JustFab hosted actress Peyton List, Aubrey Plaza, Jamie Chung, and E! Entertainment television host Maria Menounos who turned at the Sunset Tower in West Hollywood to celebrate JustFab’s apparel business as the company launched its new women’s ready-to-wear line. The new line on Zimbio will include knits, tops, dresses, jackets, swimwear, skirts, jumpsuits, shorts, pants, and leggings. The customers will be able to buy the items at prices ranging from $9.99 for a T-shirt to $79 for a coat.
The company was founded by both Adam Goldenberg and Don Ressler in 2010 to sell footwear online. The company has plans in place to roll out 5,000 apparel pieces in the future. One of the reasons the company has risen so fast is because Don Ressler and Adam Goldenberg have worked hard to secure funding for the enterprise. Since 2010, when the company was founded, the JustFab.com site has gained over 2.5 million members and generating over $3 million in revenue per month.
JustFab targets young women aged 24 to 45 looking for “fast fashion” and are passionate about shopping. The company raised about $33 million from various sources including Matrix Partners. In 2014, the firm closed a deal of $85 million round of funding which was confirmed by the company’s co-founder Adam Goldenberg amd Don Ressler. The $85 million deal was a contribution of various companies including Technology Crossover Ventures, Shining Capital, and Matrix Partners.
According to co-founder Mr. Goldenberg, the company has already started thinking like a public company admitting that investors and management believe the company could build a business worth at least $3 billion. Don Ressler, on the other hand, has assured customers and partners that the growth of the JustFab will not change how the company operates. According to him, the best way to build a business with value is to create a great business. Ressler was confident that JustFab is on track, and there is a lot to be done to ensure the company builds the $3 billion business brand.
JustFab is being boosted by other firms it has acquired like Fabletics, an activewear that found a unique niche in a crowded fashion market space. When you think about Fabletics, you need to focus on Yoga pants that are already taking over the world of fashion. The sales are booming partly because of the better economic prospects and wellness of the industry with experts predicting a 50 percent rise in the apparel market. The brand which is part of JustFab has opened retail stores to target many people who still prefer to shop in the traditional stores.