver access, quality and style for unprecedented value. TechStyle Fashion Group uniquely merges advanced technology with the latest fashion trends to offer an entirely new shopping experience to millions of customers worldwide, including 5 million VIP Members, through a portfolio of apparel and shoe brands. TechStyle Fashion Group is reimagining the business of fashion through data, personalization and vertical integration to benefit the modern shopper. TechStyle Fashion Group’s brands include JustFab, Fabletics, ShoeDazzle and Fabkids, and are available in the US, Canada, the United Kingdom, Germany, France, Spain, Sweden, Denmark and the Netherlands. TechStyle’s newest addition, Savage x Fenty is available worldwide at SavageX.com.
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CONTACT: For TechStyle Fashion Group
Alexis Blais, 203-682-8270
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: ONLINE RETAIL RETAIL FASHION SPECIALTY
SOURCE: TechStyle Fashion Group
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PUB: 07/10/2018 12:00 PM/DISC: 07/10/2018 12:01 PM