The four billion users of JustFab Inc website will now enjoy low-priced handbags, yoga pants and footwear. The good news comes at a time when a subscription company like Beachmint has closed down. Birchbox terminated twelve percent of its workers just within last week for the second time this year.
JustFab Inc looks like the only subscription company that has survived the hard times. The company’s luck began last year when one billion dollars were fund-raised. In the beginning quarter of 2016, JustFab made a profit in a long time. It is estimated that this year the company will make $650 million, which will be $145 million more revenues from last year’s figures.
Adam Goldenberg, the co-founder of JustFab, is positive that the business is doing well this year. Golderberg also stated that they will announce a new company name this August. This change is in tandem with the recruitment of Todd Tappin, an expert in IPOs, as a Chief financial officer.
According to many retail analysts, including Sucharita Mulpuru, it is interesting how JustFab is getting better while similar companies are collapsing. Adam Goldberg said that they are heading toward IPOs, of course, but failed to state when. As well, he firmly stated that JustFab is more sustainable than other subscription start-ups.
Not only has it acquired its competitor, ShoeDazzle, and a kids brand, FabKids, but has also added a niche for women bags and shoes. Fabletics and FL2 brands are another bonus. As you can learn from the La Times page, JustFab Inc, now occupying a 120,000-square-foot office, is just starting up and is primed to go far.
About JustFab Inc
JustFab Inc is a fully dynamic, forward-looking global fashion and lifestyle brand. It is based in Los Angeles, but it runs an enormous eCommerce website. Founded by Don Ressler along with Adam Goldenberg in March 2010, the company’s first president and creative director was Kimora Lee Simmons. In 2011, JustFab got a thirty-three million in funding from Matrix Partners. In 2012, it received seventy-six million more money from Matrix Partners, Technology Crossover Ventures, Rho Ventures and Intelligent Beauty. Source: https://www.facebook.com/justfab/
The funds were used for growth and expansion, which brought operations to Germany, Canada and UK. It has presence in Spain and France too. In addition to attracting celebrities like Elle, Blair Fowler and Avril Lavigne, JustFab has acquired a few more businesses. This includes FabKids, Fabshoes and ShoeDazzle. In 2013, July,