Category Archives: fashion Expert

Fabletics And Their Business Approach

When a new company is attempting to be successful, they need to be aware of their competition. This is especially true for fashion e-commerce companies. Amazon is a huge competitor in this area, and they need to be given special consideration.

 

Fabletics is a young athletic wear company. They started out based completely online. Amazon was one factor that played into how they would be successful. Fabletics had to create a business model that would allow them to stand out amongst Amazon.

 

When Fabletics began, all of their products were available only through their website. Customers could come to the website and make their purchases there. Customers were also given the option of signing up to be VIP members. They were asked questions about what they liked and what they would be comfortable wearing. These answers were stored and a customized shopping experience was then presented to each customer. A personalized shopping experience means that customers would be given certain offers and specials based on what they said they liked.

 

Fabletics also used these answers in their business planning and expanding. The next step for Fabletics was to open physical stores. Based on the information given by the VIP members, Fabletics already had a good grasp on what their customers wanted to buy. Fabletics also knew where their customers were located so they were able to narrow down the best areas for opening a physical store.

 

When Fabletics opened their first physical stores, they already had a customer base in place. About half of the customers coming through the door were already fans of the brand. Most had already made purchases and were VIP members. By opening physical stores, Fabletics fans had another outlet to purchase their items.

 

By being a membership-based online company, Fabletics had a system in place to get to know their customers. By tracking information from their customers, they were able to know what products were big sellers, what trends were happening with the products, and where their customers were located. This information was valuable to the opening of all the physical stores.

 

Fabletics was started in October of 2013. They have only been in business for less than three years, but they have already grown to be a company valued at over $250 million. They have seen growth of at least 35% each year. Fabletics has entered into a highly competitive market, but they have found a way to set themselves apart from the rest to include Amazon.

 

The approach Fabletics took to the fashion e-commerce market has been different from most companies. Fabletics created a system where they got to know their customer base and learn what they wanted. They took this information and have created a successful company out of it. Fabletics may be new but they are strong and seeing growth year after year.

Chris Burch Proves That Technology And Fashion Need Each Other

As entrepreneur Chris Burch points out in a recent article, the fashion and technology industries have had many changes throughout the years. Not only have those industries experienced many changes, but the two industries tend to grow together as technology becomes more fashionable and fashion becomes technologically fashionable.

 

 

In the 70s, the creation of the boom box gave consumers the technology of carrying around their favorite music. A product that could personalize consumer’s music experience by allowing them to record music, the boom box was a technological advancement that people loved. In the 80s, the boom box was featured in more and more movies and TV, making the product more popular, creating more buyers and users. In the 90s and 2000s, the inventions of the Walkman and the iPod gave consumers an even more personalized experience, growing more and more popular with each invention. The technology became popular, making it fashionable for people to own the product.

 

 

Nowadays, fashion and technology are growing closer and closer together. They are become intertwined. Technology can be used in fashion and fashion can make technology more popular. Products that would not normally be considered fashionable are found attractive because of their technology.

 

 

Products like the Airbag for Cyclists, for example, are not necessarily meant to be a fashion statement, but rather a wearable technology. It is worn around a cyclist’s neck and deploys an airbag should the cyclist experience impact. Frontline Gloves are worn by firefighters to give them the technology to communicate with each other by using simple hand gestures.

 

 

 Designers can use technology in their fashions, making popular fashion items out of recyclable goods or using kinetic energy merged with fashion to create electrical energy. Sometimes, technology even needs the help of fashion. Glasses, for example, are associated with a stigma. When the technology of Google Glass was created, the popularity of the item needed help by the fashion industry. More and more models strutted down the catwalk with them on, and voila, everyone wanted a pair.

 

 

The two industries are becoming more and more intertwined. Sometimes they need each other’s help. Both of their futures are reliant on the others, making the future a very exciting place to be.

 

 

 Chris Burch is the founder and CEO of Burch Creative Capital. He has almost 40 years of experience, using his amazing investment philosophy to help other brands and companies succeed. He uses his creativity, imagination, and support to help businesses that have a direct and positive impact.

 

 

He combines his understanding of consumer behavior with his sourcing experience to create a wide ranged, wonderful portfolio. The company’s portfolio includes the likes of Voss Water, ED by Ellen Degeneres, and Poppin.

Read more about Chris Burch:

https://www.crunchbase.com/person/j-christopher-burch#/entity