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TechStyle Fashion 7th fastest growing retailer in US: NRF
Aug '17
TechStyle Fashion Group, the leading global fashion membership commerce company, has been named one of the fastest-growing retailers in the US by the National Retail Foundation’s (NRF) Stores Magazine as part of the annual Hot 100 Retailers ranking. The company has been ranked number 7 overall with a 29 per cent year-over-year sales growth rate.

Stores Magazine noted that the 2017 list reflects the changing nature of retail, in which unique offerings, personalised experiences and innovation are integral components to sustained growth.

TechStyle’s inclusion on the ranking comes on the heels of a momentous past year for the company, in which its brands JustFab, Fabletics, FabKids and ShoeDazzle continued to differentiate themselves by enhancing the value provided to VIP members. New partnerships, expanded membership perks and technological advancements powered by TechStyle’s proprietary software suite, FashionOS, drove significant revenue growth as well as an increase in the company’s membership base, said TechStyle Fashion in a press release.

“The recognition by the NRF and Stores Magazine is a direct result of the incredible, innovation-driven team at TechStyle that is behind our beloved brands. From our design and merchandising teams to our data analysts and engineers, our employees are dedicated to challenging the status quo and reimagining how things are done in the fashion business. It is a thrill to have their efforts and continued success recognised by Stores,” said Adam Goldenberg, co-CEO and co-founder, TechStyle Fashion Group.

The Hot 100 list of fastest-growing retailers, compiled by research firm Kantar Retail and published in the August issue of Stores, is based on sales growth in 2016 over 2015 and ranks both public and privately held retail companies by US domestic sales. (KD)

Fibre2Fashion News Desk – India

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