Adam Goldenberg is the chief executive officer of JustFab, and the company just went into a recent change, dropping the old company name “JustFab” to a new, catchy name: TechStyle. He had a recent interview lately with CNBC and explained why the name of the company has to be changed. According to him, the rebranding was made because of the growing popularity of the brand, and more people are subscribing to their service. They are also getting a lot of nice feedbacks lately, and stated that they will now be focusing on expanding and making huge improvements compared to the times when they were still operating under the name JustFab. Adam Goldenberg explained that what they are aiming for TechStyle is brand building, and not just selling a particular product. He believes that through the rise of e-commerce via Techstyle.com, a lot of opportunities are waiting just around the corner to build brands from scratch at a rapid speed, thanks to the help of online subscription and their new found sales model.
Being a startup that has managed to grow at an accelerated rate these past few years, TechStyle became one of the most observed newbies in the e-commerce industry. Adam Goldenberg stated that they are managing all the aspects of the company itself – designing, manufacturing and the retail process as a whole – and they have to be keen in working on these details or lose the tide of growth they are currently experiencing. In fact, with the rise of the company and under the leadership of Adam Goldenberg himself, they managed to secure an $85 million funding at a $1 billion valuation. It is regarded as one of the company’s milestone, considering how new they are in the business.
The company was established back in 2012, and with the help of his colleagues, they managed to reach tremendous growth, acquiring smaller companies and receiving a number of finances and investments in the process. They also managed to secure some brand names to be officially under the supervision of the company, and one of them is Fabletics, which offers stylish workout clothes for customers. They are also known to be one of the first companies to introduce sizes for everyone, regardless of their body types. For the next five years, TechStyle wanted to increase their presence by opening 100 physical stores across the United States, and has been forecasted by analysts to be one of the most successful online retail business in the years to come. http://www.entrepreneur.wiki/Adam_Goldenberg