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TechStyle Fashion Group has 5 million plus members

03
Mar '19
Pic: Tech Style Fashion Group
Pic: Tech Style Fashion Group
Global VIP membership of TechStyle Fashion Group, the brand-building platform operating popular brands including JustFab, Fabletics, Savage X Fenty, FabKids and ShoeDazzle, has expanded to more than five million active members, making it one of the largest membership-based fashion companies. TechStyle pioneered membership commerce in 2010.

The milestone caps a momentous year for TechStyle, in which the company expanded its brand portfolio, surpassed $750 million in annual revenue and experienced double-digit growth in retail.

TechStyle pioneered membership commerce in 2010 through the launch of its first direct-to-consumer brand, JustFab. TechStyle set a new standard for membership programmes by championing a more flexible, inclusive iteration of the concept that allowed the company to offer high quality and stylish collections on a monthly basis at an unsurpassed value. The VIP membership programme has gained a loyal base in more than 12 countries around the world, many of whom have become passionate evangelists for TechStyle’s growing portfolio of brands.

“The VIP membership programme has allowed TechStyle to build a closer, more meaningful relationship with our global customer base,” said Adam Goldenberg, TechStyle Fashion Group Co-CEO and co-founder. “The programme’s benefits have driven customer satisfaction across our brands to levels previously unattainable in fashion, while also enabling unprecedented business efficiencies. Scaling the programme to more than five million members has created new opportunities for enhancing every aspect of our business, from inventory management and distribution to merchandising and customer support.”

The VIP membership fosters genuine loyalty because it is free to join and adapts to members’ shopping preferences. Customers join the membership to gain access to steep discounts on all products, free shipping, and personalised style suggestions. In return, members are asked to visit the brand site or store once a month to preview the new collections and decide whether to buy or skip the month. Members who miss a month are provided a brand credit which never expires. This value exchange between TechStyle brands and its members drives the company’s efficient business cycle, allowing for more affordable prices and less obsolete inventory.

The transformation of TechStyle Fashion Group into a global brand-building technology platform reached the pinnacle of success in 2018 when it partnered with global superstar Rihanna to enter the intimates category through the launch of Savage X Fenty. Using its brand-building platform, including propriety FashionOS technology and suite of expert services, TechStyle Fashion Group launched Savage X Fenty across 12 countries on a single day, challenging the $30 billion global lingerie industry with its entirely new approach to building fashion brands.

Continuing its efforts to reimagine retail, in 2018 TechStyle expanded the use and capabilities of OmniShop, its proprietary omnichannel solution that facilitates a seamless customer shopping journey from online to offline. Powering Fabletics’ 25 stores, OmniShop contributed to the brand’s accelerated growth as it reached $300 million in annual revenue by gleaning customer insights from in-store experiences. With same-store sales experiencing a 24 per cent increase year-over-year and plans to expand its retail footprint to 100 stores, TechStyle’s fastest-growing brand shows no sign of slowing down.

In 2018 TechStyle also launched a platform to inspire women and girls called the Impact of Women. Partnering with renowned photographer Amanda Demme, the campaign showcased the stories of fearless women who have led by example. With women making up more than 60 per cent of TechStyle executive positions, the campaign sought to extend the company’s mission of female empowerment to girls around the world. (SV)

Fibre2Fashion News Desk – India


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