What makes a company successful? Well, to properly answer that question: it depends on what type of company. When it comes to fashion companies, success is a far from an easy thing to obtain. Fashion is the most cut-throat industry on the planet. Very few experience real worldwide success.
Yet, that’s exactly what Kate Hudson has done. Three years ago, when she launched Fabletics, she never knew her company would grow into a $250 million business. Fabletics seems to have a life of its own, with a huge following; mostly comprised of millennials. Millennials love the fashionable fitness wear of Fabletics and their affordable prices.
Was it strategy or just luck that Kate Hudson’s brand caught the attention of an entire generation? Honestly, it’s probably both; but more on the strategic planning side. Millennials are far more health conscious than their parents, and they also have a more relaxed approach to casual wear. Activewear is the perfect blend of the two.
Millennials have also taken to Fabletics because of their personalized outfit selection. Every month, fashion experts at Fabletics select outfits they believe members will like. It’s a way of introducing new styles to those who may be more comfortable staying in a rut.
That’s part of Fabletic’s high-value brand. High-value brand doesn’t mean it’s expensive; it’s not. High-value brands are determined by consumers. These days, consumers care more about what extra features companies are willing to go to keep them as loyal customers. Fabletics also offers a free lifestyle quiz for those looking to explore their inventory.
Instead of following the pop-up store route, Fabletics decided to build relationships with its members. So far, Fabletics has 16 stores nationwide and plans to add more by the end of this year. Despite the many obstacles facing companies these days, Fabletic’s strategy seems to be paying off.
According to Fabletic’s managers, nearly half of the people walking through their doors are already members. In addition, nearly one-fourth of people walking through the door become members after looking around. Fabletics relies so very heavily on its members for local support and information.
According to one non-sponsored reviewer, the biggest surprise about Fabletics is the variety of styles. Lots of fashion companies say they have an expansive inventory. Fabletic’s products’ quality is surprisingly pretty good as well.