Making it in fashion is a difficult undertaking, considering that Amazon controls 20% of the e-commerce fashion industry. However, Kate Hudson’s Fabletics is determined to defy the odds by growing her $ 250 million enterprise in a period of three years. Fabletics uses a subscription strategy to sell clothes to its clients. The concept is very simple; clients like brands, and enroll for membership. High value brands are historically defined by quality, and the price of goods and services. Recently, the economics of trade have changed dramatically. Quality and price are not enough for one to be competitive and achieve success. Things like customer satisfaction, gamification, unique designs, and brand awareness, are vital in determining what is valuable to the client.
Fabletics Secret to Success
Fabletics has likened itself to popular brands such as Apple. Their business strategy has proven successful for the fashion brand since they plan on opening more stores in the coming year to add to the sixteen stores they have in Illinois, Hawaii, California, and Florida.
According to the General Manager of Fabletics, Gregg Throgmartin, the secret to their success is the establishment of a modern and unique high value brand. Gregg insists that their membership model, has allowed them to provide trending fashion and personalized service at half the price that their competitors are offering the same products. Additionally, Gregg reiterates that it becomes
easy to satisfy people when you take time to know them, and identify their tastes and preferences.
Three Things That Fabletics Does Differently
Unlike brands that are incurring losses because of showrooming, whereby consumers browse products offline and buy them cheaper elsewhere, Fabletics has managed to reverse this model. Fabletics has turned browsing from a negative to a positive. Up to 50% of the consumers who go to Fabletics are already members, while 25% enroll for membership while at the store.
Exploiting Online Data
Fabletics knows that if they show the right physical content, they should also portray the right digital content. Fabletics uses online data to determine the taste and preferences of its clients, and to stock items at its store.
Fabletics growth is a combination of a quality product and affordable prices. Additionally, Fabletics boasts of a reliable spokesperson, in house media, and creative teams that enable the brand to rank high in 10 counties. Fabletics is among the most risk positive, and data aware brands.
How Fabletics Works
Once you join Fabletics, you can buy an outfit for as little as $25. Furthermore, you are guaranteed to enjoy amazing discounts. The main perk of being a member is that you will get clothes curated for you every month. You can get a 2-3 piece clothing at $49-$59.
When you are joining, you will be taken through a survey that seeks to determine what workouts you engage in, and the types of outfits for you. Every beginning of the month, workout outfits will be chosen for you. Note that, if you skip one month without buying any product, you will not be asked to pay anything.