Kate Hudson’s Fabletics has managed to not only survive in the highly competitive fashion industry but also to thrive in it. With Amazon having a 20% market share of the fashion e-commerce space, Fabletics being able to make $250 in the same market in just three years is a considerable achievement. Its success can be attributed to their unconventional marketing style whereby they use a subscription plan to sell their items to their clients.
In the past, top brands were identified by their price and the quality of the items or services they offered. However, recent changes in economics have rendered this combination null and void. Companies can no longer depend on these factors to make them competitive and give them a cutting edge in the market. Customers now want aspirational brands which challenge them and at the same time provide convenience and perks like membership. That is a winning combination for brands, and Fabletics has got it right.
By stepping away from the traditional view of high- value branding, Fabletics has managed to create a niche for itself in the athleisure field. Their membership model allows the company to offer personalized service and trendy fashions at a cheaper cost than that of their competitors. This is because it is easier to please their clients when they have their details, know who their clients are, and understand what their clients prefer.
While competitors in the market are feeling the pinch of showrooming, which is the practice of people browsing for items offline only to buy the items at a lower price elsewhere, Fabletics has leveraged this to their advantage due to the way their marketing model is set up. For Fabletics, where the customer makes their in-store purchases is not important because retail is just one of their many elements of service. Instead, they are more focused on building client relationships and being more reliable by knowing their local markets better through activities and other events. Therefore, 30-50% of the prospective clients that visit their stores are already members. Another 25% of these prospects become members while at the store. While shopping, if a customer tries out an outfit, it goes to their online shopping cart too. All these make Fabletics turn showrooming into a positive for them instead of a negative.
Kate Hudson, a Hollywood actress, is a firm believer in the brand, its products, and what it stands for. A fitness enthusiast herself, she believes in inspiring and empowering women to be their best. Kate wears the brand items and is an aggressive ambassador for the brand. She is keenly involved in the daily running of the business, from handling the design process to reviewing budgets and choosing the best social media strategy. Kate has also ensured that there is clear communication between the brand and its clients.
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Amazon now controls approximately twenty percent of the apparel industry. Traditional brick and mortar stores are struggling, with online stores getting their sales because they sell them cheaper. Growing and making an impact in the apparel industry is getting more and more difficult. Fabletics is managing to break both stigmas by creating both a successful online and physical store business. Fabletics began just a few short years ago and they have managed to grow into a large, multi-million dollar business with a loyal customer base. When Fabletics started, there were only expensive, high-end workout apparel or inexpensive but terrible quality clothing available to consumers. Fabletics wanted to fill that hole in the workout industry. With the help of actress, Kate Hudson, they started a workout apparel line that was stylish, trendy, and made from quality materials, but offered at a price that consumers could afford. They hit the nail on the head, and the company has had enormous growth in the highly competitive fashion industry.
A big part of their growth and success is because the clothing they offer rivals the quality of those at the high-end, expensive brands, but at a fraction of the cost. Making quality workout clothing affordable not only brings customers back for more but makes them feel like they are an intelligent, smart shopper by saving money. Their clothes are durable, keeping their shape and compression after many cleanings, which is important in clothing you exercise in. Their clothes also don’t fade, looking new for months to come. The clothing is made from high quality, soft, and comfortable material that you won’t want to take off.
Fabletics main business is their online membership subscription service. You start with a discounted outfit, and then for a low monthly fee, will receive an outfit each month. To help tailor their site and offerings to your lifestyle and exercising preferences, you take a quiz to help determine what apparel items will fit your personality best. Then you can choose from the customized outfits or pick your own. It makes shopping simple and easy, which is important in our busy lives. No one has time to search all day for that perfect, trendy, stylish, and comfortable workout outfit. Fabletics makes it easy to find the perfect outfit you’ll love. Plus, with their physical stores, when you try an item on, it gets added it your online shopping cart, so you can buy it then, or think about it and buy it online later.
Chris Burch talks about the future of fashion and technology in an article published on engadget.com. Chris Burch is a fashion enthusiast. He states that fashion and technology have been able to grow together and that their journey is fascinating. He adds that the two depend on each other so as to gain popularity. Chris says that there are a lot of opportunities that fashion and technology have to offer. He states that fashion designers have incorporated technology into their designs and come up with amazing products. Chris Burch talks of Anouk Wipprecht who is a Dutch fashion designer. He states that this designer marries fashion and technology to create amazing designs.
Anouk Wipprecht has a reputation for her avant-garde designs, and she has designed the Pseudomorphs and the DareDroid. Chris adds that Terese Alstin and Anna Haupt came up with a system known as the Airbag for Cyclists. This offers protection for cyclist and ensures that their head is protected in case of an impact. He also talks of the frontline gloves which were designed by Kevin Cannon and Ashwin Rajan for firefighters. The frontline gloves enable firefighters to communicate to each other via simple hand gestures. Chris says that all this has been made possible through the combination of fashion and technology.
Chris says that designers are now recycling materials to create fabulous fashions. SegraSegra was able to create t-shirts and jackets by recycling bicycles inner tubes. Emma Whiteside also used recycled radiator copper to create a big gown. Chris states that technology and fashion can generate energy when used together. Newly made clothing captures the kinetic energy produced by the movement to power things like a mp3 and a watch. Chris says that Soledad Martin is in progress to create a prototype for shoes that will allow individuals to charge a cell phone while running or walking. Chris says that there are times that technology requires help to acquire popularity from fashion.
Chris Burch is a serial entrepreneur who serves as the Principal of Burch Creative Capital. Chris has various business backgrounds in many different industries which include technology, real estate, and fashion. Chris Burch attended the Itchica College for an undergraduate degree. Chris and his brother launched a company known as Eagles Eye Apparel which they grew to 165 million US Dollars before they decided to sell it. Chris believes that there is a tremendous potential in the technology and fashion industries.