One of the things I’ve been truly excited about this past year is that mail is actually becoming fun again! Looking for gourmet food that is actually healthy for you? It can come in the mail! Looking for trendy accessories? It can come in the mail? Looking for AMAZING workout gear that is actually trendy? Thanks to Fabletics, it can also come in the mail!
I fell in love with a feature article on CNBC.com that highlighted how great Kate Hudson’s company, Fabletics, has been doing. The company has brought in around $250 million dollars in the past 3 or so years and while numbers don’t mean much to me, I feel like it has filled this huge gap in the athletic wear industry that so many of us have been so grateful for.
Among her advice for accelerating your company to the next level, Kate Hudson outlined the fact that business owners should focus on being hands on, even when their company sees the type of success that Fabletics has seen. Even though the company has excelled like few do, she is still involved with the daily work and also works within several areas of the company, from product development to marketing. She also cited the importance of taking risks and really believing in yourself, which is always an underlying element the encourages success.
The company uses a reverse showroom technique, where it invites potential buyers to a digital showroom where they can get to know the brand and the product line at their leisure. Many companies are still focused on actual stores, that have extremely high overhead and also have to staff their stores with employees that often simply man the store while people browse and then those prospective buyers go home and make purchases on the internet, often for just mildly lower prices.
By utilizing a reverse showroom, Fabletics has been able to offer their high-end products at a price available to the majority of people – meaning their sales are up and that are they going head-to-head with online retailers such as Amazon. Not only is Fabletics taking on Amazon, but the brand’s price point and quality of its product line has launched it into a top position in its market of athletic wear. With a 43% growth rate is 2016, we look forward to what Fabletics has to offer in 2017 and how large the company can grow.