It’s not an easy task for any entry-level business to take control of the market. However, it is the case for Kate Hudson, Fabletics. The enterprise penetrated into the fashion business at a time when Amazon held over 20 percent of the e-commerce market. However, Fabletics managed to grow to a net-worth of over $250 million in three years. In its mechanisms, the company adopts a subscription model of selling. Customers are therefore encouraged to take a Lifestyle Quiz on their website. The quiz goes further to help the company identify your needs. Fabletics specializes in the production of active-wear with unique designs aimed at pushing the individual’s desire and be inspirational. Combine the two with convenience and subscription and the result is irresistible.
Gone is the time when a high-value brand was solely dependent on price and quality. Today, a shift in the economy has shifted the parameters of the definition. As a result, customers are looking for last-mile services, brand recognition, exclusive design, and gamification. All these elements become an essential factor when determining a high-value item. The company’s expansion has pushed them to add sixteen physical stores. The stores will serve to complement the already open shops in Hawaii, Florida, and Illinois just to mention but a few. Perhaps the big question lies in the secret formula. According to Gregg Throgmartin, the idea behind their growth lied in redefining the high-value parameters. Additionally, the membership model allows the company to serve customers on a personalized level.
On the other hand, Fabletics have adopted a different method of doing physical stores. They have brought up the idea of reverse showrooming. Unlike its counterparts who practice showrooming, a technique that results to browsing offline and buying elsewhere, their reverse method engages the customers and helps to establish a long-lasting relationship. As a result, half of the customers in their stores are registered members while an additional 25 percent register during the visits. Fabletics see’s retail as just another element of service.
It is impressive how Kate Hudson combined acting with business. Together with the other co-founders, Kate Hudson has managed to build a brand that represents and empowers women at all levels in three years. For an actress with a little background knowledge of business, she has genuinely represented the power of innovation in women.
According to Throgmartin, Kate Hudson is the face of the Fabletics brand. Kate faced each day with enthusiasm as she worked towards growing the company. Hudson participated in all aspect of the business including budget preparation and review. Today, she is extremely involved in the design process. As a result, the brands available in the market are fresh and trendy.