According to an article in the LA Times JustFab is rising to success as other online subscribition services are starting to fail and burst the bubble. JustFab recently reached the coveted “Unicorn” status, which means that the startup recently recieved 1 billion in a recent round of fundraising.
Just Fab is an online subscription based retailer that has carved out a niche by offering disount handbags, shoes, and clothing to it’s members. These members are currently 4 million in number and growing. The company attributes it succeess to never sending a customer something they did not pick themselves.
The success JustFab comes at a time when other subscription based services are struggling. The success and growth of subscription based services largely rests on their abiltity to aquire new customers, something few other companies seem to be able to do. Groupon, for example, was widely recieved when it first hit the market, but lately the response from customers has been lukewarm and growth seems to have petered out.
Fortunately, JustFab does not seem to have suffered from the same fate as these other services. In fact, the company is growing and expanding at an incredible rate.
In the last few years, JustFab has expanded into offering clothing, in addtion to the shoes and handbags it first built the brand on. Recently the CEO of the company, Adam Goldberg said that the company was heading towards becoming an IPO.
In fact, an exectutive who specializes in IPO’s, Todd Tapin, was recently brought on. This is further proof that the company is serious about planning about going public, something few subscription based online start-ups have been able to do. Regardless of what direction the company takes, it is clear they are doing well. Learn more about JustFab: https://en.wikipedia.org/wiki/JustFab
JustFab has built its success by offering customers a product that they want. Every month new handbags, shoes and clothing are adding to the line of high quality and affordable clothing and accessories.
Members fill out a quick survey upon joining this subscription based service, and are offered a selection of items customized to thier style preferences. Of course, they never have to buy anything they don’t want.